Cambodia’s Ministry of Commerce recently unveiled latest export statistics pf the country which state that the European Union (EU) is the largest market for Cambodia’s garment and footwear exports. The total value of exports to the EU in first quarter of the year was about US $ 717.8 million, followed by US $ 419.2 million to the United States, US $ 41.7 million to Canada and US $ 34.6 million to Japan. Exports to other global markets amounted to US $ 65.9 million.
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Seung Sophari, spokesperson for the Ministry of Commerce, told a Cambodian daily that the increase of exports to the EU was due to the low tariffs in the EBA (Everything But Arms) agreement.
On further strengthening the working of T&C sector, Seung averred, “The garment sector is a competitive sector where factories will have to invest in productive systems and where industry partners have to work on a conducive business environment to ensure that the sector remains attractive.” She added that it will be important for industry partners in the country to be pro-active in the continuously changing context including trade agreements in the region that will offer opportunities to Cambodia and the way in which garment factories operate.
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