Bangladesh, Nepal and Laos will leave the list of Least Developed Countries (LDC) in 2026 if the current trend of economy, national production and public life continues. Then these countries will enter the group of developing countries.
The World Trade Organization (WTO) conference concluded last Friday. This decision was taken after checking various data including the economy, GDP, public life, per capita income of the least developed countries in the conference held in Abu Dhabi, the capital of the United Arab Emirates. Nepal’s national daily The Kathmandu Post reported this information on Monday.
There are 45 least developed countries in the current list of WTO. Among these countries, Bangladesh, Nepal and Laos will be the first to leave this list and reach the ranks of developing countries. In the following years, 15 more countries are expected to enter the list of least developed and developing countries one by one. Of these 15 countries, 10 are full members of the WTO.
According to the decision of the Abu Dhabi Conference, the least developed countries, which will be promoted to the list of developing countries, will get tariff exemption and quota benefits in the sale of their goods and services in the international market for a certain period. This facility will be effective in agriculture, industry, intellectual property and other fields.
In December last year, the WTO conference was held in Doha, the capital of Qatar. On that occasion, Bhutan, the neighboring state of Bangladesh and Nepal, has been able to move out of the list of least developed countries and move to the ranks of developing countries.
LDCs mean those who
Generally speaking – the countries which are low in all the indicators related to economy, socio-economic development, infrastructure and population are the least developed countries. However, according to the UN criteria, countries whose per capita income is below 1,180 dollars are called least developed (LDC) countries.
People in LDCs suffer from nutritional and healthcare deficiencies, have low school enrollment rates, and consequently have low literacy rates. In addition, most of the underdeveloped countries have fragile economies and are facing various environmental challenges.
Challenges of least developed countries
According to a statement issued by the United Nations Qatar Conference on March 5, the combined total population of these least developed countries is about 110 billion, that is, 14 percent of the world’s population lives in these 45 countries. But 75 percent of the total population of these countries lives in poverty or extreme poverty.
The economic and socio-economic conditions of these countries are always in turmoil due to the impact of global economic shocks, natural and man-made disasters, the spread of infectious diseases and the effects of climate change.
According to global climatologists, by the end of this century, the world temperature is expected to increase by 2.7 degrees Celsius. If their fears come true, then the world’s least developed bloc will be in an endless disaster.
