At a meeting of the Sub-Committee on Least Developed Countries (LDCs) on 13 December, WTO members welcomed Bhutan’s commitment to revitalizing its negotiations on joining the WTO and congratulated the country on its graduation from LDC status.
The Secretariat of the United Nations Committee for Development Policy updated WTO members on the LDC graduation process and the support measures available to graduating LDCs.
Deputy Director-General Xiangchen Zhang praised members for supporting LDCs on the path to graduation.
He highlighted the General Council decision of October 2023 encouraging WTO members to provide a transition period for the withdrawal of support measures, such as duty-free and quota-free programmes, to LDCs after graduation.
“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,” DDG Zhang said in a video message.
Bhutan's WTO Ambassador, Tenzin Rondel Wangchuk, said: “Bhutan's economy has undergone a significant transformation. Moving away from a heavy reliance on agriculture, we have actively promoted economic diversification and invested in infrastructure development, education and healthcare to improve standards of living and human development indicators.”
The chair of the Committee on Trade and Development, Ambassador José R. Sánchez-Fung of the Dominican Republic, stated: “It is very positive to be witnessing members' goodwill and support for Bhutan's continued economic prosperity. We look forward to welcoming Bhutan as a fully-fledged member of the WTO in the near future.”
