Maersk sees a slowing EU
The Cambodia representative for the world’s largest shipping company said exports from Cambodia to Europe grew by more than 60 per cent during 2011, but have since weakened. “Rice exports grew a lot during 2011 and a lot of it went to Poland and France,” said Ben Wilson of Maersk (Cambodia) Ltd, which carries more cargo out of Cambodia than any other company. Europe received about 35,000 TEU (20-foot containers) from Cambodia during 2011, much of it coming from the garment and footwear factories here. “European global retailers have increased their sourcing out of Cambodia as compared to other countries,” Wilson said. … Despite a big jump in 2011 exports to Europe, Wilson says the European market has since weakened. “My opinion is we are seeing quite a weak market in Europe and the growth is not going to be as strong as it was last year.”…
Stuart Alan Becker, P. 9
http://www.phnompenhpost.com/index.php/2012050856019/Business/maersk-sees-a-slowing-eu.html
