Awaza: Prime Minister KP Sharma Oli and leader of the Nepali Delegation to the Third UN Conference on Landlocked Developing Countries (LLDCs), has said LLDCs face a complex web of challenges for trade potentials.
According to National News Agency Nepal, the lack of direct access to the seas, high transit costs, poor infrastructure, long and uncertain transit routes, limited market access, over-reliance on a narrow range of primary commodities, and vulnerability to global shocks and climate change-induced disasters are among those challenges that have resulted in underdeveloped and vulnerable economies in these countries.
The Prime Minister made these remarks while chairing the High-Level Thematic Roundtable 2: Seizing the Transformative Potential of Trade, Trade Facilitation, and Regional Integration for Landlocked Developing Countries, held under the Conference in Awaza, Turkmenistan. He highlighted that despite the significant trade potential of LLDCs, they account for just over one percent of global trade in goods, a situation attributed to structural barriers rather than a lack of ambition or effort.
In response to these challenges, the Awaza Programme of Action for LLDCs proposes concrete measures to transform landlocked countries into land-linked ones. These measures include building infrastructure, investing in smart trade corridors, developing transport and logistics industries, digitalizing trade and customs processes, promoting trade of ICT products and services, and deepening regional integration.
PM Oli emphasized the importance of implementing these measures sincerely to enable LLDCs to harness their trade potentials for inclusive and sustainable development. He called for strengthened cooperation and partnerships at bilateral, regional, and multilateral levels.
He stressed the importance of delivering on promises to double the share of LLDCs in global trade, expand their service exports, and foster more diversified and resilient economies. He also highlighted the moral responsibility to uphold the trade and transit rights of LLDCs, advocating for greater solidarity, enhanced financial and technological support, and fair and equitable trade opportunities.
Finally, he reiterated the urgent need for a collective push for fairer trade terms and transit regimes, ensuring that LLDCs are not left behind in the global trading system. He also referenced the Sevilla Commitment, adopted in June, which acknowledges the LLDC Programme of action and expresses a strong commitment to its full and effective implementation, underscoring the roundtable’s role as a call to action for renewed commitment and global solidarity.