Logo of Phnom Penh Post newspaper Phnom Penh Post - WTO review of Kingdom trade policy expected

WTO review of Kingdom trade policy expected

WTO review of Kingdom trade policy expected

The World Trade Organisation today will conclude its first-ever review of Cambodia’s trade policies and practices and issue its concluding remarks.

The trade review, which began on November 1, is the first time the Kingdom, which was the first least-developed country to fully accede to the WTO in 2004, will involve WTO state members examining the trade climate here.

The WTO Secretariat report compiled for the review notes that international trade is the “driving force behind much of Cambodia’s recent economic growth”.

“[Cambodia’s] economic and social achievements between 1998 and 2007 were particularly impressive: real GDP growth averaged close to 10 per cent, the highest of any low-income country in Asia.”

“Cambodia remains heavily dependent on exports of garments to the United States and the European Union, its main export markets,” the report said, as the garment industry accounts for two-thirds of the manufacturing sector and 80 per cent of Cambodia’s export revenue.

The garment sector in Cambodia has been plagued by a series of labour and health issues including union worker discrimination and mass faintings over the past year. Trade partners have yet to take any affirmative action on the human-rights abuse allegations from rights groups in the Kingdom.

“Historically, improving labour standards and working conditions have generally helped garments exporters to maintain export contracts and stave off the competitive threat from other low-cost manufacturers in the region,” the WTO report said.

“However, the outlook for Cambodian garment exports is clouded by structural changes in the market and to lagging competitiveness.”

MOST VIEWED

  • Diplomatic passports issued to foreigners to be annulled

    The Ministry of Foreign Affairs and International Cooperation will move to annul diplomatic passports issued to those not born in Cambodia. Analysts say the move may be in relation to reports that former Thai prime minister Yingluck Shinawatra used a Cambodian passport to register as

  • Hun Sen warns Irish MP of EBA ‘mistake’

    Prime Minister Hun Sen on Saturday told former Irish premier Enda Kenny, still a member of the EU nation’s parliament, that the 28-nation bloc should not make a “third mistake” regarding Cambodia by using the preferential Everything But Arms (EBA) agreement to “take 16 million

  • The hairy little heroes saving many lives in rural Cambodia

    IN RURAL Siem Reap province, rats dare to tread where no person will, as these hairy little heroes place their lives on the line each day for the good of the local community. The rodents are the most important members of a special team, leading

  • PM warns EU and opposition on 34th anniversary of his rule

    HUN Sen reached the milestone of 34 years as Cambodian prime minister on Monday and used the groundbreaking ceremony for a new ring road around Phnom Penh to tell the international community that putting sanctions on the Kingdom meant killing the opposition. “Please don’t forget