Xinhua
Cambodian government announced garment exports dropped 20 percent in the first five months to 909 million U.S. dollars compared with the same period last year, local English newspaper the Phnom Penh Post reported on Wednesday.
Hang Chuon Naron, secretary general of Ministry of Economy and Finance, said the decrease will not seriously damage the Kingdom's economy, as the decline will prove temporary and ought to end later this year.
"We expect garment exports will decline only 5 percent for the year overall," he said. "We hope garment exports will climb to 2.8 billion U.S. dollars later this year as the United States' economy is showing a higher demand for garments."
Cambodia exported 3.1 billion U.S. dollars worth of garments last year. Most went to the United States and the European Union.
Hang Chuon Naron was talking at a forum on Tuesday on the effects of the global economic crisis and strategies to overcome the challenges. The forum was attended by 300 people from government, NGOs and the private sector.
Hang Chuon Naron, secretary general of Ministry of Economy and Finance, said the decrease will not seriously damage the Kingdom's economy, as the decline will prove temporary and ought to end later this year.
"We expect garment exports will decline only 5 percent for the year overall," he said. "We hope garment exports will climb to 2.8 billion U.S. dollars later this year as the United States' economy is showing a higher demand for garments."
Cambodia exported 3.1 billion U.S. dollars worth of garments last year. Most went to the United States and the European Union.
Hang Chuon Naron was talking at a forum on Tuesday on the effects of the global economic crisis and strategies to overcome the challenges. The forum was attended by 300 people from government, NGOs and the private sector.
7 comments:
There is no reason to rejoice. Only the poor will suffer from the economic recession. The rich and the corrupt will only steal more to make up for the loss.
Instead of confessing to the truth and taking steps to stimulate the economy, they are lying and suppressing freedom of speech.
One eyed hyena's response to cambodia's plight.
BRAVO A CHHAM PRASITH AND HIS FAMILY for the corruption .
Not only Mr. Cham Prasit who told that the world economic crise will not impact to Cambodian Economy.
But for a few months I have heard from "Khmer economic research institut" in "radio Free Asia", Mr. PhD. Kang Chantararouth ( from Free University, Berlin) he stated that the Cambodian Economy will be slightly impact from the orld economic crises. What was "slightly" that you means? Now you can see that is small impact for Cambodia. Your statement is perfect for your carrer, but not for the thrust of Cambodian economy. Please correct your statistic research and learn more about the world .....
khmer
Go back homes to plant rice and bananas as your great leader tell you to do so. Understand!!!!
In USA we don't buy clothes made in Cambodia anymore.
10:09 PM
You are not the one, who decide. You don't buy cloths from Cambodia, but other will do, because they are still civilized and love Cambodian cloths.
Democratic Kampuchea Pol Pot Khmer Rouge Regime had committed:
Tortures
Executions
Massacres
Atrocities
Crimes Against Humanity
Starvations
Overwork to Death
Slavery
Rapes
Human Abuses
Assault and Battery
Cambodian People's Party Hun Sen Khmer Rouge Regime had committed:
Assassinations
Assassinate Journalists
Assassinate Political Opponents
Murders
Killings
Extrajudicial Execution
Grenade Attack
Terrorism
Drive by Shooting
Tortures
Intimidations
Death Threats
Threatening
Human Abductions
Human Rights Abuses
Human Trafficking
Drugs Trafficking
Under Age Child Sex
Corruptions
Bribery
Illegal Mass Evictions
Illegal Land Grabbing
Illegal Firearms
Illegal Logging
Illegal Deforestation
Illegally use of remote detonation on Sokha Helicopter, while Hok Lundy and others military official on board.
Illegally Sold State Properties
Illegally Remove Parliamentary Immunity of Parliament Members
Plunder National Resources
Acid Attacks
Turn Cambodia into a Lawless Country
Oppression
Injustice
Steal Votes
Bring Foreigners from Veitnam to vote in Cambodia for Cambodian People's Party.
Abuse the Court as a tools for CPP to send political opponents and journalists to jail.
Abuse of Power
Abuse the Laws
Abuse the National Election Committee
Abuse the National Assembly
Violate the Laws
Violate the Constitution
Violate the Paris Accords
Impunity
Under Cambodian People's Party Hun Sen Khmer Rouge Regime, no criminals that has been committed all of these crimes above within Hun Sen Khmer Rouge government have ever been brought to justice.
1:16 AM
Well know, maybe you were the one, who worked with the Khmer Rouge.
To win the next election in Cambodia, you need to work hard and prove your abilities in all fields.
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