China bets for the Cambodian textile industry. Several Chinese textile companies have created the Chinese Textile Association in Cambodia (Ctac), with the aim of encouraging Chinese investment in the country.
The organization, which includes Chinese textile companies, including manufacturers and suppliers, provides legal advice to investors who are interested in entering Cambodia. In addition, the Ctac will also promote the contact of Chinese companies with the Cambodian government, according to Khmer Times.
Cham Prasidh, minister of industry and handicrafts of Cambodia said that this organization will become an important partner to boost the textile and clothing industry in the country. “We hope that the association will help attract investment in garments and related industries. We are ready to help and facilitate your investment in Cambodia.”
Cambodia is the eighth largest exporter of clothing and footwear, with annual exports of around 9.2 billion dollars (8.3 billion euros), which represents 78% of the country’s foreign sales.
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