(CNN) The potential fallout from Brexit won't stop with the UK and the European Union, a new study has found. The UK's departure from the EU may also pose a serious threat to developing countries that depend on trade with Britain, a new report has found.

Among the world's least developed countries, the heaviest blow will land on Cambodia, according to simulations conducted by the German Development Institute (DIE).

The UK's exit from the EU and its associated treaties and trade agreements could also sink a further 1.7 million people worldwide into extreme poverty, the authors of the report said.

Garment workers sew clothes in a factory outside of Phnom Penh, Cambodia, on August 30, 2017.

"Regardless of the final outcome of the negotiations, Brexit implies fundamental changes in the British trade regime concerning third countries," the study authors wrote. "The UK must act to mitigate the adverse effects on economically vulnerable countries."

As an EU member, the UK takes part in the Everything but Arms (EBA) treaty as well as the European Generalized Scheme of Preferences (GSP), both of which remove or decrease duties on exports to the EU for developing countries. The EBA benefits 49 of the world's least-developed countries, waiving import duties to the EU on 99% of all exported products.

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