Istanbul, 10 July 2007: The Ministerial Conference of the Least Developed Countries on “Making Globalisation Work for LDCs” has ended in Istanbul today with a call on the developed countries to eliminate trade-distorting domestic support, export subsidies and all trade-distorting barriers, including export subsidies.

 

In a Ministerial Declaration adopted at the end of the two-day conference, the LDCs also urged the developed countries to facilitate foreign direct investment flows to the LDCs and to “enhance the benefits they can derive from such investments, particularly in the areas of capacity building, technology transfer, building and developing infrastructure, entrepreneurship development, employment generation and poverty alleviation.”

 

The LDCs, which are characterised as the weakest and most vulnerable segment of the international community, demanded greater participation in international economic decision-making and norm-setting.

 

“We call upon the international community to undertake pragmatic and innovative measures to further enhance their effective participation in international dialogues and decision making processes.” 

 

At the end of the conference, the Turkish Foreign Ministry Undersecretary, Mr. Ertugrul Apakan, said that the conference was only part of the process to address the needs of the Least Developed Countries that will have to be carried on in other international forums.

 

Reiterating Turkish support to the development of LDCs, he said that Turkey would appoint a coordinator of LDCs in the Foreign Ministry.

 

Earlier, the government of Turkey had announced an allocation of 5 million US dollars to support small and medium scale development projects in the LDCs, in addition to a 1 million dollar contribution to the Enhanced Integrated Framework for Trade-related Technical Assistance for the LDCs and 15 million dollars for projects in LDCs, Landlocked Developing Countries and Small Island Developing States.