Phnom penh: Cambodia convened a workshop on August 5 to validate a research study by the Asian Development Bank (ADB) and the United Nations Conference on Trade and Development (UNCTAD) titled "Designing a New Trade Policy for Cambodia During and After LDC Graduation: A Path of Challenges and Opportunities."
According to Agence Kampuchea Presse, the event's opening ceremony was led by H.E. Mrs. CHAM Nimul, Minister of Commerce. The workshop was attended by Mr. Milan Thomas, Senior Economist of the ADB in Cambodia; Mr. Paul Akiwumi, Director for Africa and LDCs at UNCTAD; along with representatives from relevant ministries, government agencies, donors, development partners, and the private sector.
During her address, H.E. Minister Nimul noted that the research study will aid in preparing the Cambodia Trade Policy Framework aimed at 2030. The framework is intended to support the country's trade agenda and facilitate a smooth transition from least developed country (LDC) status. She highlighted that the Ministry of Commerce is actively developing trade policies to address the gradual loss of trade preferences, legal flexibilities, and financing programs, which have significantly contributed to Cambodia's trade and economic growth.
H.E. Mrs. CHAM Nimul further stressed that graduating from LDC status demands legal and institutional reforms, enhancement of productive capacities, export diversification facilitation, and ongoing integration into regional and global markets.