By: Robin Spiess, Thomas Brent - Posted on: February 1, 2019 | Cambodia
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A recent report has outlined the potentially damaging effects that the UK’s withdrawal from the European Union could have on Cambodia and other countries in Southeast Asia

An anti-EU campaigner outside parliament in London Photo: Will Oliver / EPA-EFE
The United Kingdom’s decision to leave the European Union (EU) could push more than 1.7 million people in the world’s least developed countries into poverty, a report by the German Development Institute (DIE) has found.
Several Southeast Asian nations are among the countries that will bear the brunt of this decision, with Cambodia – which relies heavily on preferential trade agreements to gain access to the UK market – expected to be hit hardest by the impending exit.
The report outlines two potential Brexit scenarios: one “soft” and the other “hard”. In the case of the former, the UK would sign an ambitious trade agreement with the EU that would greatly mitigate the negative economic effects of the Brexit decision. In the latter instance, a “hard” Brexit could see the country revert to World Trade Organisation (WTO) rules of trade, which are restrictive enough to cause significant damage to the local economy and to economies dependent on the UK market.




















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