Minister for Commerce and Supplies, Lekh Raj Bhatta, on Monday underscored the need of the centrality of inclusive, equitable and  sustainable development in the process of globalization, adding that helping LDCs prosper is therefore not only a moral imperative but also political and economic ones for  the international community.

Addressing the Thirteenth  United Nations Conference on Trade and Development (UNCTAD XIII) taking place in Doha, Qatar from April 19 to 26, 2012, he said eradication of poverty and hunger in the least developed countries would contribute towards ensuring global peace, security, stability and prosperity in a sustainable manner.

The Minister also highlighted the significance of the Conference as the first major global opportunity after the successful conclusion of the Fourth United Nations Conference on the LDCs that  must set  the stage for scaling up national as well as international efforts for an effective implementation of the Istanbul  Programme of Action.

Minister Bhatta stated that the current global financial, economic and trading systems should  undergo fundamental reform in a way that is responsive to the special development needs and challenges of the LDCs and, as has been committed in the IPoA, the voice and representation of the LDCs in the governance of global economic and  financial architecture must be duly ensured.

Expressing concern over the low level of LDCs' share in global trade, Minister Bhatta called on the trade and development partners to provide 100 percent duty-free-quote-free market access  for all products from LDCs on a lasting basis and  fair, transparent predictable and facilitative rules of origins and  adequate support measures to overcome the supply side constraints to underpin the market access.

Minister Bhatta also  called for an early conclusion of Doha Round of trade negotiations with equitable and development oriented outcome.

Given the long and protracted impasse of the Doha Round, it is essential that the LDCs are allowed the early harvest package, he stressed.

The Minister also highlighted Nepal's efforts to strengthen investment and business-friendly  environment in the country as the peace process nears its logical conclusion. He called upon the development partners  and the international organizations, including the UNCTAD, for their continued goodwill and enhanced support in  institutionalizing peace, democratic gains and to improve the quality of life of the Nepalese people.

It may be noted that the UNCTAD Conference is a major quadrennial event of the United Nations devoted to the integrated treatment  of trade and development and other interrelated issues. UNCTAD XIII is focused on the theme: ‘development-centered globalization’. nepalnews.com