Our partnerships with a number of factories in China have been established for over 30 years. It has been an adventurous journey from the start as we have seen changes and fluctuation within economies both good and bad. We have continued to explore the opportunities available to us over the years and have worked closely to establish lasting relationships built on trust and respect. This is why we value our frequent visits to China to maintain these strong links.
China’s GDP was US$10.86 trillion in 2015 and grew by 6.7% in the first quarter of 2016.
Bangladesh aims to become a middle income country by 2021.
Our partnerships with our factories in Bangladesh have been an exciting venture for us as we witness the growth and development of the economy. Almost 100 UK businesses operate in Bangladesh, including well known companies like HSBC, Unilever and GSK. The government’s strategic vision for 2021 includes the plan for growth through massive investment in infrastructure, skills development and trade. Our factories are happy to work closely with us and have proven successful in the manufacture and import of goods into our ports.
Cambodia’s economic activity remains strong driven by robust exports, tourism and construction.
Our partnership with our factories in Cambodia have grown over the years. Over the last decade, Cambodia’s gross domestic product grew at an average rate of 8.2%. The country’s GDP is expected to have expanded 6.9% in 2015 and it is projected to remain strong this year. Despite Cambodia’s problems with flooding and in the political arena, economic activity remains strong and fluid. We believe that our factories will continue to serve us well as they have done over the years.
Vietnam is one of the most vibrant economies in Asia with a large market for capital goods and a growing domestic market for consumer goods.
Our partnerships with our factories in Vietnam are well established and vital for providing key customers with the consumer goods to the UK market. Vietnam is forecast to be one of the top 10 fastest growing economies in the next few decades.
Vietnam has an ambitious programme of major infrastructure developments including new urban railway networks, a new international hub airport and expansion of regional airports. Increasing numbers of UK companies are following well established brands like Standard Chartered, HSBC, Karen Millen and Oasis into the market. Rolls Royce motor cars, Mini and Marks and Spencer established a presence in 2014. We are privileged in having a well-established partnership with our factories in Vietnam.