Two decades after its inclusion on the list of the least developed countries, Cambodia has met the graduation criteria for the first time in 2021, with plans to graduate as early as 2027, said an Asian Development Bank (ADB) report on Friday.
“This is a major achievement, as graduation from the least developed country status means that a country has achieved significant economic and social development goals,” the report said.
However, the least developed country graduation also presents challenges, it said, adding that graduation means the loss of preferential trade benefits, including duty-free status and favourable “rules of origin”, reports Xinhua news agency