Shawdesh desk:

Prime minister Sheikh Hasina on Tuesday asked the international community to seriously consider the proposals for extension of LDC-specific support measures like preferential market access and the TRIPS waiver for a certain period after graduation.

‘Graduating LDCs need extension of LDC-specific support measures, such as preferential market access and the TRIPS waiver for a certain period after graduation,’ she said.

The PM said, ‘The LDC Group in WTO has already placed its proposals on these issues. Those proposals should be seriously considered by the international community, especially given the challenges posed by the Covid-19 pandemic and the war in Ukraine.’

The PM was addressing as a co-chair in a high-level thematic roundtable entitled Enhancing the participation of Least Developed Countries in International Trade and Regional Integration’ held during the Fifth United Nations Conference on the Least Developed Countries at Qatar National Convention Centre in Doha.

Hasina said, ‘We need to re-double our efforts to achieve the targets that we have set for ourselves in the 2030 Agenda for Sustainable Development and in the Doha Programme of Action. This requires concerted efforts at national, regional, and global levels,’

She hoped that this roundtable session would assess the state-of-play of international support measures against the challenges that LDCs are currently facing.

‘Our approach and commitments should be pragmatic, realistic, and well-designed to enhance LDCs’ productive capacity,’ she said.

She said trade would continue to remain a key driver of development for graduating and graduated LDCs. ‘You would perhaps recall that the Istanbul Programme of Action aspired to double the LDCs’ trade share. However, their share of trade still remains as low as 1 per cent,’ she added.

‘To be competitive in the global market, LDCs must focus on enhancing their trade-related infrastructure, building productive capacity, and utilising preferential market access. For achieving these objectives, LDCs require support and investment for connectivity, human capital, trade finance and technology transfer,’ said the PM.

Focusing on Bangladesh, she said her government had placed significant emphasis on improving national and cross-border connectivity by constructing a multimodal transport system.

‘It will reduce costs, enhance efficiency, and promote regional and international trade,’ she said

‘We are also implementing various initiatives aimed at developing skills, increasing productivity, improving intellectual property regime, and enhancing our competitiveness,’ she added.

The PM said her government’s policy is to engage the private sector to participate in national development. ‘Working hand in hand, we have so far brought the country to the present stage of LDC graduation. Our near-term priority is to ensure smooth and sustainable graduation,’ she said.

President of the Republic of Burundi Evariste Ndayishimiye was another co-chair of the high-level event.

Heads of state and government, and ministers from different countries, representatives of observers, relevant entities of the United Nations system and other accredited intergovernmental organizations, among others, participated in the event.