Cambodia will officially graduate from the “least developed country” (LDC) category on December 19, 2029.

The graduation was confirmed in the UN General Assembly’s resolution A/79/L.49, adopted on December 19, 204. The resolution also applied to Senegal.

 “The two countries will graduate from the LDC category on 19 December 2029 after being granted, on an exceptional basis, an extended preparatory period of five years – the standard period is of three years – to enable them to effectively prepare for graduation and ensure a smooth transition out of the category,” said a UN press release.

The Kingdom received LDC status in 1991, enabling it to enjoy selected trade preferences, including the Everything But Arms (EBA) of the EU and other generalised systems of preferences.

The resolution “Invites Cambodia and Senegal to prepare, during the five-year period between the adoption of the present resolution and their graduation from the least developed country category, their national smooth transition strategy, with the support of the United Nations system and in cooperation with their bilateral, regional and multilateral development and trading partners”.

Recently, Prime Minister Hun Manet announced that the Kingdom is ready to face the any challenges that may present themselves in the aftermath of the graduation, noting that it would also provide an opportunity for Cambodia to grow stronger.