PHNOM PENH: The Minister of Commerce has said that Cambodia could leave the group of least developed countries (LDCs) by the end of 2027 if things go smoothly.
Minister of Commerce, Pan Sorasak, made these remarks while leading a Cambodian delegation to the 5th United Nations Conference on Least Developed Countries (LDCs) and the Least Developed Countries Summit in Doha, Qatar from 4-9 March 2023
He said Cambodia had met the criteria to be ready to leave the LDCs category for the first time and would be undergo a re-assessment in early 2024. If all goes well, Cambodia can leave the LDCs category by the end of 2027. This departure is in line with the Royal Government's ambition to raise Cambodia to middle-income country status by 2030, and high-income country status by 2050.
The Minister of Commerce also spoke of the approval and implementation of the Doha Action Plan (DPoA), which will be important in smoothing the LDC departure process and accelerating the achievement of the SDGs, complementary to the next phase of Cambodia's development plan framework, namely the National Strategic Development Plan 2024-2028.
Minister Pan Sorasak, however, also stated that leaving the LDCs category will bring with it challenges associated with the loss of certain benefits and privileges that Cambodia is currently enjoying.