Maldives identifies challenges in graduating to a developing country
The Maldives faces huge economic, commercial, and environmental challenges as the country prepares to graduate from Least Developed Countries (LDC) to the developing countries list, Maldives Permanent Representative to the World Trade Organisation (WTO) Iruthisham Adam has said.
Speaking at the WTO General Council on Tuesday, Iruthisham stressed that the Maldives remains acutely vulnerable at economic, commercial and environmental levels when the country prepares to graduate to a developing country on January 1, 2011. The Maldives like many other small island developing states is very vulnerable to external economic and environmental shocks such as oil and financial crises, she added.
The Maldives Permanent Representative noted that the Maldives is the first WTO member to undergo graduation and the associated loss of LDC trade benefits. She appealed all WTO member states to continue the special treatments and support for the Maldives.
A statement issued by Foreign Ministry said the delegations at the Council congratulated the Maldives for its development progress and pledged to work with the country to ensure a smooth a transition middle-income status.
Source: Haveeru Online