Preparatory Committee UNCTAD XIIto begin meetings on 15 October
The Trade and Development Board completed its 54th session this afternoon, having focused for much of two weeks on the challenge of ensuring that current strong global economic growth extends its benefits to all countries and the world´s many poor, the topic of UNCTAD´s upcoming quadrennial conference.
UNCTAD Secretary-General Supachai Panitchpakdi said in closing remarks that the board had made "good progress on the road to UNCTAD XII," which will be held from 20-25 April in Accra, Ghana.
He also cited timeliness of the Board´s debate on globalization and inclusiveness.
The Board --UNCTAD´s governing body -- set the stage for UNCTAD XII. A preparatory committee composed of UNCTAD´s 151 member States will begin meetings Oct. 15 to arrange the details. Negotiations on a draft text for the outcome will begin in November, with a first reading by member countries scheduled for 26-30 November. Joe Baidoe-Ansah, Minister of Trade, Industry and Private Sector Development & President´s Special Initiatives of Ghana reported to the Board on 1 Oct. that preparations for the conference were well advanced, and showed a video on the country´s culture, capital city, and conference facilities.
The theme adopted by the Board for UNCTAD XII was "addressing the opportunities and challenges of globalization for development" -- and the subject of making the world economy work for everyone was also addressed from numerous angles during the 54th session. The high-level debate that opened the meeting on 1 October was on "globalization and inclusive development." Discussion of agenda items on least developed countries (LDCs) and Africa reflected concern that while economic growth has improved in such nations recently, it hasn´t spread to all, and more has to be done to turn this expanded trade into significant poverty reduction. It was noted repeatedly that the current rate of progress will not be enough to meet the targets set in the Millennium Development Goals, including the halving of extreme poverty by 2015.
Member States, in their agreed conclusions on LDCs, said it was critical that LDCs improve their productive capacities through capital accumulation, technological progress, structural change, and good governance. Such steps were vital for reducing poverty and creating more jobs, they said, endorsing the findings of UNCTAD´s Least-Developed Countries Report 2007. To accomplish these goals, the Board called for national and international action to promote business formation and upgrade the core competences and technological capabilities of domestic firms in LDCs.
On Africa, member States agreed with the conclusion of the UNCTAD Economic Development in Africa report that, while the support of their development partners is important and appreciated, African countries need to take steps to mobilize their domestic financial resources to reduce their dependence on external resources in the medium to long term. The Board stressed the need to learn from the experiences of successful developing economies which have pursued economic growth, development, and poverty reduction, while keeping in mind the specific situations of African countries. They called on international institutions such as UNCTAD, the World Trade Organization, the World Bank, and the International Monetary Fund to play a strong role in helping African countries boost internal economic growth to complement external links to the world economy.
During its two weeks of meetings, the Board also discussed the implications for developing countries of the ongoing World Trade Organization Doha round of trade negotiations. It debated "interdependence and global economic issues from a trade and development perspective: regional cooperation for development -- which included review of the UNCTAD Trade and Development Report 2007. It considered UNCTAD´s 2007 Report on Assistance to the Palestinian People. And, on 2 October, it held its annual hearing with civil society organizations.
