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Dhaka seeks LDCs' due share in world trade

Altaf addresses ministerial meeting in Sao Paulo

UNB, Dhaka
Dhaka called upon the least developed countries (LDCs) to send a strong message to the international community for ensuring their fair share of international trade through the implementation of Brussels Programme of Action.
Commerce Minister Altaf Hossain Choudhury made the call on Sunday while addressing the LDC Ministerial Meeting in Sao Paulo, Brazil, the prelude to the 11th Unctad meeting there.
"We must send a strong message to the international community that we want to improve our lot, and that we need a favourable enabling international environment," he said.
According to a message received here yesterday the meet-
ing adopted a declaration on the LDC demands for consideration by the meet of the UN agency on trade and development.
Director General of World Trade Organisation (WTO) Dr Supachai Panitchpakdi, Secretary General of Unctad Rubens Ricupero and high-profile representatives of the LDCs attended the meeting.
The minister observed that, after four years of the adoption of the Brussels Programme of Action, the LDCs were far from achieving the targets set primarily in the programme aimed at arresting the continued marginalisation of the poorer countries.
He mentioned that preferential treatment accorded by some countries could not be fully utilised and, in cases, applicable rules of origin act as barriers to the entry of
goods and non-tariff barriers make the concessions inoperable.
"Now erosion of preferences has emerged as another cause of concern," the commerce minister pointed out. "Some of our countries will face formidable challenges after the phasing out of the agreement on textiles and clothing (ATC) covering textiles and clothing."
Prioritising enhanced and effective market access for the LDCs' goods and services to increase the share in world trade to get out of poverty, he stressed concerted effort so that the interests of LDCs are taken on board in the package to be adopted within WTO.
He however stressed that the domestic capacity and appropriate infrastructure to produce goods
are a must and said integrated framework (IF) is supposed to develop capacity to trade more.
Laying emphasis on promotion of foreign direct investment (FDI) in LDCs, the commerce minister said that full implementation of commitments with regard to overseas development assistance (ODA), effective home country policy to promote foreign direct investment (FDI) in LDCs and effective debt- relief measures are vital for their poverty-alleviation efforts.
He noted that despite liberalisation of investment regimes, FDI remained negligible and concentrated on few countries and few sectors. "Besides, the external debt overhang continues to drain resources away from productive investment," the minister said.