Chand urges to enhance productive capacity of LLDCs

Kathmandu, July 19: Minister for Commerce Jayant Chand has emphasized the need to overcome the structural constraints and enhance productive capacity of the LLDCs by putting additional efforts in the construction of transport, transit and trade infrastructure.

Speaking in the Trade Ministers' Meeting of the Land Locked Developing Countries (LLDC) and the Least Developed Countries (LDCs) held in Nairobi of Kenya on the eve of Fourteenth Ministerial Meeting of the United Nations Conference on Trade and Development (UNCTAD), Minister Chand expressed his confidence that the meeting would further enhance the solidarity and unity in advancing the common agenda of LLDCs.

"Minister Chand underscored that the LDCs are firm supporters of rule-based, equitable, non-discriminatory and fair multilateral trading system. Despite continued efforts, LDCs are still facing several challenges including supply-side constraints, improving livelihood of the poor people, achieving sustained and sustainable economic growth and poverty reduction," read a press statement issued by the Permanent Mission of Nepal in Geneva.

According to Chand, many of the products of LDCs were not getting market access due to several non-tariff and para-tariff barriers, which had constrained their integration into the regional and global value chains. "The situation has further marginalized them and hampered their capacity for inclusive and sustainable development."

He further articulated the need for more concrete actions to lift the LDCs out of poverty, hunger, and malnutrition, as well as to enable them to overcome the emerging socio-economic challenges.

The meeting was concluded by adopting the 22-point Ministerial Comminique of the LLDCs.

Secretary general of UNCTAD Dr. Mukhisa Kituyo and under-secretary general and high representative of UNOHRLLS Gyan Chandra Acharya and other dignitaries addressed the meeting.