The Garment Manufacturing Association of Cambodia (GMAC) and the European Chamber of Commerce (EuroCham) have established a partnership to cooperate for mutual benefit in the garment industry, which is the industry with the brightest export prospects in Cambodia. Kong Sang, President of the Cambodian Garment Manufacturing Association, and Tassilo Brinzery, President of the European Chamber of Commerce, attended the signing ceremony of the cooperation on March 16.
President Sang said that the EU is one of Cambodia’s major trade and investment partners, and Cambodia needs to further enhance its competitiveness and maximize economic benefits through export growth. The cooperation between the two chambers of commerce will strengthen Cambodia’s garment industry, especially promoting Cambodia’s exports to the EU market.
Chairman Tassilo said that the European Chamber of Commerce represents a perfect combination of major European apparel brands in Cambodia’s apparel and manufacturing industry, local small and medium-sized enterprises, factories and services It plays a key role in many industries, such as audit firms and shipping companies focusing on the apparel and export industries. The combination of the above-mentioned companies will make Europe a larger market that can sustainably promote the interests of the industry and its stakeholders, with greater output, higher professionalism and better quality products.
Chairman Tassilo believes that the above-mentioned European business model in Cambodia is beneficial to the Cambodian economy, and the adoption of new measures such as supply chain and EU labor law will also increase Cambodia’s export opportunities. Very important. President Sang said that most of the success and good export growth are still attributed to the EU’s preferential treatment for Cambodia’s exports to the EU, because Cambodia is still an underdeveloped country.
The bilateral trade volume between Cambodia and the EU will reach US$4.5 billion in 2021, an annual increase of 4.6%; of which Cambodia’s clothing exports are US$2.207 billion, footwear is US$383 million, and travel supplies Exports amounted to US$93 million, totaling US$2.683 billion, accounting for approximately 60% of the total bilateral trade.
