Cambodia will still benefit from EBA

Cambodia will continue to benefit from the European Union’s Everything-but-arms (EBA) principle, according to a recent report submitted by the European Commission to the European Parliament and the European Council on the generalized scheme of preferences for 2016-2017. The report made no mention of a possible withdrawal from the EBA with Cambodia due to the political situation in the Kingdom. The Garment Manufacturers Association in Cambodia (GMAC) is urging investors to increase their stakes in the local garment and footwear industry, arguing that the recent report is proof that the EU will not cancel its EBA with Cambodia. Kaing Monika, deputy secretary general of GMAC, said the EU report was good news for the country’s garment sector, as EBA contributes significantly to Cambodia’s competitiveness in the international scene. (Source: Khmer Times)