Cambodian Garment Sector Under Threat
Tuesday February 5, 6:51 am ET
Official: Cambodian Garment Industry Faces Tough Time As U.S. Economy
Slows Down
PHNOM PENH, Cambodia (AP) -- Cambodia's garment industry expects to
see a decline of orders from American retailers amid fear of a
slowdown in the U.S. economy, a Cabinet minister said Tuesday, as he
warned the country's top ex****t sector by value faces tough times.
"I am concerned that our garment sector would face some problems,"
Commerce Minister Cham Prasidh said. "Now that the U.S. economy may
head into a decline, purchasing orders from U.S. retailers may also
decrease."
He said last year's garment ex****ts to the U.S. were worth more than US
$1.9 billion (euro1.3 billion). The figure represents about two-thirds
of Cambodia's total ex****ts of clothing products in 2007, Cham Prasidh
said.
Anti-dumping measures the U.S. has imposed on the im****t of Chinese
goods have so far helped sustain Cambodia's garment ex****t industry.
But at the end of 2008, the U.S. will phase out the measures against
China as well as a monitoring mechanism on im****ts from Vietnam,
another competitor, compounding pressure on the Cambodian garment
industry, Cham Prasidh said at a press conference Tuesday.
"Competing for that market has not been an easy task," he said.
Ken Loo, secretary-general of the Garment Manufacturers Association in
Cambodia, agreed that the industry is facing "a very difficult" time
and "stiffer competition" ahead.
Cambodia currently has 300 garment factories that employ 355,000
workers.
Cambodia ranks 12th among the 25 top countries from which the U.S.
im****ts textile products, according the U.S. Census Bureau.
U.S. Census Bureau
http://www.census.gov/foreign-trade/statistics/country/sre****t/textile.html
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