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News from this newspaper Geneva, Switzerland On July 3rd local time, Prime Minister Hun Sen A speech delivered at the opening ceremony of the World Trade Organization "Global Review Conference on Aid for Trade 2019" pointed out that revoking preferential trade treatment for underdeveloped countries will not help implement sustainable development of the world and will plunge developing countries into poverty. It goes against the purposes of , the United Nations, and the World Trade Organization.
Prime Minister Hun Sen delivered a speech with the theme of "Supporting Economic Diversification, Inclusiveness, and Sustainable Development through Trade Aid", calling on the international community to continue to assist underdeveloped countries. He said that Cambodia’s goal is to promote the country to an upper-middle-income country in 2030 and become a high-income country in 2050.
Hun Sen emphasized that in order to achieve national goals and enable underdeveloped countries to escape poverty as soon as possible, the Cambodian head of government requires all member states of the World Trade Organization and cooperative development partners to consider continuing to support and assist Cambodia.
He said that Cambodia requires developed countries to help improve the competitiveness of underdeveloped countries and continue to provide multilateral and unilateral trade preferential policies to Cambodia and other underdeveloped countries.
Hun Sen emphasized that before withdrawing preferential trade treatment for low-developed countries, careful thinking should be made. Revoking preferential treatment for underdeveloped countries will not help implement sustainable development in the world and will prevent underdeveloped countries from getting out of poverty. This move violates the purposes of the United Nations and the World Trade Organization.
Hun Sen also shared Cambodia’s experience in overcoming challenges and bringing significant economic growth to Cambodia. He said that Cambodia has made remarkable achievements in economic diversification and poverty eradication in the past few decades. By 2018, Cambodia's poverty rate had dropped to below 10%.
It is worth mentioning that in mid-June, the EU once again asked Cambodia to improve the current situation in order to retain the "all arms removal" tax-free status (EBA). Cambodian officials responded, "If you want to stay, stay, and if you want to withdraw, withdraw."
During the 11 years from 2007 to 2017, Cambodia exported a total of US$26.1 billion in goods to the EU through EBA treatment. (Original title: Hun Sen criticized the withdrawal of preferential trade treatment for underdeveloped countries as against the purpose of WTO )
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Source: Khmer Daily
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