Cambodia has allocated a budget of US$1.2 billion to bolster its economy, which is struggling to cope with the impact of the Covid-19 pandemic and the withdrawal of some trade preferences by the European Union.
Meas Sok Sensan, spokesperson of the Ministry of Economy and Finance, told online news portal Fresh News that the partial suspension of preferences under the Everything But Arms (EBA) trade policy did not mean Cambodia would lose export markets in Europe.
“Europe is still Cambodia’s exporting destination. The EBA partial withdrawal means some Cambodian goods are no longer on the tax exemption list anymore,” he said.
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