Logo of Phnom Penh Post newspaper Phnom Penh Post - Exports of bicycles to dip in 2014

Exports of bicycles to dip in 2014

Exports of bicycles to dip in 2014

Cambodia's bicycle exports to the European Union are expected to decline this year after changes to EU trade preferences in early January excluded Malaysian and Singaporean parts from the scheme.

Under EU preferences, a bicycle is considered a Cambodian product when at least 30 per cent of its value is constructed in the Kingdom. That 30 per cent, however, can include material imported from ASEAN member countries.

As of January 1, Singapore and Malaysia – two of Cambodia’s most important contributors of bicycle parts, are no longer considered part of the 30 per cent as the EU begins to graduate more developed countries from its trade-preference schemes.

“This new situation makes it much more difficult for our exporters to meet the EU rules of origin, and many bicycle models that previously could qualify for duty-free entry to the EU can no longer qualify,” Sok Sopheak, director-general for international trade at the Ministry of Commerce, said by email yesterday.

“As a result of this change, we expect that Cambodia’s exports to the EU in 2014 will be lower than in 2013.”

Cambodia exported more than 1.8 million bicycles in 2013, a 23 per cent increase over 2012. Last year’s export value was $357 million.

MOST VIEWED

  • Hun Sen’s China visit ‘a good opportunity’

    Prime Minister Hun Sen’s visit to Beijing on Sunday to discuss economic and trade issues presents a good opportunity for the Kingdom to strengthen Chinese ties and counter punitive measures by the West, an analyst says. The prime minister’s four-day official visit to

  • Close to the edge: Hair raising pictures from Kulen Mountain

    A new hair raising attraction on Kulen Mountain has finally opened to the public, with people flocking to the protruding cliff edge overlooking green mountainous forests to take photographs. The giant overhanging rock is situated in an area known as Mahendraparvata – an ancient city of

  • ‘Action needed to stop road deaths doubling by next year’

    Minister of Interior Sar Kheng has expressed concern over the rate of traffic accidents, saying the death toll will double by 2020 if no effective preventive measures were put in place. At least five people on average are killed on Cambodian roads every day. The interior

  • Cambodian rice to lose EU duty-free status

    The Cambodian rice sector is set to lose its duty-free export status to the EU today – its major rice market – after the European bloc decided to impose tariffs on rice from Cambodia and Myanmar to curb a surge in such imports. The decision will be