http://www.unctad.org/en/docs/ldc2010_en.pdf
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Developed Countries Report 2010 (PDF)
Source: United Nations Conference on Trade and Development (UNCTAD)
The basic message of this Report is that for achieving accelerated
development and poverty reduction in LDCs, there is need not only for
improved international support mechanisms (ISMs) which are specifically
targeted at the LDCs but also for a new international development
architecture (NIDA) for the LDCs. The NIDA for LDCs is defined as a new
set of formal and informal institutions, rules and norms, including
incentives, standards and processes, which would shape international
economic relations in a way that is conducive to sustained and inclusive
development in LDCs. This includes reforms of the global economic
regimes which directly affect development and poverty reduction in LDCs,
as well as the design of a new generation of special international
support mechanisms for the LDCs that would address their specific
structural constraints and vulnerabilities. In addition, given the
increasing importance of South-South flows of trade, FDI, official
finance and knowledge, South-South development cooperation, both within
regions and between LDCs and large, fast-growing developing countries,
should play an important role in the proposed NIDA for LDCs. Such
cooperation should also include some ISMs for LDCs.
The Report proposes five major pillars for the NIDA: finance, trade,
commodities, technology, and climate change adaptation and mitigation.
At present, the focus of support for LDCs is mainly in the area of
trade. The Report argues that there is need for more and new forms of
financial assistance to support domestic resource mobilization and the
emergence of a profit-investment nexus in the LDCs involving the
domestic private sector. Technology and commodities, which at present
are neglected issues, should be among the core pillars of the new
architecture for LDCs. Climate change adaptation and mitigation should
also be made a new priority. Development partners need to enhance
coherence between the different domains of the international
architecture, particularly between trade and finance, and they also need
to honour their commitments to ensure that the interests of the LDCs
themselves are taken into account in these areas.
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