Minister for LGRD and Cooperatives Khandaker Mosharraf Hossain Friday called upon the international financial institutions to increase the participation of least developed countries (LDCs) in the decision-making platforms.
He made the call while speaking on behalf of LDCs at the Comprehensive High-level Midterm Review of the IPoA for LDCs 2011-2020 at Hotel Titanic Belek, Antalya in Turkey, said a press release.
The minister also called for 'ambitious and concerted' efforts by all concerned for achieving the vision of Istanbul Programme of Action (IPoA) for the LDCs.
"For achieving the vision of IPoA of enabling half of the Least Developed Countries to reach the graduation criteria by 2020, we need ambitious and concerted efforts by all of us - LDCs, their development partners, UN and other international organisations, parliamentarians, civil society, and international community as a whole," he said.
Khandaker Mosharraf Hossain said without building their resilience, the LDCs will find it difficult, if not impossible, to achieve long-term sustainable development.
"In this regard, we look forward to the important study analysing the modalities for resilience building in LDCs, as recommended in the draft political declaration.
The LDCs need support from all development organisations as the group of most marginalised countries, he said, adding that without stronger presence and voice in the global economic governance, the LDCs cannot be expected to contribute in a more meaningful manner in the global economic activities.
The minister said the world is passing through a critical and volatile time.
"We all are aware that LDCs, because of their inherent structural weaknesses, always suffer the most in case of any national, regional or international crisis or challenge. LDCs as a Group achieved 7 per cent growth on an average during the first decade of this millennium. Now their growth rate has fallen significantly, with no certain prediction about when they will be able to get back to the track of high growth," he added.
He mentioned that a number of LDCs have suffered from the natural disasters, public health crises and economic shocks. LDCs in conflict and post-conflict situations are facing severe obstacles in nation building and development efforts, he said.
"In the context of the recently adopted development agenda by the international community that acknowledge that LDCs need differential and preferential treatment by the international community, it is important for us to refocus and redirect our works to achieve the visions of the Istanbul Programme of Action," the Bangladesh leader said.
He welcomed the agreement on the draft political declaration of this Comprehensive High-level Midterm Review that is "comprehensive, balanced, and forward looking."
"We congratulate the delegates who worked hard to prepare the important document, and express our thanks to all delegations and UN system organizations who provided support during consultations. The political declaration addresses the 3 pillars of sustainable development - economic, social and environmental - in a balanced manner," he said.
Khandaker Mosharraf said the LDCs are deeply concerned at the insufficient official development assistance (ODA) being allotted to LDCs.
"We are encouraged by the recent rebound of ODA, and we hope the target of 0.20 per cent of GNI of the developed countries being allocated as ODA to LDCs will be realised soon. We also appreciate the countries that are providing 50 per cent of their ODA to LDCs, and call on all development partners to follow that lead," he added.
The minister appreciated the developed and developing countries that are providing duty-free and quota-free market access to LDCs, and urged all developed countries, and developing countries in a position to do so, to provide duty-free and quota-free market access to all products from all LDCs as per the WTO Ministerial decisions.
"It is also important to implement LDC-friendly rules of origin. For realizing the aim of doubling the share of LDCs in global exports as was the objective of Istanbul Programme of Action, these steps are necessary," he said.
Khandaker Mosharraf said the LDCs welcome the formation of the Governing Council by the UN Secretary-General, and look forward to their recommendations for full operation of the UN Technology Bank for LDCs.
He requested the development partners to allocate at least 0.1 per cent of their ODA to LDCs for this Technology Bank to ensure its sustainable and productive activities.
The minister said many LDCs have significant number of their nationals as migrants working abroad.
"International community has recognised the positive contribution of migrants for inclusive growth and sustainable development. International cooperation is vital to ensure safe, orderly and regular migration involving full respect for human rights and the humane treatment of migrants regardless of their migration status," he said.
He added that it is the collective responsibility of all to ensure that the hard-earned money sent home by the migrant workers benefit their families.
"As promised in 2030 Agenda and reiterated in the draft outcome document, transaction costs of migrant remittances must be reduced to less than 3 per cent and remittance corridors with costs higher than 5 per cent have to be eliminated, he suggested, according to BSS. - IH
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Source: The Financial Express