New York, 23 February 2017 – Significant benefits in trade to and from vulnerable countries are anticipated after The World Trade Organisation’s Trade Facilitation Agreement (TFA) came into force on 22 February 2017.
The TFA’s entry into force was confirmed after securing four more ratifications culminating in the required two thirds acceptance of the agreement by its 164 members. It is expected that the agreement will bring about significant benefits in trade for developing countries, including the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, through measures to reduce trade costs and delays including expediting the passage of goods and the streamlining of border procedures. The WTO has estimated that the TFA could reduce trade costs between 9.6 and 23.1 per cent for its members worldwide. This translates to export gains of between $750 billion and $1 trillion.
The Office of the High Representative for Least Developed Countries, Landlocked Developing Countries and Small Island Developing States was established 15 years ago. This special magazine reflects on progress made during the last decade and a half and looks forward to consider the future for the world’s vulnerable countries….
New York, 23 December 2016 – The United Nations General Assembly in New York officially established a Technology Bank for Least Developed Countries today. The new UN institution is viewed as a significant achievement for the development of science, technology and innovation in the world’s poorest countries.
The Technology Bank is intended to help least developed countries strengthen their science, technology and innovation capacities, foster the development of national and regional innovation ecosystems that can attract outside technology and generate homegrown research and take these advancements to market. Read more