Making globalisation work for the least developed countries

The need for fair and equitable development

The UN Ministerial Conference of the Least Developed Countries (LDCs), held in Turkey in 2007, sought to address questions of full and beneficial integration of the LDCs in the world economy. This paper reports on the discussions and conclusions of the conference.

While recognising that the process of globalisation and interdependence is potentially a powerful and dynamic force that can contribute to growth, poverty reduction and sustainable development, the ministers of the LDCs recognised and affirmed the need for fair and equitable globalisation. Conference participants
also emphasised that if properly managed, additional trade and investment, increased transfer of technology, agricultural productivity and affordable, reliable, economically viable and socially acceptable forms of energy can help LDCs build a competitive environment in a truly inclusive and globalised world.

Structural constraints, however, ranging from weak institutional and technical capacities to a limited knowledge base, make it likely that without special measures, LDCs will not be able to take full advantage of the opportunities offered by globalisation. Nor will they be in a position to minimise the hardships.

The report provides further details on the following topics:

trade and investment
issues in technology
globalisation, agriculture and the LDCs
energising the LDCs to achieve the Millenium Development Goals.

The report ends with the official communique of the conference - the Istanbul Declaration on Least Developed Countries: A Time for Action.

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Making globalisation work for the least developed countries