Harnessing Trade for Development in Least-developed Countries
Recognizing that trade plays a central role in the efforts of least-developed countries (LDCs) to lift themselves out of poverty, what needs to be done to build a strong and sustainable trading future for LDCs? This brochure looks back at the trade performance of LDCs over the past ten years and the challenges that lie ahead.
Trade is a key pillar of the development strategies of LDCs and a main driver of economic growth and poverty alleviation. An open rules-based multilateral trading system has the potential to facilitate the full integration of LDCs into global trade. Open markets play an essential role in supporting growth and job creation. In order to reap the full benefits of these opportunities, market openings need to be accompanied by capacity building initiatives to help developing countries bring to market internationally competitive and tradable goods and services. The WTO is at the forefront of efforts to make this happen in the context of the Doha Round of trade negotiations and in its role in Aid for Trade and in the Enhanced Integrated Framework for LDCs.
Published in 2011