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Industry News | Time: Nov 4 2019 2:41PM
China and Cambodia strengthen cooperation in textile industry
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China Trade News reported that the inaugural ceremony of the first Council of Cambodian China Textile Association and the Second Council of Cambodian China Chamber of Commerce textile enterprise association was held in Phnom Penh, Cambodia. The association is an industry association under the Cambodian Chinese Chamber of Commerce. At present, there are 108 members of the association, involving textile, shoemaking, luggage and other related industries. The association will continue to work to strengthen cooperation in the textile industry between China and Cambodia.

Wu Guoquan, economic and Commercial Counsellor of the Chinese Embassy in Cambodia, said that the relations between the two countries have constantly reached a new level, economic and trade cooperation has become closer, and converging interests have expand. China is the largest source of investment in Cambodia, and the textile sector is an important part of it. Chinese enterprises provided Cambodia with a large number of jobs, trained a large number of skilled workers and management personnel, and played an important role in Cambodia's social and economic development, improving and improving the living standards of Cambodian people.

Cham Prasidh, Minister of industry and handicraft of Cambodia, said that the textile and apparel industry plays a very important role in Cambodia's economic development, not only creating the largest share of exports for Cambodia, but also creating a large number of employment opportunities. He hoped that the association would attract more enterprises from related industries to invest in Cambodia, and the Cambodian government would provide more convenience and support.

He Enjia, President of the textile association, said that Chinese enterprises accounted for more than 70% of all textile enterprises in Cambodia and 52.5% of all exports, directly creating nearly 500000 jobs. Since its establishment, the association has cooperated with a number of government departments in Cambodia to jointly formulate industry standards and development plans, constantly improve the business environment, actively publicize Cambodia's investment environment to domestic enterprises, and carry out school enterprise cooperation.
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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