Cambodia's exports to the European Union (EU) could see an estimated decline of 513 - 654 million USD a year if the EU suspends the Everything But Arms (EBA) trade preferences for the country, said a World Bank's report released on May 6.
Hanoi (VNA)🅠 - Cambodia's exports to theEuropean Union (EU) could see an estimated decline of 513 - 654 million USD ayear if the EU suspends the Everything But Arms (EBA) trade preferences for thecountry, said a World Bank's report released on May 6.
The comment was made in the Cambodia Economic Update, basedon last year’s data on the value of Cambodia’s three key EU exports, includingclothing, footwear and milled rice.
🅘 A bankofficial said the figure would have been even higher if bicycle exports to theEU, which were valued at 331 million USD last year, had been included in thestudy.
Early thisyear, EU tariffs were introduced on Cambodian and Myanmar milled rice importsto the bloc at 200 USD per tonne in the first year. The measure intends toprotect local rice producers following complaints from Italian and Spanishfarmers that they are being undercut. WBCountry Director for Cambodia Inguna Dobraja said improving Cambodia’sinvestment climate and reducing the cost of doing business, along with buildinga skilled labour force, are the key priorities to sustain strong economicgrowth in the medium-term. The WBreport predicts that the Cambodian economy will grow by 7 percent this year, drivenprimarily by the rapid expansion of exports and robust international demand forthe Kingdom’s goods. In therisk assessment section of the report, the bank highlighted the potentialwithdrawal of the EU’s EBA scheme as a major factor impacting Cambodia’seconomic outlook, in addition to the inflow of foreign direct investment –which is currently financing many sectors in the country. Thereport revealed that Cambodia’s garment exports to the EU were valued at 3.65billion USD last year, while footwear and milled rice shipments reached 508million USD and 177.5 million USD, respectively. If theEU withdraws Cambodia’s EBA preferential trade status, and thus introducingtariffs on a number of key exports into the bloc, apparel will face a 12percent tax, footwear 16 percent and bicycles 10 percent. Speakingat the report announcement ceremony, Deputy Governor of the National Bank ofCambodia Neav Chanthana said the government has prepared a strategy to negatethe impact should the EU decide to withdraw Cambodia’s EBA status. In late March, Cambodian Prime Minister Hun Sen announcedlarge-scale economic reforms with a 17-point strategy to stimulate Cambodianeconomic growth which, according to him, could save the private sector up to 400million USD per year.-VNA
Two-way trade between Cambodia and the Republic of Korea (roK) is expected to surge sharply this year as turnover reached 27.7 million USD in January, a year-on-year rise of 77 percent.
Cambodia’s National Assembly (NA) on Dec. 28 approved the draft law on the framework agreement on comprehensive economic cooperation between ASEAN and India.
Cambodia and Thailand have pledged to boost bilateral trade, despite military confrontation at the border disputed areas near the temple of Preah Vihear , a World Heritage site.
Two-way trade between Vietnam and Cambodia in the first four months of the year reached 1.3 billion USD, a 10 percent rise over the same period last year.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
Illustrative image (Source: Internet) 
