Several countries leave LDC status

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An increasing number of countries, particularly in Asia, are set to leave the UN’s category of least developed countries (LDCs). This is a sign of positive development and poverty reduction – but it also changes the conditions for international trade.

As tariff preferences and other special benefits are phased out, competitiveness in export sectors such as textiles and agriculture may be affected. At the same time, there are opportunities to ease the transition through new trade agreements and preferential schemes.

“Graduating from LDC status is an important step forward, but it also means that countries may need to adapt their trade strategies. Here, new trade agreements and international support can play a crucial role,” says Malin Ljungkvist, Senior Trade Policy Adviser.

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LDC Graduation: Impact on EU–Asian and EU–Pacific trade