A group of bicycle manufacturers in Cambodia has reiterated its call on the European Union to maintain the preference tariff treatment under the “Everything but Arms” (EBA) scheme.
Cambodia underscores the importance of enhancing national strength and self-reliance in maintaining its sovereignty and independence.
After years of lobbying by the private sector for reduced public holidays, Cambodia has finally relented to slice off seven days, in the name of productivity, and making itself competitive.
As the months roll closer to the conclusion of the Regional Comprehensive Economic Partnership (RCEP) this year, Cambodia might just be able to visualise better trade opportunities to overcome the revenue impact from the withdrawal of the Everything but Arms (EBA) preference.
The possibility of a partial suspension of the Everything But Arms (EBA) preferential trade access that might target certain industries surfaced in the buzzing aftermath of the EU beginning its review process.
The dust had barely settled when the Cambodian government, revelling in its majority win for a renewed mandate, felt the blow from the European Union over its alleged general election manouvre to oust its opposition.
When Dr Sok Siphana, Cambodia’s top trade negotiator, met recently with top officials from the European Union’s Directorate-General for Trade, there was tension in the room.
Even without the removal of Everything but Arms, Cambodia’s economy is vulnerable to slowing garment, footwear and rice exports