Speaking at a workshop on least-developed countries (LDCs) and the multilateral trading system on 3 November at the WTO, Deputy Director-General Xiangchen Zhang said: “We need to keep building on the progress made to support the greater integration of LDCs into global trade.”
The event provided an opportunity for WTO members and trade experts to discuss the findings of a new study outlining the participation of LDCs in agriculture and services trade.
The Coordinator of the WTO's LDC Group, Ambassador Kadra Ahmed Hassan of Djibouti, said: “One-third of people living in LDCs are undernourished and LDCs remain on the side-lines of international services trade. We need to keep exploring what more can be done to support LDCs in overcoming their vulnerabilities and boosting their exports.”
Participants examined the findings of a new study by the WTO and the Enhanced Intergrated Framework (EIF), which outlines LDCs' priorities in agriculture and services trade.
Entitled "LDC and the multilateral trading system"”, the publication stresses that certain governmental trade and non-trade measures could undermine the prospects of LDCs' exports.
Recognizing the role of trade in contributing to food security in LDCs, speakers noted the importance of keeping agricultural and food exports flowing to facilitate LDCs' imports.
The discussion brought to the fore that trade support remains essential in strengthening the capacity of LDC service supplying firms.
Among the priorities requiring LDC policy makers' particular attention were the need to i) address data gaps, ii) strengthen domestic regulatory frameworks, iii) diversify LDC services export baskets, and iv) boost firms' competitiveness through trade finance and skills upgrading.
Speakers also cited regional integration as important for boosting LDCs' services exports.
