AKP Phnom Penh, May 10, 2021 –Cambodia has joined other countries and partners in a workshop to discuss the Implications of Least Developed Country (LDC) Graduation on the Textile and Clothing Sector
H.E. Pich Rithi, Secretary of State at the Ministry of Commerce, attended as a speaker the event held late last week via Videoconference.
The workshop, co-organised by WTO, UN DESA, UNCTAD and ITC, aimed to discuss challenges and solutions for LDC graduation as well as the impact of COVID-19 on textile and clothing sector.
Representatives of the above-said organisations and LDCs such as Bangladesh, Cambodia, Laos, and Nepal attended the workshop.
On the occasion, H.E. Pich Rithi mentioned about the importance of garment sector in boosting Cambodia’s economic growth, advantages of generalised system of preference (GSP) for Cambodia’s export and challenges of LDC graduation, which would affect the GSP, investment attraction and Cambodia’s competitiveness, as well as about the impact of COVID-19 on garment sector and opportunity for trade assistance.
He also laid stress on Cambodia’s policy and strategy to strengthen its competitiveness and readiness for LDC graduation such as diversification of export markets through bilateral and multilateral free trade agreements, boosting support from development partners, and creation of trade policy and strategy.
The Cambodian Ministry of Commerce has so far elaborated Cambodia Trade Integration Strategy 2019-2023 and E-commerce strategy.
Source: Agency Kampuchea Press