Diversifying Exports in Fragile LDCs: Action for Peace and Poverty Reduction
At the 2019 Aid for Trade Global Review, EIF hosted a side event focusing on fragile LDCs
Wednesday, 3 July 2019
Room E - WTO
According to the OECD, 80 per cent of the world’s poor will be living in fragile contexts by 2030. For the world’s least developed countries (LDCs) that are also struggling with fragile situations, their challenges are greater – and action is necessary, now.
Trade flows are vital for LDC economies, and this is even more true for those in fragile contexts. For such countries, their exports are highly concentrated and volatile. Three products represent at least 40 per cent of merchandise exports, and most exports are of primary commodities. It is evident that economic diversification in LDCs is urgently needed – to create jobs, to contribute to growth and stability, and to reduce the impact of external shocks.
Through the Aid for Trade initiative, the international development community since 2006 has supported LDCs to set the necessary economic foundations and build the needed infrastructure, as well as to strengthen key productive sectors. But, Aid for Trade flows remain limited to a small number of LDCs and commitments have not substantially increased since 2009. Redoubling global Aid for Trade efforts is essential, and for LDCs in fragile situations, a priority.
This session will gather LDC ministers and entrepreneurs together with development partners to explore what is working and what more needs to be done to ensure stability, to boost economic diversification, to reduce poverty, and to deliver on the SDG commitment of 'leaving no one behind.'
Mr. Patterson W. Brown, Trade, Investment and Governance Advisor, Bureau of Food Security, USAID
- H.E Dr. Mohammed Almaitami, Minister for Industry and Trade, Yemen
- H.E. Kodjo Adedze, Minister of Trade and Private Sector Promotion, Togo
- Ms. Noella Muhamiriza, Girl Ambassador for Peace, Democratic Republic of Congo, Global Network of Women Peacebuilders (GNWP) - Video message
- Ms. Geetha Tharmaratnam, Aleyo Captial Investment Committee
- Mr. Andrew McCoubrey, Head, Trade for Development, DFID
- Mr. Ratnakar Adhikari, Executive Director of the Executive Secretariat of the EIF
See here for a video recording of the session.