a part of the WTO LDC Group, and on Friday (26 Nov), the intergovernmental agency published an analysis by its Economic Adviser on Multilateral Trade, Colin Zhuawu, who assessed the priorities of Commonwealth LDCs at the major conference and issued a host of strategies that may be pursued for a favourable outcome.
In his analysis, the trade and development expert identified four multilateral negotiating issues, namely agriculture, fisheries subsidies, services waiver and work programme on electronic commerce. He highlighted the significance of each of these issues for Commonwealth LDCs, particularly in terms of addressing their food security needs, tackling the digital divide and regulation of the export markets.
Zhuawu also discussed the need to enhance special treatment for developing countries, pointing out that the G90 Agreement Specific Proposals remain deadlocked. Another critical area in his analysis was the impact of the pandemic, as he underlined some of the biggest challenges faced by LDCs in relation to the global health crisis, including limited access to vaccines.
“The socio-economic impact of the pandemic differed across countries and LDCs, in general, were more severely hit by suffering larger declines in exports and growth. Their ability to respond to the pandemic was limited due to little fiscal space for stimulus packages,” his report read. “One of the greatest challenges facing LDCs is access to vaccines. An outcome on the TRIPS waiver proposal will greatly benefit Commonwealth LDCs.”
Other subjects of discussion include the need for an institution which is capable of governing world trade in the twenty-first century, and the need for positive measures to support LDCs to graduate from this category.
Read full analysis at: thecommonwealth.org/media/news/supporting-least-developed-countries-ldcs-commonwealth-ahead-wto-ministerial-conference
