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US intends to diversify trade relations with Cambodia

24
Jul '12
The US is making moves to diversify and strengthen its trade relationship with Cambodia. The US’s business relationship with the Southeast Asian country is presently limited to the imports of readymade garments from Cambodia. 
 
At the US-Asean business forum in Siem Reap, Cambodia, a trade delegation from the US, along with the Secretary of State Hillary Clinton, focused on the expansion of the country’s trade relationship with Cambodia.
 
At present, Garments have a substantial share in Cambodia’s exports to the US. According to the figures with the US Department of Commerce, apparels constituted 95.1 percent of all Cambodian exports to the US in the first five months of 2012, a marginal decline from the 95.4 percent share during the corresponding months of 2011.
 
In 2010, garments formed 96.1 percent of all Cambodian exports to the US. 
 
Many American apparel brands indirectly operate in Cambodia and several Cambodia-based factories produce apparels at rock-bottom prices for the US brands. 
 
Last year, the US-Cambodia trade balance was US$ 2.5 billion in favor of the Kingdom of Cambodia. Popular American brands such as Abercrombie & Fitch and Calvin Klein imported a large volume of readymade garments from Cambodia.
 

Fibre2fashion News Desk - India


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