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Cambodia to host LDC roundtable

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Cambodia is set to host a meeting in Siem Reap to help coordinate the trade interests of 48 least-developed countries (LDCs), said the Minister of Commerce Pan Sorasak on Thursday.
 
“The members of the World Trade Organization (WTO) were confident in us and chose Cambodia, at the recently concluded WTO annual meeting, to coordinate the LDCs,” said Mr. Sorasak at a national workshop on LDCs.
 
Cambodia has been selected to chair the Global Coordination Bureau of the Least Developed Countries. The bureau operates under the WTO.
 
“Cambodia has an obligation to coordinate the world’s 48 LDCs to promote their interests in the global economy,” added Mr. Sorasak.
 
According to Mr. Sorasak, Cambodia will prepare to host a roundtable for LDCs in Siem Reap in March.
 
“This roundtable will discuss and search for solutions on a number of issues affecting LDCs. It will also gauge the feelings of LDCs that want to become members of the WTO,” he said.
 
“This gathering will also be an opportunity for LDCs to learn from one another, and also from Cambodia.”
 
As a LDC, Cambodia became a WTO member on October 13, 2004, he said.
 
“With its positive outcome of socio-economic development, Cambodia has become a role model for other LDCs,” added Mr. Sorasak.
 
As the chair, Cambodia will coordinate with other LDCs to promote trade negotiations at the 11th WTO ministerial conference in December in Buenos Aires.
 
Last July, the World Bank revised Cambodia’s gross national income (GNI) per capita from a low-income country to a lower-middle income status nation, within the context of an LDC.
 
This is based on Cambodia’s GNI per capita reaching $1,020 in 2014. It is expected that the country’s GNI will surpass the World Bank’s threshold of $1,025 for a low-income country this year.
 
More than 1,500 top business leaders and CEOs, and over 40 heads of state attended the January 17 to January 20 WEF meeting, in the Swiss resort of Davos, to network and discuss big economic themes.
 
Prime Minister Hun Sen led the Cambodian delegation that included Commerce Minister Mr. Sorasak, Minister of Economy and Finance Aun Pornmoniroth, Minister of Public Works Sun Chantol, and high-ranking officials from the three ministries.

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