Cambodia should pursue new free trade agreements (FTAs) and act promptly to accelerate trade reforms to deal with challenges that may arise when it graduates from the least developed country (LDC) status in 2027, a blog on the Asian Development Bank (ADB) site suggested.
Cambodia met the graduation criteria for the first time in 2021. Graduation means the loss of trade benefits enjoyed by LDCs, including duty-free status and favorable ‘rules of origin’.
Cambodia is one of the few LDCs that has dramatically increased its exports to the European Union (EU) through preferential treatment and lenient rules of origin, allowing its products to enter Europe duty-free.
