The Sub-Committee on Least Developed Countries (LDCs) convened on December 13, where World Trade Organization (WTO) members celebrated Bhutan's commitment to reinvigorate negotiations for WTO accession and extended their heartfelt congratulations on Bhutan's graduation from Least Developed Country (LDC) status. During the meeting, the United Nations Committee for Development Policy provided an update on the LDC graduation process and support measures available to transitioning LDCs.
Deputy Director-General Xiangchen Zhang commended WTO members for their support of LDCs on their journey toward graduation. He highlighted the General Council decision made in October 2023, which encourages WTO members to provide a transition period for withdrawing support measures, such as duty-free and quota-free programs, following LDC graduation.
In a video message, DDG Zhang stated, "The successful experience of recently acceded LDCs can serve as an inspiration for Bhutan's leaders and trade negotiators as they resume their accession process.
Bhutan's WTO Ambassador, Tenzin Rondel Wangchuk, expressed pride in Bhutan's economic transformation, which involved diversifying the economy, investing in infrastructure, education, and healthcare, and improving living standards and human development indicators.
Ambassador José R. Sánchez-Fung of the Dominican Republic, Chair of the Committee on Trade and Development, emphasized the positive support and goodwill from members toward Bhutan's economic prosperity. He eagerly anticipates Bhutan's full membership in the WTO in the near future.
Heidi Schroderus-Fox, Finland's WTO Ambassador and Chair of the Enhanced Integrated Framework's Steering Committee, remarked on the significant impact of Bhutan's economic development efforts and congratulated the country on its milestone achievement.
India's WTO Ambassador, Brajendra Navnit, extended congratulations to Bhutan and highlighted the longstanding partnership between India and Bhutan in socio-economic development, trade, investment, connectivity, technology, and education.
Bhutan becomes the seventh country to graduate from LDC status, following Vanuatu in 2020, Equatorial Guinea in 2017, Samoa in 2014, Maldives in 2011, Cabo Verde in 2007, and Botswana in 1994. LDC graduation decisions are made by the United Nations, based on recommendations from the UN Committee for Development Policy, considering specific socio-economic thresholds.
With Bhutan's graduation, 45 countries remain on the LDC list, with 15 on the path to graduation. Among them, ten are WTO members, including Angola, Bangladesh, Cambodia, Djibouti, Lao PDR, Myanmar, Nepal, Senegal, Solomon Islands, and Zambia. Comoros, Sao Tome and Principe, and Timor-Leste are in the process of joining the WTO, while Kiribati and Tuvalu are not WTO members.
