The European Union has decided to withdraw part of Cambodia’s duty-free trade access to the EU market under the European Union's Everything But Arms' (EBA) trade scheme over its record on human rights and democracy.
“Everything But Arms” trade privileges (or the EBA) entitles 47 countries recognized as least developed by the United Nations to export goods other than weapons to the EU, fully duty-free and quota-free. Cambodia was the second largest user of EBA preferences, behind Bangladesh.
On Feb 11, the European Union has decided to withdraw part of Cambodia’s from EBA trade shame. The retreat of tariff preferences will effect selected garment and footwear products, and all travel goods and sugar could lead to tariff amount around one-fifth or €1 billion of Cambodia's yearly exports to the EU. Unless the European Parliament and the Council object, this will take effect on Aug 12, 2020.
Click HERE to download our products list concerned by the EBA withdrawal.
The EU is Cambodia’s largest trading partner, accounting for 45% of its exports in 2018. Cambodia exported 5.4 billion Euros to the EU, and garments are a large share worth some 4.9 billion euros.
For more information do not hesitate to contact our Bansard Cambodia office at +855 23 986 850 or via email at cambodia@bansard.com.kh
Sources: European Commission, Reuters, AL JAZEERA,