PHNOM PENH (Xinhua): Cambodia has decided to reduce import duties on electric vehicles (EVs), electric stoves and solar-powered devices in an effort to mitigate the impact of rising global fuel prices caused by the Middle East conflict.
In a statement dated Saturday and publicized on Sunday, the General Department of Customs and Excise said the government has decided to cut import duties from 35 percent to zero percent on passenger EV cars, electric stoves and toasters.
The government decided to lower import duties from 35 percent to 7 percent on passenger plug-in hybrid electric vehicles (PHEVs), the statement added.
It cut import duties from 7 percent to zero percent on the chargers of EV batteries, electric rice cookers and solar lamps, the statement said.
The government also lowered import duties from 15 percent to zero percent for the motors of EVs, PHEVs, HEVs (hybrid electric vehicles), solar power systems, lithium batteries, electric stoves and electric kettles.
The new tariff rates will take effect from April 1, 2026, the statement said.
The latest measures came after fuel prices have skyrocketed since the onset of the Middle East conflict.
A liter of regular gasoline costs 5,000 riels (about 1.25 U.S. dollars), diesel 7,200 riels, and Liquefied Petroleum Gas (LPG) 3,400 riels on Sunday, according to the Ministry of Commerce.
Since the outbreak of the Middle East conflict, the prices of regular gasoline, diesel and LPG in Cambodia rose by 30 percent, 87 percent and 70 percent, respectively, the ministry said.
The ministry announced on March 20 that the government has reduced import duties and taxes on gasoline and diesel products, aiming at mitigating the impact of rising international oil prices and relieving consumers' burden.
The Southeast Asian country entirely relies on imported petroleum and diesel, as its seabed's oil reserves have not been exploited yet. -- Xinhua
