Ministers to Discuss Ways to Overcome Supply Side Constraints to
18 Nov 2008
Siem Reap/Vienna – Trade and Industry Ministers from the world's poorest countries are meeting in Cambodia seeking solutions to the common problems they face in integrating their economies into the global trading system. The Ministers will be joined here by donors and development agencies active in trade at the regional and global levels.
This year’s Least Developed Countries (LDC) Ministerial Conference, organized jointly by the United Nations Industrial Development Organization (UNIDO) and the World Trade Organization (WTO) is hosted by the government of Cambodia in Siem Reap on 19-20 November.
One of the main topics of discussion is ‘Aid for Trade’ (AfT), a package of incentives designed to help overcome structural and resource constraints of least developed countries in exchange for more speedy trade reforms.
“Our mission is to support our member states' efforts to become more firmly integrated in the world economy through greater and fairer trade. The LDCs especially face strong productive capacity challenges posed by globalization – challenges that must be addressed for continuous growth of trade and equitable development among nations,” said Kandeh Yumkella, Director
General of UNIDO.
The WTO is coordinating efforts to boost ‘Aid for Trade’, which will increase the capacity of developing countries enabling them to better take advantage of the benefits arising from greater trade opening. Aid for Trade is needed to help countries achieve the UN Millennium Development Goals.
UNIDO has been working closely with various countries and development agencies to highlight the need to diversify and boost industrial production in the poorest countries. This "supply-side" approach, it is argued, is essential for more open international trade that can lead to greater prosperity for the poor, especially if it targets key export sectors such as the food-processing and textile industries.
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Source: WTO
One of the main topics of discussion is ‘Aid for Trade’ (AfT), a package of incentives designed to help overcome structural and resource constraints of least developed countries in exchange for more speedy trade reforms.
“Our mission is to support our member states' efforts to become more firmly integrated in the world economy through greater and fairer trade. The LDCs especially face strong productive capacity challenges posed by globalization – challenges that must be addressed for continuous growth of trade and equitable development among nations,” said Kandeh Yumkella, Director
General of UNIDO.
The WTO is coordinating efforts to boost ‘Aid for Trade’, which will increase the capacity of developing countries enabling them to better take advantage of the benefits arising from greater trade opening. Aid for Trade is needed to help countries achieve the UN Millennium Development Goals.
UNIDO has been working closely with various countries and development agencies to highlight the need to diversify and boost industrial production in the poorest countries. This "supply-side" approach, it is argued, is essential for more open international trade that can lead to greater prosperity for the poor, especially if it targets key export sectors such as the food-processing and textile industries.
Read More...
Source: WTO
