On February 11 2020, the EU Commission announced the very first (partial) withdrawal of an Everything but Arms (EBA) status. It affects Cambodia, due to serious and systematic violations of the human rights principles enshrined in the International Covenant on Civil and Political Rights.
Why did EU withdraw from EBA from Cambodia?
Based on serious concerns about the deterioration of political, human, land and labour rights in Cambodia, in February 2019, the Commission opened a procedure for a withdrawal of the EBA preferences granted to Cambodia.
How important is EBA to Cambodia?
The EBA has played an important role in Cambodia’s economic growth and development for years. … Accounting for 17.3 percent of Cambodia’s total trade, the EU ranked the second largest trade partner of Cambodia after China.
What is EBA in Cambodia?
The preferential treatment enjoyed by Cambodia under “Everything But Arms” (EBA) – the EU’s trade arrangement for 48 Least Developed Countries in the world including four from Asean (Cambodia, Laos, Myanmar and Vietnam) is now temporarily lifted after the EU concluded that Cambodia had not upheld its EBA requirements, …
Is there duty from Cambodia?
As of today, 12 August, some of Cambodia’s typical export products such as garments, footwear and travel goods are subject to the European Union’s customs duties. The EU’s decision to partially withdraw Cambodia’s duty-free quota-free access to the EU market is now effective.
What does EBA mean?
What is an Enterprise Agreement(EA),or Enterprise Bargaining Agreement (EBA)? Enterprise agreements are agreements made at an enterprise level between employers and employees and their union, about terms and conditions of employment. They can also be made by more than one employer, with a group of employees.
Is Cambodia in EU?
Cambodia is one of the 10 members of the Association of Southeast Asian Nations (ASEAN). The countries as a group are the EU’s third largest trading partners outside Europe, after the US and China.
Who does Cambodia trade with?
The country’s main import sources now are China, the United States, Thailand, Vietnam, and Hong Kong. Most exports go to the United States, Hong Kong, Singapore, the United Kingdom, and Germany. Goods are freely smuggled between Cambodia and Thailand, and large volumes of Cambodian imports are undocumented and untaxed.
What is GSP Cambodia?
Established by the Trade Act of 1974, the GSP is the US’ largest and oldest trade preference programme, according to the USTR. It said the GSP “promotes economic development by eliminating duties on thousands of products when imported from one of 119 designated beneficiary countries and territories”.
Is Cambodia a country?
Cambodia, country on the Indochinese mainland of Southeast Asia. Cambodia is largely a land of plains and great rivers and lies amid important overland and river trade routes linking China to India and Southeast Asia.
What can I import from Cambodia?
India’s imports from Cambodia are predominantly textiles, non-ferrous metals, natural rubber, unwrought aluminium, bicycles and other cycles etc. Import certification, procedures and formalities to import goods to a country is almost same in all countries worldwide.
How wealthy is Cambodia?
Cambodia had a GDP of $24.57 billion in 2018. Per capita income, although rapidly increasing, is low compared with most neighboring countries. Cambodia’s two largest industries are textiles and tourism, while agricultural activities remain the main source of income for many Cambodians living in rural areas.
Is Cambodia Duty Free to us?
Cambodia is one of 119 countries and territories to benefit from the GSP programme. The US government has been providing duty-free access for exported Cambodian travel goods such as suitcases, backpacks, handbags and wallets under the GSP since July 2016.
What is the import tax in Cambodia?
Cambodia charges a flat 10 percent value added tax (VAT) on all imported goods. Cambodia also charges a special tax on certain imported goods. Cambodia levies an export tax on goods leaving the country which ranges between 0 and 50 percent.
Which countries are GSP?
As announced in Trade for all, the EU has stepped up its engagement with three GSP beneficiary-countries: Bangladesh, Cambodia and Myanmar.