News

The EU’s tax free status partially withdrawn

THE Kingdom’s annual $7 billion garment and textile sector will see the partial loss of a preferential zero-tax trade deal provided by the European Union (EU) from today as the Cambodia-China free-trade agreement (FTA) is on its way for final signing. ...

Sorn Sarath
https://www.khmertimeskh.com/50753939/the-eus-tax-free-status-partially-withdrawn/

Industry makes another appeal against EU tariffs

Three associations in the garment, footwear and travel goods and commerce yesterday once again sent a letter to the European Parliament appealing to postpone the scheduled partial withdrawal of the Everything but Arms (EBA) trade preferences. ...

Sok Chan
https://www.khmertimeskh.com/50740483/industry-makes-another-appeal-against-eu-tariffs/

400 factories in Cambodia suspend operations, affecting over 150,000 workers due to COVID-19

About 400 garments, footwear and travel goods factories in Cambodia have suspended their operations, leaving over 150,000 workers jobless due to the COVID-19 pandemic, according to a joint statement on Wednesday. ...

Khmer Times Staff
https://www.khmertimeskh.com/50740479/400-factories-in-cambodia-suspend-operations-affecting-over-150000-workers-due-to-covid-19/

GMAC: EC didn’t reject EBA delay

The Garment Manufacturers Association in Cambodia (GMAC) on Sunday denied a news report that the European Commission had rejected its request to postpone the withdrawal of the EBA scheme for 12 months. ...

May Kunmakara
https://www.phnompenhpost.com/national/gmac-ec-didnt-reject-eba-delay

$50 million emergency fund for small and medium enterprises

The government yesterday launched a $50million special fund for small and medium Enterprise (SMEs) to boost competitiveness, productivity and daily business operations amid the impact of the pandemic Covid-19 and a 20 percent withdrawal of zero tariffs under the EU’s Everything but Arms (EBA) trade ...

Sok Chan
https://www.khmertimeskh.com/50702354/50-million-emergency-fund-for-small-and-medium-enterprises/

GDCE fasttracks shipping to ease pressure on sector

The General Department of Customs and Excise (GDCE) on Friday issued a set of measures to help the ailing shipping and garment sectors as the supply of raw materials from China dries up. ...

Thou Vireak
https://www.phnompenhpost.com/business/gdce-fasttracks-shipping-ease-pressure-sector

Policy against economic risks turns to action

The Ministry of Economy and Finance on Tuesday issued two separate letters to its General Department of Taxation (GDT) and its General Department of Customs and Excise (GDCE) ordering immediate action to mitigate risk to the Kingdom’s economy. ...

May Kunmakara
https://www.phnompenhpost.com/business/policy-against-economic-risks-turns-action

H&M reassess strategy amid EBA withdrawal

Swedish fashion giant H&M Group said they were evaluating how the EU’s decision to withdraw one-fifth of the ‘Everything But Arms’ (EBA) scheme would impact their business and production strategy in Cambodia. ...

Niem Chheng
https://www.phnompenhpost.com/national-politics/hm-reassess-strategy-amid-eba-withdrawal

Meng: FTA with China will help us forget EBA

The loss of trade preferences in Europe would be more than offset if Cambodia manages to enter a free trade agreement (FTA) with China, said Cambodian Chamber of Commerce (CCC) president Kith Meng. Meng on Tuesday said landing an FTA with the second-largest economy in the ...

Hin Pisei
https://www.phnompenhpost.com/business/meng-fta-china-will-help-us-forget-eba

PM: Economic growth hampered by Covid-19

Prime Minister Hun Sen on Tuesday reiterated that the Kingdom’s projected economic growth of 6.5 per cent will be hit hard by the Coronavirus outbreak, and not because of the EU’s partial withdrawal of the ‘Everything But Arms’ (EBA) scheme. ...

Niem Chheng
https://www.phnompenhpost.com/national-politics/pm-economic-growth-hampered-covid-19

Hun Sen: EU should respect Kingdom’s stance on human rights, democracy

While Cambodia accepts the European Commission’s recommendation for the partial suspension of the Kingdom’s Everything-but-arms (EBA) trade status, Prime Minister Hun Sen said the European Union should also respect the Kingdom’s stance. ...

Ben Sokhean
https://www.khmertimeskh.com/50692508/hun-sen-eu-should-respect-kingdoms-stance-on-human-rights-democracy

GMAC: Pulling rug from under workers’ feet not way to proceed

The Garment Manufacturers Association in Cambodia (GMAC) has expressed disappointment at the European Commission’s (EC’s) recent decision to suspended one-fifth of the Everything But Arms (EBA) scheme awarded to Cambodia. ...

Niem Chheng
https://www.phnompenhpost.com/national-politics/gmac-pulling-rug-under-workers-feet-not-way-proceed

Ministry to promote workers’ rights amid partial EBA status suspension

The Ministry of Labour and Vocational Training yesterday vowed that it would continue to promote workers’ rights and fair working conditions for those in the garment sector amid the recommended partial withdrawal of the European Union’s Everything but arms (EBA) preferential trade scheme in Cambodia. ...

Sun Mesa
https://www.khmertimeskh.com/50692033/ministry-to-promote-workers-rights-amid-partial-eba-status-suspension

Private sector ‘regrets’ EBA partial withdrawal decision

The Cambodian Chamber of Commerce and other business chambers including the Malaysian Business Council of Cambodia, European Chamber of Commerce in Cambodia and American Chamber of Commerce in Cambodia have expressed their regret over the recommendation by the European Commission to partially withdraw the Everything ...

Poovenraj Kanagaraj
https://www.khmertimeskh.com/50691649/private-sector-regrets-eba-partial-withdrawal-decision

Ministry: EBA decision ‘politically driven’

The Ministry of Foreign Affairs and International Cooperation has reacted to the European Commission’s (EC) decision to partially suspend the Everything But Arms (EBA) scheme, saying it did not reflect the reality in Cambodia. An analyst also said the suspension would not make the Cambodian ...

Niem Chheng
https://www.phnompenhpost.com/national-politics/ministry-eba-decision-politically-driven

EU partially withdraws EBA

The EU Commission on Wednesday announced the partial withdrawal of the Everything But Arms (EBA) scheme, citing a serious and systematic violation by Cambodia of principles in the four core human and labour rights. The suspension affects one-fifth or €1 billion ($1.08 billion) of Cambodia’s ...

Niem Chheng
https://www.phnompenhpost.com/national-politics/eu-partially-withdraws-eba

Still no word about EBA but rice likely unaffected

Officials on Monday said the government had not received an official statement regarding the EU’s potential withdrawal of Cambodia’s Everything But Arms (EBA) scheme. The EU launched the EBA withdrawal procedure on February 12, citing “a deterioration of democracy [and] respect for human rights” in ...

Khorn Savi
https://www.phnompenhpost.com/national/still-no-word-about-eba-rice-likely-unaffected

China will support Kingdom despite EBA withdrawal: Official

President Xi Jinping has reassured Prime Minister Hun Sen that China will continue to support the Kingdom’s economy despite a potential Everything-but-arms suspension by the European Commission this month. ...

Sun Mesa
https://www.khmertimeskh.com/50688230/china-will-support-kingdom-despite-eba-withdrawal-official

Growth forecast falls to 6.5% as gov’t eyes more exports to US

The government downgraded its economic growth forecast for this year to 6.1 per cent from its earlier 6.5 per cent projection, Ministry of Economy and Finance undersecretary of state Phan Phalla said on Thursday. Speaking at a public forum on Macroeconomic Management and Budget Law ...

May Kunmakara
https://www.phnompenhpost.com/business/growth-forecast-falls-65-govt-eyes-more-exports-us

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