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Implementation of the Brussels Programme of Action for the Least Developed Countries in Asia and the Pacific Region

A Decade of Achievments and Development Challenges 2001-2010

image of Implementation of the Brussels Programme of Action for the Least Developed Countries in Asia and the Pacific Region
This publication is addressed to the policy makers and their development partners and other stakeholders to generate constructive dialogues and exchange of information in shaping the future course of action in support of the development aspirations of the Asia-Pacific LDCs. It is a major contribution towards understanding the complex and evolving development challenges and gaps faced by the Asia-Pacific LDCs during 2001-2010. It is hoped that the analyses and policy options offered in this publication will assist the LDC leaders and other stakeholders in sketching a new programme of action by the Fourth UN Conference on LDCs for the benefit of some of the most vulnerable and marginalized countries in the world.

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Enhancing the share of global trade, aid and financial flows

In May 2001, the Brussels Programme of Action (BPoA) emphasized the importance of enhancing the share of the least developed countries (LDCs) in global trade over the period 2001-2010. This would be done in order to foster the economic growth and development of these countries (Commitment No. 5). The regional mid-term review, however, noted that the trade related and other commitments made under the BPoA remained substantially unfulfilled for the Asia Pacific LDCs. In addition, these countries’ efforts to gain increased share in global trade and investment were seriously undermined by the recent financial crisis and global economic downturn. Though this financial slump did not originate in Asia, it created substantial adverse impacts on the Asia Pacific LDCs’ economies. These effects were transmitted through various channels, including trade in goods and services, foreign direct investment (FDI) inflows, remittances, official development assistance (ODA) flows, and adverse consequences for the financial markets.

English

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