LDCs seek more help from development partners
January 19, 2010
Finance ministers of the Asia-Pacific region’s least developed countries (LDCs) yesterday sought greater assistance from development partners for the economic advancement of such countries.
They said a lack of adequate resources still remains as a key challenge for the LDCs of the region.
They were speaking at a plenary session on ‘Ministerial-Level Exchange on progress towards Asia-Pacific implementation of the Brussels Programme of Action, development gaps and way forward for the LDCs’.
The session was held as part of the three-day Dhaka Meeting on High-level Asia-Pacific Dialogue on the Brussels Programme of Action for the Least Developed Countries at Sonargaon Hotel in the city.
Finance ministers, government representatives, researchers, government high-ups and experts from 15 Asia-Pacific LDCs and other countries attended the meeting to review the progresses of the Brussels Programme of Action.
The Brussels Programme of Action for the LDCs for 2001-2010, which was endorsed by the General Assembly in its resolution 55/279, represents a time-bound comprehensive poverty reduction strategy with 30 internationally agreed development goals.
AMA Muhith, Bangladesh’s finance minister, chaired the session, moderated by Dr Noeleen Heyzer, under-secretary general of the United Nations and executive secretary of Economic and Social Commission for Asia and the Pacific (ESCAP).
As a panel discussant, Cheick Sidi Diarra, under-secretary general of the United Nations and high representative for the least developed countries, termed 2002-2007 as the golden period for the LDCs as the trade volume increased significantly during this time.
But, later the trade volume of the LDCs started to decline for different reasons including the latest global financial crisis, Diarra said.
“The LDCs should prioritise the productivity in manufacturing and agricultural sectors to reduce poverty,” he said.
Nepalese Finance Minister and representative of the Chair of the LDC Group Surendra Pandey said remittance inflow in his country declined slightly due to the global recession.
Load shedding is impacting badly on the industrial productivity in Nepal, which is now facing the threat of food crisis, Pandey said.
“Now, we are also busy to address the security and energy issues in Nepal,” he added.
In a question-answer session, Dr Atiur Rahman, governor of the central bank of Bangladesh, called upon the LDC leaders to include the reforms of financial architectures and monetary policy in the agenda of the Brussels Programme of Action for greater participation of the stakeholders.
“We can continue the participation in such programme to focus on financial sectors’ reforms and monetary policy. We should support more for agricultural sectors for the development of the LDCs,” Atiur said.
Thuyain Zaw, deputy minister of national planning and economic development ministry of Myanmar, advocated for widening trade scope among the member countries of the LDCs in the region.
Natan Teewe, minister of finance and economic development of island nation Kiribati, said his country is badly affected by climate change.
Steve Abana, minister of Development Planning and Aid Coordination of Solomon Islands, among others, was present at the session.
Source: thedailystar.net
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