The Ambassador and Permanent Representative of the Republic of Vanuatu to the WTO talks graduation journey, Covid-19 and climate resilience, and how leaving the LDC category means the work as only just started.
Integration into one or more value chains could enable LDCs to specialize in certain production activities or modules while gradually evolving towards more complex tasks.
Cabo Verde is often described as “off the beaten path”, whatever that means. In reality, the tiny country of 10 islands has been on many paths since the 15th century, when Portuguese sailors first stopped in the uninhabited archipelago.
Only 5 countries have graduated from LDC status since the category was established in 1971. 12 are set to potentially graduate in the coming years, largely based on economic gains. But with COVID-19 slowing economies and trade, is LDC graduation in peril?
Following rapid progress, up to 12 LDCs may leave the category in coming years. The countries involved include up to a quarter of the total LDC population.
The international system governing the environment and economy is under pressure, but it is in trade where least developed countries (LDCs) may lose most from cracks in the global order.
Economic diversification and empowerment are essential for achieving the Sustainable Development Goals; they also embody the rationale behind the Aid for Trade Initiative.