POSITION PAPER – KINGDOM OF CAMBODIA

Committee: United Nations General Assembly

Topic: Global ethical and financial implications of decentralized transactions and cryptocurrencies.
Country: The Kingdom of Cambodia

A. Perception of the Topic

Cryptocurrencies have emerged following the 2008 recession and are today at the centre of many
discussions. Decentralized transactions done through blockchains have enabled many facilities which
were precedingly not available to many people. The purchase of land has become much safer and
easier, the music industry is now more protected, and the exchange of bonds or stocks is not quicker.
Many argue that cryptocurrencies have unethical complications, but it shall be highlighted that there
are no safer ways of transactions. The safety of blockchains enables persons involved in transactions
to be anonymous: a well-known factor for prosperity despite concerns of many.

B. Position of The Kingdom of Cambodia

My country has faced a shortfall of around 180 million US dollars during the financial year 2008-
2009. The financial crisis of 2008 has caused garment exports to the European Union to fall by nearly
10 percent, while exports to the United States dropped around 33 percent. This economic recession
which caused around 30,000 Cambodians to permanently lose their jobs, would not have happened if
we were not so reliant on massive Wall Street financial institutions. These institutions are not
beneficial for developing states as they prioritize their own wealth, triggering the fall of the Lehman
Brother bank. Back then there was no money to set up shop, no land to grow rice. Today,
cryptocurrencies are revolutionizing the financial sector and eventually giving everyone a fair chance.
This is the reason why my government is supporting cryptocurrencies.

C. Solutions and Proposals

UNICEF will now be able to receive, hold and disburse donations of cryptocurrencies ether and
bitcoin, through its newly established UNICEF Cryptocurrency Fund. This highlights
acknowledgement of the United Nations regarding the vetting of cryptocurrencies. The Kingdom of
Cambodia would therefore urge the United Nations to facilitate the implementation of
cryptocurrencies as legal method of payment in several countries. The main opposition to this
proposal will probably be the unwillingness of superpowers, for which massive financial institutions
are very important. Nevertheless, this proposal represents giving a fair chance to everyone.
 POSITION PAPER – KINGDOM OF CAMBODIA
Committee: United Nations General Assembly
Topic: Reducing the dependency and addressing the monopoly held by entities in the middle east,
associated with fossil fuels by considering alternative energy solutions
Country: The Kingdom of Cambodia

A. Perception of the Topic

The Kingdom of Cambodia deeply values the importance of renewable energy and recognizes that
there must be efforts to make the world a greener one. The world as it is today relies on the Middle
East and North Africa region for generating 36 and 22 percent of global crude oil and natural gas,
respectively. The market is widely controlled by the MENA region, having given rise to an economic
boom in many Middle Eastern countries. Additionally, OPEC (Organization of the Petroleum
Exporting Countries) oil reserves in the Middle East amount to 64.5% of the OPEC total.

B. Position of The Kingdom of Cambodia

The Kingdom of Cambodia supports the transitional development of alternative energy sources
provided the low prices of these energy sources. As highlighted by the Kingdom’s Ministry of Mines
and Energy senior official, the government has invested some $100 million to reduce electricity tariffs
by $0.01 per kilowatt-hour for the industrial and agricultural sectors in 2020. However, electricity
tariff rates in Cambodia vary considerably depending on the source of electric power generation.
Almost 95% of the cost of electricity supply is related to the cost of fuel. Therefore, Cambodia stands
for transitioning towards more ecological and less monopolised energy sources.

C. Solutions and Proposals

The delegation of Cambodia believes that there must be a reduction in the dependency and an address
to the monopoly held by entities in the middle east. However, as aforementioned, the main priority
of the Government of the Kingdom of Cambodia remains to have affordable electricity prices when
transitioning towards alternative sources. A huge potential project would be the development of our
internal hydropower energy sources. This will help alleviate the monopoly of Middle East countries
and our dependency on them. However, more international investments would be required for
developing states such as the Kingdom of Cambodia.