Cambodia about to graduate from least developed country status: ADB

It added that the Southeast Asian nation should consider forging new trade agreements with its major partners while improving the implementation and utilization of existing ones.

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

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