Clothing is Cambodia’s most important pillar industry. In the second quarter of 2009, Cambodia is expected to recover from the global financial crisis.
The newly re-elected president of the Cambodian Garment Manufacturers Association said: “I think in the second quarter of 2009 if we make the factory more competitive, we will be able to maintain orders at the current level.”
Clothing orders in Cambodia fell 40% year-on-year in the first two months of 2009 due to lower demand in traditional markets such as the United States and Europe, the president said at the association’s annual meeting on Sunday.
The association, which represents Cambodia’s major garment factories, plans to meet with buyers from Hong Kong, China, on March 26 to pursue orders.
The president said: “I will encourage buyers to increase their textile orders from Cambodia because they have recognized the reputation of our country’s labor standards. We must help garment factories improve their quality so that they can compete with other countries. This means Reduce corruption by improving transparency.”
Since the global financial crisis broke out in August 2008, about 70 garment factories have closed and more than 51,000 workers have lost their jobs or had their contracts terminated.
Last week, Cambodia’s Commerce Minister said that clothing exporters earned only US$70 million in revenue in January, compared with US$250 million in the same period in 2008.
In the past, clothing exports accounted for 70% of Cambodia’s total exports, employing 300,000 workers.
