Statement, 10 May 2011
Statement at the high-level panel on Trade, at the LDC-IV conference, Istanbul
Trade has been at the centre of discussion of LDCs improving their economy and social conditions. It was said that LDCs are not integrated into the world economy; that is why they are marginalized. This is not true. Many LDCs have higher exports to GNP ratio than some developed countries. It is the way in which the LDCs are integrated in trade that has been a disadvantage. LDCs are too dependent on raw materials export, and prices of commodities have had a long-term trend decline, thus causing major revenue and income losses for LDCs.
This article was tagged: Commodities, Economic Partnership Agreements (EPAs), Least Developed Countries (LDCs), Subsidies, Tariffs, TRIPS, World Trade Organization (WTO)