Ministerial Conference of the LDCs 2008

19-20 November, Siem Reap, Cambodia: Aid for Trade and South-South Cooperation for Poverty Reduction

Ministers of industry and commerce from around 49 of the world’s poorest countries described as "least developed" are gathering over 19-20 November in Siem Reap, Cambodia to discuss issues related to international trade.

Hosted by the Government of the Kingdom of Cambodia, UNIDO and WTO are jointly organising a Conference of Ministers from Least Developed Countries together with relevant UN agencies, financial institutions and donors to discuss Aid for Trade and South-South Cooperation.

The Prime Minister of Cambodia, H.E. Mr. Hun Sen is to open this event, the second in a series of  LDC conferences dedicated to the above theme. The conference aims to help search for solutions to common problems faced by the poorest nations in their integration in global trade.

One of the main topics of discussion is "Aid for Trade" (AfT), a package of incentives designed to help overcome structural and resource constraints of least developed countries in exchange for more speedy trade reforms.

UNIDO has been working closely with various countries and development agencies to highlight the need to diversify and boost industrial production in the poorest countries. This "supply-side" approach, it is argued, is essential for more open international trade that can lead to greater prosperity for the poor, especially if it targets key sectors such as agriculture and labour-intensive technologies.

It is hoped that the gathering will help identify not just key challenges, but also some successful pilot programmes with the potential for replication across various countries with support from both traditional and emerging donors.