LDCs focus on multilateral trading system

Nepal stressed on key challenge is to make the global trading system fully responsive to the needs and aspirations of majority of the people around the globe, in particular the Least Developed Countries (LDCs).

Addressing the the plenary session of the ninth Ministerial Conference of the World Trade Organisation in Bali today, trade, commerce and supplies minister Shanker Prasad Koirala, also conveyed LDCs' firm belief in multilateral trading system.

Nepal' is the coordinator of the LDC Group in WTO.

Koirala on the occasion, called upon all WTO members, especially key players, to display necessary flexibility to conclude the Doha Development Agenda at the earliest.

Referring to this year's negotiations on proposed Bali outcome on three pillars – trade facilitation, agriculture and development of LDC issues, he also stressed that the outcome should be balanced and credible and should keep development issues at the core of negotiations.

Highlighting the key LDC issues, Koirala said there is a need for full and timely implementation of decision on duty-free-quota-free market access together with the implementation of provisions of simplified, transparent and facilitative rules of origin. "The cotton issue be meaningfully addressed and the 2011 Decision to grant preferences to LDCs' services export be effectively and expeditiously implemented."

He also pointed out the need of effective and scaled up support to LDCs through Aid for Trade (AfT) initiative and Enhanced Integrated Framework (EIF) in order to increase LDCs' capacity to produce and trade.

On the proposed Trade Facilitation deal, Koirala said that the concerns of members lacking capacity to implement the provisions must be addressed. "On agriculture, he reaffirmed LDCs' support to a meaningful outcome on the issues advanced by developing countries," he said, underlining that the post-Bali work programme must provide a clear road map to conclude the works under the Doha Development Round.

The conference that started on December 3 will conclude on December 6.