Duration: 1 hour
On the 19th of December, Cambodia officially received approval from the United Nations to graduate from the Least Developed Country (LDC) status within five years, by December 2029.
Recognising the significant impact of this transition on the country’s trade policy – particularly with the potential loss of access to certain Generalised System of Preferences (GSP) agreements – the Ministry of Commerce (MoC) is actively preparing for this change.
To support these efforts, the MoC has engaged with the Asian Development Bank (ADB) and the United Nations Conference on Trade and Development (UNCTAD) through a series of discussions in which EuroCham was involved.
- On December 18th, at the Ministry of Commerce Mr. Joachim Dautais, EuroCham Advocacy Coordinator, represented the Chamber to highlight the operational challenges faced by businesses on the ground, particularly with regards to logistics. He emphasised the critical need for a robust skills development framework to ensure that all sectors of the economy are equipped to support this transition.
- On December 19th, a delegation of international experts, including Ms. Pramila Crivelli, Mr. Stefano Inama, and Ms. Teng Channimol, visited the EuroCham office to engage with the EuroCham Team. The purpose of this meeting was to gain a deeper understanding of the Chamber’s role in representing private sector trade interests and to gather insights into the private sector’s perspectives on this significant shift in trade policy.
During these interactions, EuroCham provided a clearer picture of Cambodia’s current framework and identified key areas for improvement, particularly in the logistics sector. EuroCham emphasised the importance of enhancing Cambodia’s logistics capabilities to ensure the country can compete effectively in a more challenging international trading environment and continue to drive economic growth.