EU Prepares to Withdraw Cambodia From Trade Scheme

The World Bank has warned that Cambodia’s economy will face increased risks if the EU presses ahead with Cambodia’s expulsion from the scheme.

Phnom Penh – The European Union, Cambodia’s largest export market, is making preparations for the country’s expulsion from a preferential trade scheme that guarantees tariff-free access to EU markets for Cambodian goods, according to the EU ambassador.

George Edgar, EU ambassador, said in an email on Tuesday that starting the procedure for removing Cambodia from the Everything But Arms (EBA) scheme reflected the concerns in Brussels over the deterioration of human rights and basic freedoms.

“The formal withdrawal procedure for the Everything But Arms arrangement in relation to Cambodia has not yet launched. Preparations are being made for the formal decision by the European Commission that would launch the procedure,” he wrote in an email.

In full: https://www.voacambodia.com/a/eu-prepares-to-withdraw-cambodia-from-trade-scheme/4660258.html

© 2018, The Cambodia Daily. All rights reserved. No part of this article may be reproduced in print, electronically, broadcast, rewritten or redistributed without written permission.