The European Union’s involvement in Cambodia trade is usually defined by the Everything But Arms (EBA) Treaty, a free-trade agreement that many fear will expire soon.
Cambodia is doubling down efforts to sustain its high growth economy by striking trade deals as the future portents with the potential loss of EBA and GSP amid Vietnam’s recent EU deal
The threat of Everything But Arms withdrawal by European Union is no longer an uncertainty as Cambodia scurries to implement reforms and measures to meet the international standards including freedom of association and addressing labour disputes.
Some, if not many, of Cambodia’s ministers have been holding their positions for a long time. Some since the first mandate which started way back in 1998.
Enterprises and government need to do more to prepare people for the radical transformation in the economy because of disruptive technology in manufacturing that will displace millions of low-skilled, uneducated workers
The European Union, in both subtle and not so subtle ways, has started imposing sanctions on Cambodia. These, and US lawmakers’ further pressure with trade restrictions on Cambodia is predictable.
Instead of playing the blame game, Cambodia should focus on its next economic phase
EBA status allows the world’s poorest countries to sell any goods tariff-free to EU nations, except weapons. About 48 countries are EBA beneficiaries including Myanmar, Lao PDR, Bangladesh, Nepal, and Timor-Leste.