Source: The Jakarta Post, 27 April 2012
Business Desk, Asia News Network (Rasmei Kampuchea Daily), Phnom Penh |
Fri, 04/27/2012
The lifting of EU sanctions against Myanmar is bound to have an impact on the Cambodian garment sector, Cambodia
Sin Chew Daily reported on Thursday.
The
European Union announced earlier this week that it was lifting
sanctions against the country. Japan and Canada have made similar
announcements since the end of last week.
"The Cambodian garment
industry will certainly be affected after EU sanctions against Myanmar
are abolished," Garment Manufacturers Association in Cambodia (GMAC)
Secretary-General Lu Qijian was quoted as saying.
"But we do not know the effect as we do not know the details of the EU suspension of sanctions against Myanmar."
Lu
reportedly said that the impact on local companies will not be felt
soon and that, for the time being at least, the local garment industry
will not move to Myanmar.
Min Soe, of the Myanmar Garment
Manufacturers Association, was quoted as saying that the Myanmar textile
and garment sector could recreate 20,000 jobs next year once sanctions
were lifted. Over a period of 10 years, the report noted, sanctions led
to the loss of about 80,000 jobs in the sector.
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