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The Cambodian Government is worried that the Greek economic crisis could affect the country’s garment exports to the EU, and it will take measures to absorb external shock, Keat Chhon, Minister of Economy and Finance said at a trade exhibition in Phnom Penh.
The Government has expressed concern in spite of it upgrading the Kingdom’s gross domestic product outlook for 2011. The concern stems from the fact that EU is the second largest importer of Cambodian garments, and hence crisis in the EU countries could hurt our exports, the Minister said.
The Government will take measures to absorb external shock arising from the EU debt crisis. These will include those related to strengthening domestic laws, human resources and financial institutions, he added.
However, Cambodian garments being less expensive in nature, there may not be much decline in orders from European countries, according to Minister of Commerce Cham Prasidh.
He hoped that Europeans would not stop buying Cambodian clothes even in the midst of financial crisis.
2 comments:
i think some investors are afraid of landmines in cambodia. they failed to see that if other investors can do it in cambodia, so can them. i hope that doesn't discourage foreign investors like japan, america, etc, to invest their business and education in cambodia. that's my thought. may god bless cambodia and all khmer people.
i think tourists need to come to visit cambodia to appreciate how safe and inviting cambodia real is in reality compare to what they may have heard about cambodia as dangerous destination, etc, really! some people i talked to still think cambodia is dangerous for them to visit, etc. i think they are lack of education on cambodia. well, those who did visit had a different perspective about cambodia and khmer people, i.e., they don't want to leave, and some even felt in love with cambodia's beauty, etc... i think a lot of people out there still have a misconception of cambodia as a dangerous destination, even today, maybe from what they heard about cambodia in the past, but today? cambodia is a different country. i hope people don't judge cambodia before they see it in personal, you know. may god bless my country cambodia and all our beautiful khmer people and citizens.
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