China to come for Cambodia’s rescue in case the European Union applies trade sanctions

Picture Courtesy –The Daily Item
by Textile Quotient News Desk
30 Apr 2019

In February 2019, the EU announced to launch action that could suspend Cambodia’s preferential access to its market because of “severe deficiencies when it comes to human rights and labour rights. The EU grants duty-free and quota-free access for items to Cambodia and other developing countries. In reaction, Cambodia’s Foreign Affairs Ministry called the decision an “extreme injustice” that ignored steps the government has taken to improve civil and political rights.

According to Cambodia’s Prime Minister Hun Sen, if the EU implements trade sanctions against Cambodia over human rights violations and rule of law issues, then China has promised to come forward to provide assistance.

In January, Hun Sen made four-day official visit to China and announced that Beijing had agreed to provide nearly $600m in grant aid as part of a three-year assistance fund, and that the two countries also agreed to increase their bilateral trade to $10bn by 2023. During his stay in Beijing As per, Hun Sen, met several Chinese businessmen, and many Chinese investors agreed to invest in Cambodia soon.

China Combodia Industry Insight News Region

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