'LDCs most vulnerable and weakest segment of int'l community'

Ambassador and Permanent Representative of Nepal to the United Nations Gyan Chandra speaking on behalf of the least developed countries (LDCs) on Wednesday at the general debate of the ECOSOC Substantive Session, highlighted the LDCs' position as the most vulnerable and weakest segment of international community as they grapple with enormous economic, human and social development challenges due to structural constraints.

Saying that the LDCs are most off-track in meeting the Millennium Development Goals (MDGs) by 2015, Acharya highlighted that LDCs’ limited productive capacity has undermined their economic diversification and international competitiveness, exacerbating further their supply-side constraints and limited productive employment opportunities.

He further underlined that building productive capacity in agriculture, manufacturing and services is essential for the LDCs to sustain inclusive and equitable growth; eradicate poverty; and generate productive employment and decent work.

"LDCs need to reduce infrastructure deficits; enhance access to affordable, reliable and renewable energy and related-technologies; bridge digital divide and technology gap; make higher investment agriculture and rural development; develop human resources through quality basic education and vocation and technical training; and provide comprehensive support to improve the performance of the small and medium-scale enterprises."

Referring to the ILO estimate of a half a billion working poor, 1.5 billion employed in vulnerable sector and more than 200 million unemployed globally and many of them in the LDCs, he laid emphasis on the need for coordinated and inclusive international policies and mechanisms to boost the real economy, jobs and incomes, particularly in vulnerable countries such as the LDCs.

While expressing serious concern over reduction in real ODA flows to the LDCs last year, Acharya also underlined the fulfillment of the ODA commitments to LDCs in line with LDCs’ needs and priorities. In the context of the LDCs’ productive capacity, he further stressed the need for ensuring debt sustainability, supportive FDI, an “early harvest” in the context of stalled progress in Doha Development Agenda and robust trade-related technical assistance and capacity building through Aid for Trade Initiatives and the Enhanced Integrated Framework to enhance their productive capacity. Nepalnews.com