Duty-Free Agreements Worry Minister
Duty-free agreements between regional competitors and foreign importers would put the Cambodian garment industry at risk, Commerce Minister Cham Prasidh said last week.
Speaking to reporters after a meeting, Prasidh warned that the Kingdom’s garment sector would not be able to maintain its competitive edge over the industries of neighbours such as Vietnam and Myanmar should those countries implement free-trade agreements with the US, EU and regional trade partners.
“The big risk for us is that I start to see Vietnam negotiating a free-trade area with the US, and Vietnam will push garment products entering the US to be duty-free, while Cambodian garment products are still charged,” Prasidh said.
“Investors in the Cambodian garment industry would move into Vietnam; it is a big risk and a big challenge.” …http://www.phnompenhpost.com/2013060366010/Business/duty-free-agreements-worry-minister.html
