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Related Keywords: 5 percent this year, annual Cambodia Textile Summit, Cambodia, compared with 7 percent last year, cost of doing business, Garment Manufacturers Association Cambodia, increase productivity, loosing competitive advantage, low-cost destination, minimum wage hike, remain competitive in foot loose industry, see a slower percentage of growth

Cambodia likely to see a slower percentage of growth, at around 5 percent this year compared with 7 percent in 2016, Ken Loo, secretary-general of the Garment Manufacturers Association in Cambodia said at the annual Cambodia Textile Summit.

According to data from the Customs Department, Cambodia exported $7.3 billion worth of apparel and footwear products in 2016. The sector accounts for more than 70 percent of the country’s total exports with the vast majority of its products destined for the EU, US and Canada.

Related Keywords: APTMA, become unviable owing to a steep rise, boost falling exports, cost of doing business, expanding into retail markets, exports, revive closed production capacity, save collapsing industry, sharp increase in energy prices, shortages, support investment in textile industry, textile manufacturers, textile manufacturing

The textile manufacturers are expanding into retail markets as textile manufacturing and exports have become unviable owing to a steep rise in the cost of doing business mainly on account of sharp increase in energy prices and shortages in the last three years, said Aptma leader Gohar Ejaz.