19 March 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% of its value is constructed in the Kingdom.
That 30% 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% as the
EU begins to graduate more developed countries from its trade-preference schemes.
As a result of this change, 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%
increase over 2012. Last year’s export value was $357 million.
Source:
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