Walmart: Walmart to Source more from Cambodia
Walmart is committed to buying
more garment, footwear and luggage products from Cambodia. The US multinational
is encouraged by the increased capacity of factories and improved labor
conditions in the country. It is also happy with the quality of garment,
footwear and luggage products.Walmart with a chain of large stores with
branches in most US states is a big buyer of garment products from Cambodia.
Cambodia’s garment and footwear exports to the United States were up 6.9 per
cent in the first half of this year.
The US last year granted duty-free benefits for Cambodia for the export of
travel goods such as luggage, backpacks, handbags and wallets under the
Generalised System of Preferences. The country gets 100 per cent preference
from Australia, New Zealand, Norway and Switzerland and 99 per cent preference
from the EU under the Everything But Arms clause.
The garment industry of
Cambodia earns 80 per cent of Cambodia’s foreign exchange earnings and employs
an estimated 3,50,000 people in more than 300 factories. Companies which buy
from Cambodia include H&M, Inditex, Marks & Spencer, New Look, Adidas,
Nike, Levi’s and Uniqlo.Cambodia relies heavily on garment exports to earn
foreign earnings. There are now plans to shift from low-priced garment
manufacturing to higher end manufacturing of automobile, machinery and
electronic parts.
Source: Et.retail.com,India
Friday, 10 November 2017