A boat travels along the Mekong river as high-rise buildings are seen in the distance in Phnom Penh, Cambodia (Photo: AFP)Hanoi (VNA) – The Cambodianeconomy is projected to expand 6.1 percent this year, lower than the growthrate of 7.1 percent recorded in 2018, due to external headwinds, said Secretaryof State of Cambodia’s Ministry of Economy and Finance Vongsey Vissoth onJanuary 30.
The country’s garment-textile exports,tourism development and construction sector may be adversely affected if the EuropeanUnion (EU) suspends the Everything but Arms (EBA) deal with Cambodia, he added.
The EU started the 18-month process thatcould lead to the temporary suspension of Cambodia’s duty-free trading accessto the EU market under the EBA scheme in February last year.
A final decision on whether to withdraw thistrade privilege from Cambodia or not will be made next month.
The country’s exports to the EU valued at5.86 billion USD in 2018, about 95 percent of which entered the bloc duty-free,taking advantage of the EBA preferences.
Garments and footwear are Cambodia’sbiggest exports, employing about 750,000 people in 1,100 factories./.
The country’s garment-textile exports,tourism development and construction sector may be adversely affected if the EuropeanUnion (EU) suspends the Everything but Arms (EBA) deal with Cambodia, he added.
The EU started the 18-month process thatcould lead to the temporary suspension of Cambodia’s duty-free trading accessto the EU market under the EBA scheme in February last year.
A final decision on whether to withdraw thistrade privilege from Cambodia or not will be made next month.
The country’s exports to the EU valued at5.86 billion USD in 2018, about 95 percent of which entered the bloc duty-free,taking advantage of the EBA preferences.
Garments and footwear are Cambodia’sbiggest exports, employing about 750,000 people in 1,100 factories./.
VNA
