The United States, under the new US Generalized System of Preference (GSP) expands duty-free access to travel goods such as luggage, backpacks, handbags and wallet made in Cambodia, a major expansion of trade preferences for the country, according to the US Embassy in Phnom Penh.
Now, Cambodia will be able to be shipped its travel goods to the US duty free.
President of the Garment Manufacturers Association of Cambodia Van Sou Ieng said that the country is currently home to 15 factories producing travel goods and exports 50 million USD worth of such products to the US market every year
U.S. Ambassador William Heidt in a joint press conference with Cambodian Minister of Commerce Pan Sorasak said that the duty-free offer will open up a new market for Cambodian exporters while creating thousands of jobs for Cambodians.
He encouraged Cambodian producers to take the advantage to diversify the countryâ€™s economic base, spur economic growth and alleviate poverty.
Pan Sorasak said that the offer will be a good opportunity for Cambodia to further the development of the garment and textile industry.
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