Phnom Penh (FN), Nov. 8 – Carmen Moreno, the new European Union ambassador to Cambodia, is keen to see Everything But Arms (EBA) preferential tariffs continued for Cambodia, speaking in a courtesy call on Minister of Foreign Affairs Prak Sokhonn at the Ministry on Friday, according to Koy Kuong, spokesperson for the Ministry of Foreign Affairs.
"The new ambassador expresses interests to promote partnership and cooperation to reach common goal. In this sense, to continue EBA for Cambodia, as the kingdom has enjoyed since 2001,”said the spokesperson.
EBA is one of the EU's Generalised Scheme of Preferences (GSP), which allows vulnerable developing countries to pay fewer or no duties on exports to the EU, giving them vital access to the EU market and contributing to their growth. The EBA scheme unilaterally grants duty-free and quota-free access to the European Union for all products (except arms and ammunition) for the world's Least Developed Countries, as defined by the United Nations.
Cambodia-EU trade volume in 2018 was USD 7.5 million. From 1994 to 2015, the EU has provided grant aids to Cambodia worth approximately of USD 700 million.