Cambodia Faces Major Economic Blow as E.U. Weighs Ending Trade Deal

Cambodia faces a serious blow to its economy as the European Union investigates the government’s deteriorating human rights record and considers revoking a special trading deal with the country, the International New York Times reported. For 17 years, Cambodia has benefited from preferential access to the European Union a major trading partner, under a program called Everything but Arms, which allows what the bloc calls “vulnerable developing countries” to pay fewer or no duties on all their exports to the bloc, except weapons and ammunition. The trading deal has contributed to a period of rapid economic growth in Cambodia. But the program stipulates that countries meet international norms of human rights and democracy. Instead, Cambodia has engaged in one of its harshest waves of repression in recent years, actions that have prompted the European Union to consider ejecting the country from the program. Read more