Cambodia about to graduate from least developed country status: ADB

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Cambodia about to graduate from least developed country status: ADB

STORY: Cambodia about to graduate from least developed country status: ADB DATELINE: June 2, 2023 LENGTH: 0:02:20 LOCATION: Phnom Penh CATEGORY: ECONOMY SHOTLIST: 1 SOUNDBITE (English): PENN SOVICHEAT, Cambodian Ministry of Commerce's undersecretary of state and spokesman 2 various of the ADB 3 various of views in Cambodia STORYLINE: Two decades after its inclusion on the list of the least developed countries, Cambodia met the graduation criteria for the first time in 2021, with plans to graduate as early as 2027, said an Asian Development Bank (ADB) report on Friday. However, the least developed country graduation also presents challenges, it said, adding that graduation means the loss of preferential trade benefits, including duty-free status and favorable "rules of origin." The report said Cambodia is one of the few least developed countries that has dramatically increased its exports to the European Union through preferential treatment and lenient rules of origin, allowing its products to enter

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