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Cambodia offered export rights to 78 factories last year

06
Jan '20
Pic: Shutterstock
Pic: Shutterstock
Cambodia’s ministry of commerce recently granted export rights under the preferential trading system to 78 garment, footwear and bag factories in the first 11 months of last year, according to its annual report. The ministry registered 51 such facilities from January to November, a rise of 24 per cent over 41 in the same period in 2018, the report said.

Twenty seven bag factories were registered, an increase of 170 per cent year-on-year on the 10 registered in the same period the previous year, while 138 exporters and other factories registered, a 21 per cent rise, according to a report in a Cambodian newspaper.

According to Garment Manufacturers Association in Cambodia (GMAC) secretary general Kaing Monika, Cambodia has seen positive effects from the US-China trade dispute, which has prompted a surge in garment and footwear registrations.

“The growth of garment factories last year was boosted mainly by the trend of finding alternative sources to China, and recently by the US-China trade war. The growth in travel goods factories was strengthened by the eligibility of the products for the US’ Generalised System of Preferences,” Monika said.

Cambodia’s exports to international markets reached more than $10 billion in the first 10 months of last year, mainly from the garment, textile, footwear and travel products sectors, according to the report.

Garment exports were worth $6.4 billion, textiles $40 million and footwear $905 million.

Fibre2Fashion News Desk (DS)


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