US removes trade tariffs on Cambodian travel goods.

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US removes trade tariffs on Cambodian travel goods.

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Wow, good news; this sounds like it could make a big difference for Cambodian exports:
New trade privileges that allow Cambodian-manufactured travel goods duty-free access to the United States for the first time could see exports of these items increase by over 400 per cent in the coming years, industry experts said yesterday.

An amendment to the US Generalised System of Preferences (GSP) effective July 1 removed US customs tariffs on Cambodian-made travel products such as luggage, backpacks, handbags and wallets.

The items, which previously faced tariffs of between 4.5 and 20 per cent, can now enter the US duty-free under the expanded program, which grants tariff exemptions to the products of developing countries.

Vann Sou Ieng, chairman and president of the Garment Manufacturers Association in Cambodia (GMAC), said the inclusion of travel goods under the GSP program will make Cambodian factories more competitive and encourage new investment in the $6.3-billion garment industry, which employs roughly 700,000 workers.

“This [new trade privilege] gives us a real competitive edge and will attract more capital investment to Cambodia,” he said.

Sou Ieng stressed that the Kingdom was one of just two countries in the Asia-Pacific region to be granted a GSP tariff exemption on travel goods...
There is however a small BUT in the fine print:
According to the Office of the US Trade Representative (USTR), a country’s GSP privileges can be limited or withdrawn if it is found to be in violation of internationally recognised standards for worker rights, among other things.
Which might be useful for improving working conditions in factories ?
However, Cambodian Minister of Commerce Pan Sorasak said the government would not let that happen.

“We will ensure that [travel goods] manufacturers show a high level of responsibility for the benefit of our citizens,” he said. “It will be an industry that exhibits good corporate social responsibility.”
http://www.phnompenhpost.com/business/t ... ps-tariffs
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Re: US removes trade tariffs on Cambodian travel goods.

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October 4, 2018 / 8:42 AM
Cambodia H1 garment exports up 16.1 pct, economy to grow 7 pct - World Bank
PHNOM PENH, Oct 4 (Reuters) - Cambodia’s garment exports grew 16.1 percent in the first half of 2018 from the same period last year, the World Bank said on Thursday, boosted by a trade agreement that allows Cambodia to export travel goods to the United States duty free.

“This is partly supported by the new agreement with the U.S. on travel goods,” said Miguel Martin, the World Bank’s senior country economist in Cambodia.

Washington in 2016 expanded trade preferences, under changes to the Generalized System of Preferences (GSP), for Cambodia and other least developed countries producing goods such as bags and luggage and accessories for travelers.
https://www.reuters.com/article/cambodi ... SL4N1WK182
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Re: US removes trade tariffs on Cambodian travel goods.

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Big rise in funds for travel goods manufacturing
Hor Kimsay | Publication date 06 March 2019 | 08:57 ICT

Cambodia has seen investment in the manufacture of travel goods soar noticeably in early this year as the Council for the Development of Cambodia (CDC) figures reveal grants for bag manufacturers accounted for nearly half of all investment projects.

Industry insiders claim the spike is due to tariff privileges Cambodian-made travelling goods receive from the US under its Generalised System of Preferences (GSP) and the increasing trend of global manufacturing firms leaving China due to rising operating costs.

CDC has granted investment approval to a total of 45 projects from January to Tuesday, according to figures on its Facebook page, of which 21, almost half, were for bag manufacturing. The accumulated investment capital for the 21 projects is about $100 million, and if all projects materialise, 31,951 jobs will be created.
https://www.phnompenhpost.com/business/ ... ufacturing
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Re: US removes trade tariffs on Cambodian travel goods.

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Cambodia enjoys surge in export of footwear, travel goods
Cambodia’s export of travel goods surged in the January-September period of this year to 385 million USD, mostly thanks to tax privileges they received from the US under its Generalised System of Preferences (GSP).
VNA Monday, November 18, 2019 16:41
Phnom Penh (VNA) – Cambodia’s export of travel goods surged in the January-September period of this year to 385 million USD, mostly thanks to tax privileges they received from the US under its Generalised System of Preferences (GSP).

According to the Phnom Penh Post, an amendment to the GSP that went into effect in July 2016 removed US customs tariffs on Cambodian-made travel products such as luggage, backpacks, handbags and wallets.

The items, which previously faced tariffs of between 4.5 and 20 percent, now enter the US duty-free under the expanded programme.

Under the programme, approximately 5,000 products from 122 beneficiary developing countries and territories – including 43 least-developed countries – are eligible for duty-free export to the US.

The US’ and the EU’s preferential trade schemes have been very beneficial to the Kingdom’s footwear and travel goods exports, Ministry of Commerce secretary of state Sam Sereirath was quoted as saying.

Garment Manufacturers Association in Cambodia chairman Van Sou Ieng said that there has been a large increase in investment flow into the travel goods sector now since Cambodia obtained market access under the GSP to the US, adding that this is a good sign.

Data from the Ministry of Economy and Finance showed that in 2016, Cambodian goods exported under the GSP scheme was 50 million USD. Last year, the figure went up dramatically to 400 million USD.

According to the International Labour Organisation, Cambodia remained among the top 10 footwear exporters, with its exports valued at more than 1 billion USD last year, a 19 percent increase from 2017.

Cambodia’s main export markets for shoes are the EU (46 percent), the US (17 percent), Japan (12 percent) and Canada (5 percent)./.
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Re: US removes trade tariffs on Cambodian travel goods.

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GMAC: Cambodia’s Export of Travel Goods Exceeded $1.2B in 2019
16/03/20 22:09
Phnom Penh (FN), Mar. 16 – The Garment Manufacturers Association in Cambodia (GMAC) said Cambodia’s export of Travel Goods to the world exceeded USD 1.2 billion in 2019, starting from a very low base of about USD 50 million in 2016, according to the press statement dated Monday.

“The United States is our biggest export market for the product accounting for about 80 percent of the total exports.”

“This phenomenal growth in exports is due to the joint lobby efforts of the Ministry of Commerce (MOC) and GMAC to the US Congress that resulted in the review of the US GSP in 2016 and included travel goods items in the GSP’s eligibility list,” the statement added.
=FRESH NEWS
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Re: US removes trade tariffs on Cambodian travel goods.

Post by SternAAlbifrons »

How quaint.
Ahh.... remember the good old days, seems so long ago now, when there was a market for travel goods.
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Re: US removes trade tariffs on Cambodian travel goods.

Post by CEOCambodiaNews »

SternAAlbifrons wrote: Tue Mar 17, 2020 3:23 am How quaint.
Ahh.... remember the good old days, seems so long ago now, when there was a market for travel goods.
And yet...

Travel Goods Export Expected to Reach US$1 billion in 2020
AKP Phnom Penh, October 20, 2020 --

Cambodia's export of travel goods and bags are expected to rise to about US$1 billion in 2020 while the number of factories producing the products increased to 101.

Speaking at a meeting on the implementation of Better Factories Cambodia (ILO-BFC) project for travel goods and bag factories and enterprises held here on Oct. 20, H.E. Ith Samheng, Minister of Labour and Vocational Training, noted the remarkable progress of the sector which will provide more job opportunities and contribute to the economic development of Cambodia.

With the growth of travel goods and bag factories, H.E. Ith Samheng called on them to carry out the ILO-BFC project by registering as members to gain benefits such as incentives for purchase orders exporting to markets with tax preferences offered.

They are also advised to form an association in line with the Law on Trade Union to represent them in social dialogues with effectiveness and transparency.

In terms of export, the largest market for Cambodian travel goods and bags is the U.S., which accounts for 80 percent of total exports.

Cambodia's exports to the U.S. market have continued to increase as travel goods and bags, including handbags, backpacks and suitcases, have been granted duty-free access to the United States under the Generalised System of Preferences (GSP) since 2016.

Before benefiting from the GSP in July 2016, Cambodia's export of travel products was valued only at US$50 million.

Official figures from the U.S. Census Bureau show that in the first eight months of 2020, Cambodia's total exports to the U.S. market reached US$4 billion, up 22 percent from the same period last year.
https://www.akp.gov.kh/post/detail/220469
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