World Bank Warns Cambodia Could Lose Big If Europe Trade Benefits Withdrawn

The decline in textiles production would also lead to a decline in garment exports of between $320 million and $381 million, the World Bank said.

Phnom Penh – Cambodia could lose as much as $600 million if the European Union decides to suspend it from a lucrative preferential trade scheme over human rights concerns, the World Bank has estimated.

In an official assessment of the cost to Cambodia’s economy if the E.U. withdraws the country from the Everything But Arms (EBA) scheme, the Bank on Monday said the value of Cambodian goods exported to Europe would drop by between $513 million and $654 million as increased tariffs put off buyers.

The decline in textiles production would also lead to a decline in garment exports of between $320 million and $381 million, it said.

In full: https://www.voacambodia.com/a/world-bank-warns-cambodia-could-lose-big-if-europe-trade-benefits-withdrawn/4907568.html

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