EU partially withdraws tariff preferences to Cambodia under EBA
Thursday, 13/08/2020 16:44 (GMT+7)
Cambodia’s annual 7-billion-USD garment and textile sector is expected to suffer losses from the European Union (EU)’s partial withdrawal of the tariff preferences granted to the Southeast Asian country under the Everything But Arms (EBA) trade agreement from August 12.
Workers at a garment-textile firm in Cambodia (Source: Khmer Times)
The move follows the EU decision made in February 2020 even though the Cambodian government and private sector have been trying to lobby the bloc not to implement or at least delay the withdrawal, according to the local media Khmer Times.
The Garment Manufacturers Association of Cambodia (GMAC) and the Cambodia Footwear Association (CFA) together with the European chamber of commerce have called again for the EU to postpone its partial withdrawal because of the devastating effect of COVID-19 on the industries, it reported.
The EU is Cambodia’s largest trading partner. The EU's decision affects one-fifth (or 1.08 billion USD) of Cambodia’s annual exports to the union./.
CPV (Source: VNA)
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