26 years after, Myanmar mulls to be a LDC graduateMay 3, 2013
Nay Pyi Taw – Twenty-six years after it was listed as a Least Developed Country (LDC) Myanmar began initiations to become a graduate from the UN’s LDC status. As a first step a seminar on “Myanmar’s LDC Graduation Process” was organized on 2 May in Nay Pyi Taw.
When Myanmar should be out of the list of LDC was a major topic of discussion at the seminar.
The one-day seminar also proposed to raise awareness of government officials and the public on implications of making Myanmar a LDC graduate. Dr. Wah Wah Maung, Deputy Director General at Foreign Economic Relations Department of the Ministry of National Planning and Economic Development, said the LDC graduation process is very crucial and Myanmar definitely has “to overcome this process”.
LDC graduation-related issues including graduation criteria, timeframe, Myanmar's status, requirements to be a graduate, available options to choose, benefits and privileges of a LDC, and transitioning process were also explored at the seminar organized by the ministry with the support of UNDP.
President H.E. U Thein Sein in one of his recent radio addresses to the nation stressed that Myanmar intended to take steps towards re-entering into the international financial markets as well as the economic community and that this progress would be a first step to take Myanmar out of the UN’s LDC list.
Toily Kurbanov, UNDP Country Director in Myanmar, said “one important aspect of the UNDP’s new country programme for 2013-2015 is partnership with the Government in its efforts to take the country towards graduation from the LDC status”.
The LDC category was established in 1971 and Myanmar was included in the list in 1987. A country is classified as a LDC with three criteria – Gross National Income per capita, Human Assets Index and Economic Vulnerability Index. A country graduates from the LDC status if it meets two criteria after two consecutive triennial reviews or if its Gross National Income per capita is two times higher than graduation threshold.