Cambodian garment exports jump
\nAfp, Phnom Penh
\nThe Daily Star, Bangladesh<\/p>\n
<\/p>\n
Cambodian garment exports rose 14.3 percent in the first half of 2014, compared to the same period last year, a senior commerce ministry official said Thursday.<\/p>\n
Exports in July totaled nearly 1.7 billion dollars, said the official, who did not want to be named, adding that the sector will remain the driving force behind impoverished Cambodia’s economy despite jitters over greater regional competition.<\/p>\n
“Buyers will continue to buy products from Cambodia,” he told AFP, adding that 70 percent of the textiles produced during the period here were snapped up by the United States, Cambodia’s largest garment market.<\/p>\n
The garment sector has achieved double-digit growth year-on-year and is now Cambodia’s largest industrial employer, giving work to more than 330,000 people.<\/p>\n
But the industry, which accounts for 80 percent of Cambodia’s export earnings, is becoming increasingly vulnerable to foreign competition, and manufacturers fear ongoing labour upheavals could drive future investors away.<\/p>\n
“Prospects for Cambodia’s clothing industry are uncertain,” the Asian Development Bank said in its 2014 economic outlook report for Cambodia.<\/p>\n
“Its manufacturers will face sharper competition for global clothing markets as a result of the accession of Vietnam to WTO and the scheduled removal in 2014 of safeguard measures against (Chinese) clothing exports to the US.”<\/p>\n
Garment industry officials have stressed the need for greater productivity, and have urged the government to crack down on illegal strikes.<\/p>\n
At the same time, union officials have accused factory owners of refusing to negotiate disputes, while forced overtime and clashes between Cambodian workers and foreign managers continue to disrupt output.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cambodian garment exports jump Afp, Phnom Penh The Daily Star, Bangladesh Cambodian garment exports rose 14.3 percent in the first half of 2014, compared to the same period last year, a senior commerce ministry official said Thursday. Exports in July totaled nearly 1.7 billion dollars, said the official, who did not want to be named, […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n