Bilateral trade with China stood at $7 billion in 2018, with Cambodia facing a trade deficit on account of $6.1 billion in imports from China, according to Commerce Ministry figures. In contrast, trade with the EU was pegged at $6.7 billion last year
The report states that foreign firms were providing significantly more wage jobs, despite locally-owned firms far outnumbering foreign companies. The report showed that 80 percent of Cambodian adults above the age of 15 were working in contrast to 62.5 percent of adults in the East Asia Pacific
The European Union has threatened the preferential trade terms which Cambodia gets through its Everything But Arms (EBA) scheme that gives 47 of the world’s poorest countries duty-free, quota-free access for all products except arms and ammunition.
The Garment Workers Association estimates that three million people would be impacted if Cambodia’s status changes, from the vendors outside factories who sell meals, to those in the microfinance sector who have loaned garment workers money because of their seemingly stable income