UNCTAD XII Ends in Ghana

Concluding Declaration calls for further progress
in enhancing the role of women in the society: Summary

The Twelfth Ministerial Meeting of the United Nations Conference on Trade and Development (UNCTAD XII) was organized in Accra, Ghana, 20-25 April 2008. The Report of the Secretary-General of UNCTAD to UNCTAD XII indicated that the optimism which prevailed in the late 90’s signaling a faster rate of liberalization to boost economic development towards reducing income disparity between the developed and developing nations seems lost post East Asian crisis.

Hence there was greater awareness that “economic integration alone was not addressing development concerns.” The important initiatives which followed include the MDGs and “Aid for Trade”. Further, the pattern of world trade now seems to be changing and the developing countries are not only suppliers of raw materials but are also exporters of manufactured goods and skilled services. It is also pointed out that the global current-account imbalances, high energy prices and external debt problems among other problems continue to pose serious risks.
 
It is in this background the member States in their Concluding Declaration promised to bring about inclusive growth tackling the challenges such as rising food and energy prices and global economic uncertainties compounded by climate changes which act as impediments to equitable development and so pledged to make trade liberalization work for the poor.
 
The Accra Declaration says “The visionaries who created UNCTAD in 1964, just as most people on this great continent of Africa were winning their independence, would have felt vindicated by today’s interconnected world and its globalized economy. Their founding tenet, that broad-based and sustainable prosperity cannot be achieved without both trade and development working in harmony in an interdependent world, has never been more pertinent.”
The member countries reiterated their commitment to UNCTAD for its important role as an institution with universal membership and mandate to serve as the focal point of the United Nations for the integrated treatment of trade and development and interrelated issues in the areas of finance, technology, investment and sustainable development. Upholding their commitment towards a free and fair multilateral trading system which promotes development for all, the member states also vowed to foster global partnership to promote “growth that will help countries attain and sustain the internationally agreed development goals, including the MDGs.”
 
Committed to redouble the efforts to combat poverty and hunger the member countries also promised to take steps to ‘bolster’ world’s food security and support the efforts to increase food production of the LDCs and net food importing developing countries. The Declaration also says that special attention will be paid to the food and nutritional needs of mothers and children. Spiraling food prices and input costs are cause of concern for many developing economies however, the text points out that it also signals an emerging global commodity economy in which these countries have the opportunity to promote growth and development which is sustainable. The Accord establishes that nearly 50 percent of world trade is covered by Regional Trade Agreements (RTAs) however, it is important that such regional agreements should not be inconsistent with the multilateral trading rules. While South–South cooperation remains a milestone in the evolution of world economy the Declaration recognizes that many African and LDCs remains on the margin of the globalization process and are way behind the targets set for achieving the MDGs. The need to prioritize the Global System of Trade Preferences (GSTP) among Developing Countries, intraregional and interregional networks is also highlighted. Aid for Trade could make an important contribution by helping the developing countries in their efforts to implement and benefit from trade liberalization.

Since mobilizing resources both private and public is crucial for development, the member states expressed their concern over the decline in Official Development Assistance (ODA) and called upon the donors to honour their ODA commitments. The Declaration emphasizes that FDIs should cater towards “investment in infrastructure and development of human resources and strengthening of human capacities” for sustained growth. The Accra Accord clearly states that “there are close links between sustainable development and poverty reduction and the empowerment of women and they are important for the achievement of the internationally agreed development goals. Gender equality and women’s empowerment should be mainstreamed in development policies and practices.”

The Declaration also lays thrust on the role of Foreign Direct Investments (FDIs) as adding to the resources for development on the condition that is used for investment in infrastructure, development of human resources and strengthening institutional capacities. Thus, all countries should develop an enabling environment for attracting FDIs leading towards a sustained growth. Efforts are necessary to reduce the technology gap to foster inclusive globalization and ensure fuller participation of all the countries in policymaking in the fields of trade and finance.
At the domestic front the government of each country should be in a position to evaluate the ‘trade-off’ between the benefits and constraints of accepting international rules and commitments. The text also highlights the role of good governance and transparency as well as participation from all the stakeholders in the process as important. The need for enhancing the role of women at all levels of society remains crucial.
 
The Accra Accord commenting on the role of UNCTAD says that it should continue to assist the developing countries, specially the LDCs and address the special needs of the land-locked developing countries, structurally weak and small economies. “Gender equality, empowerment of women, promotion of sustainable development and full and productive employment” will remain the cross-cutting issues in all its work. In his concluding address he said that, although the Ministerial Meeting was ending, UNCTAD’s efforts to make itself more dynamic and responsive over the next four years were just beginning. Urging to be responsive to national, global and multilateral development issues he said that “We need to be more on top of things. It’s good to be admired for our academic and analytical work, but we need to be more action-oriented.”

UNCTAD Secretary-General Supachai Panitchpakdi hailed the Accra Accord and its accompanying political declaration for embodying the shared commitment of the developing and developed world “to work towards making globalization a powerful means to achieve poverty eradication”.

Source: Compiled by Bansari Nag from The Accra Declaration, Draft Accra Record, Press Release: UNCTADXII/ACCRA/DPI/13, UNCTAD, 2008