Lamy urges more aid to raise trade capacity of poorest nations
28 Sep '07
3 min read
In 1997, the share of global exports of the (then) 49 Least Developed Countries was 0.5% with primary commodities, mainly minerals and tropical agricultural products, making up 70% of this total. Their export profiles were characterised by a very narrow range of products, usually two or three products.
Ten years later we can see some positive signals with basic social indicators showing a positive trend. On the trade front, however, despite a decade of substantial economic growth in most developing and developed countries, the Least Developed Countries have only been able to marginally benefit from the tremendous expansion of world trade, their share of world exports being today estimated at 0.6% and 0.8% of world imports.
Their limited capacity to broaden their export product base, the still limited institutional capacity and poor infrastructure continue to undermine their capacity to benefit fully.
This continued marginalisation of the Least Developed Countries in the global economy has not, however, diminished our acceptance that trade can be a positive engine for growth, poverty reduction and human development. Nor has it diminished our collective determination to face together the challenge of making a fairer world trading system for all its members, including the weakest.
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