Kampuchea's Export Market Tends To Expand In Europe And Clothing And Footwear Investment

Taiwan textile industry organization "Textile Development Association" said, clothing and Shoemaking industry It still occupies the leading position in Kampuchea's industry, and this is also the leading source of foreign exchange earnings in the country. The Kampuchea government approved 103 textile investments in 2012, amounting to US $660 million, double the number in 2011 and 3 times the investment in that year.

Textile and garment industry is the most important economic pillar of Kampuchea. There are more than 630 garment factories in Kampuchea and 97 factories in the footwear industry. Altogether, there are 727 factories in 2012, which employ about 600 thousand workers.

It is reported that Kampuchea continues to enjoy the generalized preferential tariff system granted by the EU and the most favored nation treatment which will be given to the developed countries such as the United States and Japan. In 2012, the export garments amounted to US $4 billion 600 million, an increase of 8% compared with 2011, accounting for 83.7% of the total export volume in that year. Therefore, the government of Kampuchea continued to approve 103 textile mills projects in 2012, amounting to US $660 million, double the number and 3 times the investment volume in 2011.

The textile industry association pointed out that in recent years, the structure of Kampuchea's export market has undergone major changes. Cambodia Exports to the United States accounted for 70% of the total exports and 25% of the European Union, which has now changed to 44% of exports to the United States, 35% of the EU and 20% of other markets. According to this trend, the proportion of exports between the US and the EU will be balanced in 2013.

The main reason for the expansion of the European market is that 27 countries in the European Union have already introduced duty-free concessions to Kampuchea's imports, while the United States maintains an average tariff of 16% on Kampuchea's clothing.

The main export markets for Kampuchea's textile and garment products are the US, the European Union, Canada, Japan, Korea and Mainland China, with an export value of US $4 billion 600 million in 2012 and imports. Textile raw materials Up to 3 billion 100 million US dollars, an increase of 20% over 2011, mainly from mainland China, Taiwan, Thailand, Japan and South Korea, and foreign exchange earning 1 billion 500 million US dollars in 2012.