Hun Sen’s crackdown: loss of EU trade benefits could cost Cambodia US$700 million annually

Cambodia stands to lose nearly US$700 million per year if the European Union suspends its preferential trade treatment in response to the government’s crackdown on the country’s main opposition party, according to a document seen Wednesday.
In a letter to Prime Minister Hun Sen, Commerce Minister Pan Sorasak warned that if European Parliament’s suspension call were implemented, Cambodia would have to pay US$676 million a year in taxes on its Europe-bound exports and the jobs…