Cambodia will expand its garment, footwear and travel goods (GFT) export market, promote investment in value-added and high-end products and improve skills and condition of the workers to maintain competitiveness and sustainability, especially in the wake of challenges from the European Union (EU) market under a new policy directive for the sector.
The country’s GFT Development Strategy 2022-2027 was discussed recently during the launch of the GFT Sector Brief, undertaken jointly by the European Chamber of Commerce in Cambodia (EuroCham), Textile, Apparel, Footwear & Travel Goods Association in Cambodia (TAFTAC) and International Labour Organisation (ILO).
GFT exports to the EU dropped a fifth to $3,410 million in 2020 from $4,257 million in 2019, and further declined by another 20 per cent, to $2,726, in 2021, the Sector Brief pointed out. The decline last year was mostly attributed to Brexit.
