Cambodia Prepares for European EBA Sanctions
Posted: Mon Feb 24, 2020 1:55 pm
Cambodia Not to Ask EU to Revoke the Partially Suspension of EBA
AKP Phnom Penh, February 24, 2020 --
The Head of the Royal Government of Cambodia this morning underlined that the Kingdom will not request the EU to take back its decision to partially withdraw the country’s ‘Everything But Arms’ (EBA) tariff benefits.
Speaking at a press conference here at the Peace Palace, Samdech Akka Moha Sena Padei Techo HE said Cambodia has already prepared to respond to the EU’s partial suspension (20 percent) of Cambodia’s duty-free access.
“No need to exchange Cambodia’s sovereignty with some US$100 million that Cambodia will lose because of the partial suspension of EBA on our products exported to the EU,” he stressed.
Samdech Techo HE encouraged the garment and textile factories whose products are not on the list of suspension to work properly, but for those that suffer from the EU’s decision, they will benefit from a tax holiday from six months to a year.
In addition, all affected factories will have an excuse for their non-payment for the National Social Security Fund.
For the workers who are suspended or lose their jobs, their respective factories will provide 40 percent of the minimum wage to them, and the Royal Government will contribute 20 percent, therefore each worker will receive US$120 per month (US$190 minimum wage), plus 1 or 2 week short-term training from the Ministry of Labour and Vocational Training at the factories for 6 months, he continued.
https://www.akp.gov.kh/post/detail/26565
AKP Phnom Penh, February 24, 2020 --
The Head of the Royal Government of Cambodia this morning underlined that the Kingdom will not request the EU to take back its decision to partially withdraw the country’s ‘Everything But Arms’ (EBA) tariff benefits.
Speaking at a press conference here at the Peace Palace, Samdech Akka Moha Sena Padei Techo HE said Cambodia has already prepared to respond to the EU’s partial suspension (20 percent) of Cambodia’s duty-free access.
“No need to exchange Cambodia’s sovereignty with some US$100 million that Cambodia will lose because of the partial suspension of EBA on our products exported to the EU,” he stressed.
Samdech Techo HE encouraged the garment and textile factories whose products are not on the list of suspension to work properly, but for those that suffer from the EU’s decision, they will benefit from a tax holiday from six months to a year.
In addition, all affected factories will have an excuse for their non-payment for the National Social Security Fund.
For the workers who are suspended or lose their jobs, their respective factories will provide 40 percent of the minimum wage to them, and the Royal Government will contribute 20 percent, therefore each worker will receive US$120 per month (US$190 minimum wage), plus 1 or 2 week short-term training from the Ministry of Labour and Vocational Training at the factories for 6 months, he continued.
https://www.akp.gov.kh/post/detail/26565