Researchers call on Cambodia to enrich exports

Researchers from the Cambodian Economic Institute have called on the government to enrich and expand the kingdom's exports, which has enjoyed a rapid growth but with limited types of products.

Cambodia's volume of exports rose to 3 billion U.S. dollars in 2005 from 1.4 billion U.S. dollars in 2001, while its dominating portion went to textiles and other products only shared a little contribution, according to a seminar held by the institute here on Thursday.

For example, in 2005 as the exports amounted to 2.9 billion U.S. dollars, textiles accounted for 2.29 billion U.S. dollars or 79 percent, while formal agricultural products 3 percent, informal agricultural products 13 percent and transit trade products 5 percent, the seminar quoted the statistics from the country's central bank as saying.

Therefore, Cambodia has to enrich and expand the variety of its export products in order to tap the overall potential of its producing capability and balance any risk arising from the current monotony, analysts said at the seminar.

Tourism and textiles or garment have been Cambodia's major pillars of foreign currency attractions since it embarked on the road of market economy some 10 years ago.

Source: Xinhua