UN opens conference on unlocking economic potential of world’s poorest countries

The Fourth UN Conference on Least Developed Countries (LDCs) in Istanbul will assess the implementation of the Brussels Programme of Action - the outcome document adopted at the last such conference, held in 2001 - and try to reach agreement on a new set of support measures for the 48 nations classified as LDCs, the UN News Centre reports.

Secretary-General Ban Ki-moon told the opening session that LDCs should not be seen as "poor and weak" but countries with "vast reservoirs of untapped potential" that are home to nearly 900 million people or 12 per cent of the global population.

"Investing in LDCs is an opportunity for all," said Mr. Ban. "First, it is an opportunity to relieve the world's most vulnerable people of the burdens of poverty, hunger and needless disease. This is a moral obligation.

"Second, investing in LDCs can provide the stimulus that will help to propel and sustain global economic recovery and stability. This is not charity, it is smart investment.

"Third, it provides a massive opportunity for South-South cooperation and investment. The world's rapidly emerging economies need both resources and markets."

The Secretary-General pointed out that LDCs "represent a vast and barely touched area for enterprise... for business. We have here, this week, all the ingredients for success... for a genuine partnership for development."

Outlining some of the challenges facing LDCs, Mr. Ban noted that the countries suffer disproportionately from preventable diseases and are most vulnerable to natural disasters, environmental degradation and economic uncertainty.

They are also the least secure, with eight of the 15 UN peacekeeping missions operating in LDCs. Over the past decade, least developed countries produced 60 per cent of the world's refugees.

Mr. Ban called for a successful conclusion to the Doha Development Round of multilateral negotiations, saying there was little point in helping LDCs to grow food and other commodities, manufacture products and develop services if they cannot trade fairly in the global marketplace.

Speaking to reporters on the sidelines of the conference, Mr. Ban stressed that the gathering must come up with a practical and far-reaching programme of action which will spur LDCs' productive capacity through trade, improved agriculture, financing for development and addressing the consequences of climate change.

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