Addis Ababa Prime Minister Abiy Ahmed and his delegation are in Doha, Qatar to attend the 5th United Nations Conference on the Least Developed Countries (LDC5), according to the Office of the Prime Minister.
LDC5 will take place in Doha, Qatar, from 5 to 9 March 2023 with the objective to mobilize international community’s commitments towards the implementation of the Doha Programme of Action for the LDCs (2022-2031) adopted by the UN General Assembly in April 2022.
Over the next five days in Doha, government leaders and other stakeholders are set to assess the implementation of the Istanbul Programme of Action and mobilize additional international support and action for the world’s 46 least developed countries.
The 46 least developed countries (LDCs) comprise about 14 percent of the global population and are some of the poorest and most vulnerable economies in the world.
They account for only 1.3 percent of global Gross Domestic Product, receive just 1.4 percent of total Foreign Direct Investment and trade under 1 percent of world merchandise exports, according to United Nations Conference on Trade and Development (UNCTAD).
The world’s Least Developed Countries are in a race against time to deliver the Sustainable Development Goals by 2030.
The remaining years need to usher in a new global partnership to ensure these 46 countries benefit from social, economic and environmental development, according to United Nations.
At LDC5, UNCTAD calls for bold action and development cooperation to achieve inclusive growth and sustainable development in LDCs.
UNCTAD calls for: Effective debt relief and management in LDCs to avert the growing risks of debt distress partly caused by the lack of alternative sources of development finance.
Export diversification in LDCs to shift economic activities, jobs and resources from low-productivity sectors to higher-value-added and higher-productivity sectors.
As well as stronger productive capacities in LDCs to improve their capacity to make quality goods and deliver services to enable them to participate more fully in global trade.
Source: Ethiopia News agency