Home / Knowledge / News / Apparel/Garments / Cambodia can benefit from US-China trade war: Govt
Cambodia can benefit from US-China trade war: Govt
10
May '18
Courtesy: Pexels
Courtesy: Pexels
The ongoing trade dispute between the US and China could provide an opportunity to Cambodia to increase its exports to the US, the largest market for its garment and footwear products, according to a top official from the Cambodian ministry of economy and finance. The recent tax reform in the US is also likely to help Cambodian exporters.

As trade barriers between US and China increase, investors from US will look away from China to set up their factories. Cambodia can take advantage of this situation by improving its competitiveness through reduction in power and transportation costs and streamlining trade procedures, Vongsey Vissoth, secretary of state at the ministry, told reporters during the annual meeting of the Asian Development Bank in Manila last week.

Talking about the recent tax reform in the US, Vissoth said it will boost the US economy, and thereby create several new opportunities for Cambodian exporters. He expects this could help the Cambodian GDP to grow by 0.5 per cent.

“A buoyant economy in the US multiplies opportunities for exporters in Cambodia,” he said, adding that the US has recently extended its GSP programme, which grants Cambodian companies access to duty-free privileges when exporting to the US, a Cambodia media report said. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 8th Mar 2021

Vietnam-UK FTA triggers two-way trade

After a month of Vietnam signing a free trade agreement (FTA) with...

Pic: Shutterstock

Retail | On 8th Mar 2021

2021 may see record retail sales in US, economy hinges on virus: NRF

A wide array of economic indicators point toward potentially record...

Pic: Lund University

Textiles | On 8th Mar 2021

Swedish scientists convert cotton into sugar, to make textiles

In a major step towards recycling, scientists at Sweden’s Lund...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Industry could be looking at 10%-15% job losses

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Neeraj Sharma,

Neeraj Sharma

Headquartered in Surat, Gujarat, Orange O supplies digital textile...

Tony Naschberger,

Tony Naschberger

With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


March 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search