Factories given export rights
Factories given export rights
The Ministry of Commerce granted export rights under the preferential trading system to 78 garment, footwear and bag factories in the first 11 months of last year, its annual report stated.The ministry registered 51 such facilities from January to November last year, an increase of 24 per cent on the 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 proceeding period, while 138 exporters and other factories registered, a 21 per cent increase.
Garment Manufacturers Association in Cambodia (GMAC) secretary-general Kaing Monika told The Post on Wednesday that 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.
GMAC members operate more than 500 factories in the Kingdom and employ more than 700,000 workers.
Minister of Commerce Pan Sorasak has said that to boost exports to international markets, the ministry is continuing to strengthen the supply chain and diversifying the exports market through integration within the Asean Economic Community.
“In order to compete within the regional and global framework, the Ministry of Commerce is striving to improve capacity and efficiency by strengthening human resources, and reforming management and administrative structures, as well as improving public services,” Sorasak said at the opening of the ministry’s annual meeting last month.
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 Ministry of Commerce report.
It shows that Cambodia exported more than $10.8 billion of goods, up 6.45 per cent year-on-year.
According to a breakdown of the data, garment exports were worth $6.4 billion, textiles $40 million, footwear $905 million and rice $286 million, while other products accounted for more than $3.1 billion.
