PHNOM PENH: Prime Minister Hun Sen surmised that the European Union’s Everything But Arms (EBA) tax exemptions could be totally gone by 2027, as Cambodia graduates from its status as a “least developed country.”

During a meeting with more than 16,000 workers in Kampong Speu province on the morning of June 4, the PM noted that after the EBA withdrew preferential tax exemptions to about 20% of Cambodian exports due to human rights concerns in 2020, Cambodia’s export numbers have remained high, proving the resiliency of Cambodia’s export market.

"We export the same whether we pay tax on it or not. It only means less profit,” he said.

Cambodia plans to end its status as a “least developed country” by 2028, achieve “high middle-income” status by 2030 and “high-income” by 2050 by expanding overseas markets, including free trade agreements that have already been signed.