Cambodia’s rice exports to China have surged strongly after the European Union (EU) imposed duties on rice imports from the Southeast Asian nation, the World Bank (WB) said on May 6 (Photo: VNA) Hanoi (VNA) – Cambodia’s rice exports to China have surged strongly after the European Union (EU) imposed duties on rice imports from the Southeast Asian nation, the World Bank (WB) said on May 6.
The EU in January imposed tariffs for three years on rice imported from Cambodia and Myanmar to curb an increase in imports from those two countries and to protect EU producers such as Italy.
Cambodia has filed a challenge with the European Court of Justice (ECJ) against the duties.
According to the WB’s country economic update, after the tariffs were imposed, Cambodia’s milled rice exports to the EU in February were only 10,080 tonnes, a 57.8 percent decline from the previous month.
Cambodia exported 270,000 tonnes or 43 percent of its total milled rice exports to the EU in 2018, the WB said.
The decline in Cambodia’s rice exports to the EU was more than offset by the increase in the country’s rice exports to the Chinese market, the WB said in its report.
Cambodia’s rice exports to China grew by 45.6 percent, and it managed to increase its overall exports of rice by 2 percent during the first two months of the year.
Cambodia at present gets a trade preference from the EU known as Everything But Arms (EBA), making all Cambodian exports duty free except arms.
The EU accounts for more than one-third of Cambodia’s export value, including garments, footwear and bicycles.
In February, the EU started an 18-month process that could lead to a suspension of Cambodia’s EBA status.
The WB said if the EBA is suspended, Cambodia would see a maximum decline in exports to the EU of 654 million USD.-VNA
The EU in January imposed tariffs for three years on rice imported from Cambodia and Myanmar to curb an increase in imports from those two countries and to protect EU producers such as Italy.
Cambodia has filed a challenge with the European Court of Justice (ECJ) against the duties.
According to the WB’s country economic update, after the tariffs were imposed, Cambodia’s milled rice exports to the EU in February were only 10,080 tonnes, a 57.8 percent decline from the previous month.
Cambodia exported 270,000 tonnes or 43 percent of its total milled rice exports to the EU in 2018, the WB said.
The decline in Cambodia’s rice exports to the EU was more than offset by the increase in the country’s rice exports to the Chinese market, the WB said in its report.
Cambodia’s rice exports to China grew by 45.6 percent, and it managed to increase its overall exports of rice by 2 percent during the first two months of the year.
Cambodia at present gets a trade preference from the EU known as Everything But Arms (EBA), making all Cambodian exports duty free except arms.
The EU accounts for more than one-third of Cambodia’s export value, including garments, footwear and bicycles.
In February, the EU started an 18-month process that could lead to a suspension of Cambodia’s EBA status.
The WB said if the EBA is suspended, Cambodia would see a maximum decline in exports to the EU of 654 million USD.-VNA
VNA
