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Cambodian garment sector under Myanmar scare
28
Apr '12
Cambodian garment industry would certainly be affected by the European Union's (EU) move of lifting the trade sanctions that it imposed on Myanmar since late 1990s.

Following EU's announcement of lifting most of the sanctions against Myanmar, Japan and Canada have also announced lifting of sanctions against the Southeast Asian country.

Garment Manufacturers Association in Cambodia (GMAC) Secretary-General, Lu Qijian, said EU's move would surely impact the Cambodian garment industry.

However, he added that it would not be possible to estimate the exact affect as complete details about the lifting of sanctions are not yet known.

Mr. Lu said the step would gradually impact the Cambodian firms, which will not immediately relocate to Myanmar.

The Myanmar Garment Manufacturers Association expects the lifting of the sanctions to result in regeneration of 20,000 jobs in the Myanmar garment industry, during next year itself.

About 80,000 jobs have been lost in the Myanmar garment industry in past one decade due to sanctions.

Fibre2fashion News Desk - India


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