Cambodia's exports to the European Union (EU) could see an estimated decline of 513 - 654 million USD a year if the EU suspends the Everything But Arms (EBA) trade preferences for the country, said a World Bank's report released on May 6.
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.
Cambodia has announced that it will file a lawsuit against the EU to the European court after Brussels applied high tariffs on rice exported from the Southeast Asian country.
Cambodia plans to step up cross-border trade activities and has begun talks with neighbouring countries to intensify trade ties, Cambodian Prime Minister Hun Sen said on April 2.
Cambodian Prime Minister Hun Sen on March 29 announced a number of measures to boost economic independence and support local exporters, given the possible lifting of the European Union (EU)'s preferential trade arrangement under the Everything But Arms (EBA) scheme.
Cambodia has unveiled several measures to support local manufacturers and exporters in case the European Union (EU) decides to temporarily strip trade preferences from the country, according to China’s Xinhua News Agency.
Cambodian Prime Minister Hun Sen on February 12 voiced his objection against interference in the country’s internal affairs.
Cambodia and Myanmar have raised their objections against the European Commission (EC)’s decision to impose tariffs on rice imports from the two Southeast Asian countries.
The European Commission (EC) on January 17 imposed tariffs on rice imported from Cambodia and Myanmar in a bid to curb a surge in rice imports from the two Southeast Asian countries.
Cambodia's economy enjoyed robust growth in 2018, driven by garment exports, construction and tourism, according to a statement released by the National Bank of Cambodia (NBC) on January 3.
Cambodia's economy is predicted to stay robust in the short and medium terms despite the uncertainty of preferential tariff system granted to the country by several trading partners, according to Cambodian Minister for Economy and Finance Aun Pornmoniroth.
