Cambodia’s garment exports to Australia increased by 17 percent in the first nine months of the current year.

This has been mainly because of the Regional Comprehensive Economic Partnership (RCEP) of which both are members. The 15-nation free trade agreement of which both are members provides duty-free access to almost 90 percent of goods between member countries.

While Cambodia is a net exporter of finished garment products, Australia is a net importer.Still Australia’s share in total apparel exports from Cambodia is a mere one percent. It shows the vast opportunity for Cambodia and Australia to boost the trade volume between the two.The Australian market, meanwhile, prefers more casual garments compared to America and Europe.

Cambodia’s earnings from exports of garment products – clothes, footwear, and travel goods – during the January to September period this yearincreased by 24 percent. The US is the top importer of Cambodia’s garments, with a share of 34 percent. The garment sector is the largest foreign exchange earner for Cambodia, accounting for almost 60 percent of the country’s total export value. There was a nearly 40 percent growth from May 2022 to June 2022 for garments, footwear and travel goods exports from Cambodia.