Cambodia must embark quickly in an effort to diversify its manufacturing base.
The United Nations Special Rapporteur on Human Rights in Cambodia said the government must take measurable steps to promote human rights in order to avoid the withdrawal of the Everything-but-arms treaty with the European Union.
The British Chamber of Commerce in Cambodia says the withdrawal of EBA risks making Cambodian factories commercially unviable.
Any temporary suspension of the EBA treaty might have a long-term negative impact.
If nothing else happens, a dismal outlook looms ahead as Cambodia’s trade preferences under the Everything But Arms (EBA) agreement granted in 2011 by the European Union (EU) risk termination in 18 months.
The EU’s withdrawal of Cambodia’s trade preferences under the Everything but Arms scheme will now force the country to rethink its industrial policy, writes Soun Nimeth.
Experts believe Cambodia is still safe over the Everything But Arms (EBA) scheme.
Two countries in Asean have now been accorded pariah-like status in what seems to be clear double standards practiced by the EU.
The EU has recently issued a statement regarding its trade preference in the Everything but Arms (EBA) programme for Cambodia.
The European Union says they are considering the removal of Cambodia from its Everything-but-arms (EBA) trade scheme.
Representatives of the private sector urge the EU not to cancel the Everything-but-arms.
Government officials and business leaders say economic sanctions from the European bloc are an unlikely scenario.
Moving forward, so long as the CPP leadership is committed to maintaining a democratic regime, it is imperative that doing business as usual won’t help.