Why EU withdrawal EBA for Cambodia?
Why EU withdrawal EBA for Cambodia?
The EU effectively suspended EBA for Cambodia on August 12 last year, citing human rights abuses. Hun Sen said he did not regret anything related to the situation. “I didn’t object to the withdrawal, and I will not request that they restore the preferential trade scheme.
What is GSP Cambodia?
Cambodia’s continued eligibility for the US Generalized System of Preferences (GSP) scheme is currently under review. The country’s entitlement to benefit from the initiative, which currently only extends to Cambodia‑sourced travel and bag products, came due for reevaluation in December 2020.
Is Cambodia Part of EU?
Cambodia is a member of WTO since 2004 and, as a least developed country, benefits from the EU’s Everything But Arms scheme, which grants unilateral duty free, quota free access for all exports, except arms and ammunition.
When EBA withdrawal in Cambodia?
12 August 2020
Following a period for comments, on 12 February 2020, the Commission adopted a Delegated Regulation on a temporary and partial withdrawal of tariff preferences granted to Cambodia under the EBA. The Regulation entered into force on 25 April 2020 and takes effect as of 12 August 2020.
How EBA affect Cambodia?
However, Cambodian Labour Confederation president Ath Thorn said yesterday that the withdrawal of EBA from Cambodia will hurt the Cambodian economy as about 60 percent of Cambodia’s industrial products are exported to the EU and about 40 percent to the United States.
How important is EBA to Cambodia?
The remaining 80 percent of Cambodia’s exports continue to enjoy preferential (duty-free, quota-free) access to the EU market. The EBA has played an important role in Cambodia’s economic growth and development for years.
Is Cambodia eligible for GSP?
Cambodia became a GSP beneficiary in 1997 and in 2016 exported nearly $179 million duty free to the United States under the program.
What is GSP benefit?
GSP promotes economic growth and development in the developing world. GSP promotes sustainable development in beneficiary countries by helping these countries to increase and diversify their trade with the United States. The GSP program provides additional benefits for products from least developed countries.
When did Cambodia become member of WTO?
13 October 2004
Cambodia and the WTO Cambodia has been a member of WTO since 13 October 2004.
What benefits can Cambodia get from being a WTO member?
Finally, as a membership of the WTO, Cambodia gains such a valuable benefits like ensuring the peace and stability under the commerce-base. The fact is that Commercial base accesses to the prosperity, increasing the people living standard, and especially reducing the corruption.
