Duration: 1 hour
EuroCham Provides Input on Cambodia’s LDC Graduation
On the 19th of December, Cambodia officially received approval from the UN to graduate from Least Developed Country (LDC) status by December 2029.
Recognising the impact of this transition on the country’s trade policy, particularly the potential loss of Generalised System of Preferences (GSP) agreements, the Ministry of Commerce (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, EuroCham’s Advocacy Coordinator Mr. Joachim Dautais highlighted the operational challenges faced by businesses, particularly with regards to logistics. He emphasised the critical need for a robust skills development framework to ensure that all sectors 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 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.
The EuroCham team 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.