USAID (the U.S. Agency for International Development) senior official in Phnom Penh on Thursday highlighted Cambodia's garment industry's rapid growth as its annual exports rose from 653 million U.S. dollars to 2.1 billion U. S. dollars over the last seven years from 1999 to 2005.
"Primarily you, the garment factories, workers and the Royal Government of Cambodia" made the kingdom's total exports rise from 940 million U.S. dollars in 1999 to 3 billion U.S. dollars in 2005, said Erin Soto, Commission Director of USAID, while hosting a one- day seminar named as "Growing Productivity and Competitiveness in the Garment Industry of Cambodia."
The private sector's investment and the combined efforts of the factories and workers had done more to grow the Cambodian economy than foreign donors could ever hope the kingdom to achieve, he said.
The garment industry was the major engine to propel Cambodia's GDP to grow from 3.3 billion U.S. dollars in 1999 to 5.4 billion U. S. dollars in 2005, he added.
The 1999 Bilateral Textile Agreement the Cambodia signed with the U.S., together with the kingdom's efforts in the area of compliance to labor standards and labor rights, also contributed to the robust stride of the industry, said Soto.
Meanwhile, the director pressed Cambodia's garment industry to gain competitiveness and productivity as the rules of the games were changing.
As the multi-fiber agreement ended in January 2005, Vietnam entered into the WTO in late 2006 or 2007, and the safeguards placed on China, which were slowing its garment exports to Europe and the U.S., expired in 2008, Cambodia's garment industry had to be competitive and productive in order to retain its momentum, he added.
Garment industry is Cambodia's first largest foreign exchange earner. In 2005, it exported garments worth 2.17 billion U.S. dollars, almost 10 percent growth over 2004.
Source: Xinhua
"Primarily you, the garment factories, workers and the Royal Government of Cambodia" made the kingdom's total exports rise from 940 million U.S. dollars in 1999 to 3 billion U.S. dollars in 2005, said Erin Soto, Commission Director of USAID, while hosting a one- day seminar named as "Growing Productivity and Competitiveness in the Garment Industry of Cambodia."
The private sector's investment and the combined efforts of the factories and workers had done more to grow the Cambodian economy than foreign donors could ever hope the kingdom to achieve, he said.
The garment industry was the major engine to propel Cambodia's GDP to grow from 3.3 billion U.S. dollars in 1999 to 5.4 billion U. S. dollars in 2005, he added.
The 1999 Bilateral Textile Agreement the Cambodia signed with the U.S., together with the kingdom's efforts in the area of compliance to labor standards and labor rights, also contributed to the robust stride of the industry, said Soto.
Meanwhile, the director pressed Cambodia's garment industry to gain competitiveness and productivity as the rules of the games were changing.
As the multi-fiber agreement ended in January 2005, Vietnam entered into the WTO in late 2006 or 2007, and the safeguards placed on China, which were slowing its garment exports to Europe and the U.S., expired in 2008, Cambodia's garment industry had to be competitive and productive in order to retain its momentum, he added.
Garment industry is Cambodia's first largest foreign exchange earner. In 2005, it exported garments worth 2.17 billion U.S. dollars, almost 10 percent growth over 2004.
Source: Xinhua
No comments:
Post a Comment