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CLMV nations urged to export goods items to Japan

Feb '20
Pic: Shutterstock
Pic: Shutterstock
Cambodia, Laos, Myanmar and Vietnam (CLMV) were recently encouraged at a forum to improve their production chains to offer added value to their textile products exported to Japan. The call came at a Phnom Penh workshop for CLMV representatives on the potential of their exports to Japan and the global value chain in the textile and apparel industry.

Cambodian ministry of commerce statistics show the potential products for export from Cambodia to Japan are clothes, footwear and electronics, according to a Cambodian newspaper report.

There are 137 Japanese investment projects in Cambodia valued at $2.5 billion at present. These are primarily involved in the manufacturing of electronic and electricity components, auto spare parts, agro-industry products and food processing materials, hotels, tourism, hospitals and malls, according to the ministry.

In 2018, Cambodian exports to Japan rose by 27.3 per cent, while imports grew by 17.8 per cent, according to the Japan External Trade Organisation. The same year, more than $1.6 billion worth of Cambodian goods were exported to Japan, while the former purchased about $421 million worth Japanese goods.

According to Bando Shunsuke, director of research and policy analysis at the ASEAN-Japan Centre, who was a key speaker at the workshop, Cambodia is geographically located in the centre of the Association of Southeast Asian nations and provides favourable conditions for businesses with rapid infrastructure development and fast-rising economic growth, investment, trade and tourism.

Fibre2Fashion News Desk (DS)

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