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Cambodia:World Bank positive about Cambodian-made garments |
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2004-12-6
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There will be no reduction in sourcing of garments from Cambodia, even after the expiry of trade quotas that might place few countries in an advantageous position over the rest from the textile industry here, informed the World Bank on Friday.
Currently USA and EU countries buy garments from Cambodian at lower tariffs than clothes than elsewhere to help the nation''s impoverished economy. However, from January next year, such trade privileges will not be extended to Cambodia and other nations, under new Multi
Fibre Agreement resulting in garment from such countries, costly to import.
All such fears are out of place according a World Bank investment arm expert Nigel Twose and the International Finance Corp., who stated that said buyers would remain committed to buying from Cambodia.
According to Twose, important buyers from Cambodia''s garment industry currently plan to retain or increase their purchasing, and not to withdraw feared by many.
Presently, about 220 factories employing over 265,000 workers manufacture garments and readymade clothes catering to leading retailers like GAP and Nike.
Moreover, buyer had shown satisfaction at the adoption of fair labor practices by the manufacturers in the country.
World Bank reports said 60 percent of buyers surveyed informed that they planned increase garment sourcing from Cambodia, while none plans to buy less, according to Twose.
Yet, informed Twose that 75 percent mentioned the costs of doing business in Cambodia as too high.
All this, summed up Twose meant that red tape, much corruption, high energy costs, and allied issues needed to be sorted incase the industry was to be competitive and sustainable. |
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