Business groups in Cambodia are warning that tens of thousands of jobs and billions of dollars worth of exports may be at risk as the European Union comes a step closer to deciding whether it will end preferential trade arrangement for the Southeast Asian country.
The EU on Monday concluded its six-month monitoring period of Cambodia, a step in its review of the country’s eligibility for duty-free access to the European market under the Everything But Arms scheme.
EU officials now have three months to draft conclusions on whether the trade preferences should be withdrawn due to “severe deficiencies” in Cambodia’s human rights record and a democratic backslide.
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