WTO members reach deal to support Bangladesh, other LDCs on path to graduation

[Bilal9]

The important milestone was reached on 23 October in the global efforts to assist least-developed countries (LDCs) on the path to graduation from LDC status, said a statement issued by the WTO.​

The World Trade Organization headquarters (WTO) in Geneva, Switzerland, March 4, 2021. File Photo: REUTERS/Denis Balibouse

The World Trade Organization headquarters (WTO) in Geneva, Switzerland, March 4, 2021. File Photo: REUTERS/Denis Balibouse

The General Council of the World Trade Organization (WTO) has adopted a decision on the extension of support measures for graduating countries.

The important milestone was reached on 23 October in the global efforts to assist least-developed countries (LDCs) on the path to graduation from LDC status, said a statement issued by the WTO.

The decision was taken as senior officials gathered at the WTO on 23 and 24 October for a meeting aimed at making preparations for the 13th WTO Ministerial Conference, scheduled for February 2024 in Abu Dhabi.

Welcoming the achievement, Director-General Ngozi Okonjo-Iweala said, "LDC graduation is an important sign of development progress. Today, WTO members reaffirmed their commitment to helping smooth this process for graduating LDCs to prevent any loss of the economic growth and development momentum that had propelled them to graduation.

"This decision is a significant step towards addressing the particular challenges graduating LDCs face, and will help people from these countries tap into the opportunities that international trade brings. It also is another welcome sign that the wider WTO membership is responding to LDC priorities."

Congratulating everyone on the successful outcome, Chair of the General Council, Ambassador Athaliah Lesiba Molokomme of Botswana, said, "This is commendable and inspiring, and hopefully puts the work and discussions that lie ahead of us, today and tomorrow, on a positive trajectory."

Ambassador Kadra Ahmed Hassan of Djibouti, coordinator of the WTO Group of LDCs, said the decision will provide "some measure of predictability and trust for those of our members on the road to graduation and further integrating into the trading system."

"We also hope that we will be able to replicate and emulate what we are about to do with this decision on LDCs to negotiate and to not wait for Ministerial Conferences to have agreements," she added.

The LDC graduation refers to the point when an LDC meets certain United Nations (UN) development criteria and is no longer defined under the category.

As the most vulnerable members of the international community, LDCs are accorded special treatment at the WTO, such as enhanced market access opportunities and flexibility in adopting WTO rules.

The decision encourages WTO members that remove countries from their duty-free and quota-free preference programmes upon graduation from the UN LDC list to provide a smooth and sustainable transition period for the withdrawal of these preferences after graduation.

It marks an important contribution to the implementation of the Doha Programme of Action for LDCs for the period 2022-2031.

While graduation from LDC status represents an important milestone in their development, LDCs have underscored the challenges they face trying to integrate into the global economy while international support measures are being phased out.

Over the past three years, the WTO's LDC group has been pursuing a smooth transition mechanism in the WTO to extend LDC-specific preferences and provisions in WTO agreements after graduation.

Discussions are ongoing in the WTO Sub-Committee on LDCs on other elements of the LDCs' requests relating to special and differential treatment.

The Coordinator of the LDC Group said, "LDC graduation has been a key priority for the WTO LDC Group. This decision provides greater predictability and confidence to countries on the path to graduation and to further integration into the multilateral trading system."

There are currently 46 LDCs, of which 16 are at different stages of the graduation process. Of these, ten are WTO members (Angola, Bangladesh, Cambodia, Djibouti, Lao People's Democratic Republic, Myanmar, Nepal, Senegal, Solomon Islands and Zambia) and four are negotiating their terms of entry into the WTO (Bhutan, Comoros, Sao Tomé and Principe, and Timor-Leste).

The other two LDCs on the graduation path are Kiribati and Tuvalu.

The Doha Programme of Action for LDCs calls for 15 more LDCs to meet the graduation criteria by the end of the decade.

 

[saif]

The other two LDCs on the graduation path are Kiribati and Tuvalu.

Never heard of these two countries. Probably they are small Island countries.

 

[SoulSpokesman]

It is a travesty of justice that (relatively) rich countries like BD are given LDC status while poorer countries like PAK & IND have to struggle.

Regards

 

[saif]

It is a travesty of justice that (relatively) rich countries like BD are given LDC status while poorer countries like PAK & IND have to struggle.

Regards

Our politicians never applied to graduate from LDC because they wanted to keep the benefits (soft loans, trade concessions etc) all LDCs get from rich countries.

 

[IndianLite]

It is a travesty of justice that (relatively) rich countries like BD are given LDC status while poorer countries like PAK & IND have to struggle.

Regards

Pakistani India bhai bhai are too proud to gain the benefits of LDC.

Bangladesh has no false pride whilst there are still people living in the open and going hungry.

You are a bloody LDC unless your GDP per capita is at around 10k. It’s only at that level you eliminate absolute poverty.

 

[Bilal9]

Never heard of these two countries. Probably they are small Island countries.

Yes they are. Tiny Island countries.

The group of Islands called Kiribati (KI) was named from Gilbert and Ellice Islands and Tuvalu (TV) is another island close by. They are both North of Fiji and Tonga and all belong to the South Pacific Islands in the Bikini Atoll, North of New Zealand.

Lovely touristy places to visit - if you ever get the chance...beaches made of fine sugary white sand and endless shallow blue seas.

Our Western Marine constructed an advanced ship for Tokelau, another Island which is also close by.

 

[saif]

Yes they are. Tiny Island countries.

The group of Islands called Kiribati (KI) was named from Gilbert and Ellice Islands and Tuvalu (TV) is another island close by. They are both North of Fiji and Tonga and all belong to the South Pacific Islands in the Bikini Atoll, North of New Zealand.

Lovely touristy places to visit - if you ever get the chance...beaches made of fine sugary white sand and endless shallow blue seas.

Our Western Marine constructed an advanced ship for Tokelau, another Island which is also close by.

View attachment 965750

Thank you for the information and the map

 

[Bilal9]

Here is the ship Western Marine built for Tokelau. Rather picturesque country, if I may say so. And the vessel was very specialized and modern.

It is a travesty of justice that (relatively) rich countries like BD are given LDC status while poorer countries like PAK & IND have to struggle.

Regards

No travesty bhai. You call yourself a superpower, what help do you need?

 

[saif]

Here is the ship Western Marine built for Tokelau. Rather picturesque country, if I may say so. And the vessel was very specialized and modern.

View attachment 965800

View attachment 965801

View attachment 965802

Someday we will establish ourselves as a leading ship building nation, Inshallah. Thank you for the pics. They are cool

 

[Bilal9]

Someday we will establish ourselves as a leading ship building nation, Inshallah. Thank you for the pics. They are cool

Here are more pictures for recent Western Marine builds.

Bangladesh Economic & Infrastructure Development - Updates & Discussions

Someone kept complaining about vanity projects. All I see is things that help to increase growth and productivity whilst ppl are becoming uplifted. Yes productive projects built with people's remittance money and entrepreneurs' export proceeds. None of which Hasina had any hand in getting...

pdf.defence.pk

 

[saif]

Here are more pictures for Wester Marine builds.

Bangladesh Economic & Infrastructure Development - Updates & Discussions

Someone kept complaining about vanity projects. All I see is things that help to increase growth and productivity whilst ppl are becoming uplifted. Yes productive projects built with people's remittance money and entrepreneurs' export proceeds. None of which Hasina had any hand in getting...

pdf.defence.pk

They are lovely

 

[mmr]

The important milestone was reached on 23 October in the global efforts to assist least-developed countries (LDCs) on the path to graduation from LDC status, said a statement issued by the WTO.​

The World Trade Organization headquarters (WTO) in Geneva, Switzerland, March 4, 2021. File Photo: REUTERS/Denis Balibouse
View attachment 965582
The World Trade Organization headquarters (WTO) in Geneva, Switzerland, March 4, 2021. File Photo: REUTERS/Denis Balibouse

The General Council of the World Trade Organization (WTO) has adopted a decision on the extension of support measures for graduating countries.

The important milestone was reached on 23 October in the global efforts to assist least-developed countries (LDCs) on the path to graduation from LDC status, said a statement issued by the WTO.

The decision was taken as senior officials gathered at the WTO on 23 and 24 October for a meeting aimed at making preparations for the 13th WTO Ministerial Conference, scheduled for February 2024 in Abu Dhabi.

Welcoming the achievement, Director-General Ngozi Okonjo-Iweala said, "LDC graduation is an important sign of development progress. Today, WTO members reaffirmed their commitment to helping smooth this process for graduating LDCs to prevent any loss of the economic growth and development momentum that had propelled them to graduation.

"This decision is a significant step towards addressing the particular challenges graduating LDCs face, and will help people from these countries tap into the opportunities that international trade brings. It also is another welcome sign that the wider WTO membership is responding to LDC priorities."

Congratulating everyone on the successful outcome, Chair of the General Council, Ambassador Athaliah Lesiba Molokomme of Botswana, said, "This is commendable and inspiring, and hopefully puts the work and discussions that lie ahead of us, today and tomorrow, on a positive trajectory."

Ambassador Kadra Ahmed Hassan of Djibouti, coordinator of the WTO Group of LDCs, said the decision will provide "some measure of predictability and trust for those of our members on the road to graduation and further integrating into the trading system."

"We also hope that we will be able to replicate and emulate what we are about to do with this decision on LDCs to negotiate and to not wait for Ministerial Conferences to have agreements," she added.

The LDC graduation refers to the point when an LDC meets certain United Nations (UN) development criteria and is no longer defined under the category.

As the most vulnerable members of the international community, LDCs are accorded special treatment at the WTO, such as enhanced market access opportunities and flexibility in adopting WTO rules.

The decision encourages WTO members that remove countries from their duty-free and quota-free preference programmes upon graduation from the UN LDC list to provide a smooth and sustainable transition period for the withdrawal of these preferences after graduation.

It marks an important contribution to the implementation of the Doha Programme of Action for LDCs for the period 2022-2031.

While graduation from LDC status represents an important milestone in their development, LDCs have underscored the challenges they face trying to integrate into the global economy while international support measures are being phased out.

Over the past three years, the WTO's LDC group has been pursuing a smooth transition mechanism in the WTO to extend LDC-specific preferences and provisions in WTO agreements after graduation.

Discussions are ongoing in the WTO Sub-Committee on LDCs on other elements of the LDCs' requests relating to special and differential treatment.

The Coordinator of the LDC Group said, "LDC graduation has been a key priority for the WTO LDC Group. This decision provides greater predictability and confidence to countries on the path to graduation and to further integration into the multilateral trading system."

There are currently 46 LDCs, of which 16 are at different stages of the graduation process. Of these, ten are WTO members (Angola, Bangladesh, Cambodia, Djibouti, Lao People's Democratic Republic, Myanmar, Nepal, Senegal, Solomon Islands and Zambia) and four are negotiating their terms of entry into the WTO (Bhutan, Comoros, Sao Tomé and Principe, and Timor-Leste).

The other two LDCs on the graduation path are Kiribati and Tuvalu.

The Doha Programme of Action for LDCs calls for 15 more LDCs to meet the graduation criteria by the end of the decade.

So what exactly is the deal? Like bd will get duty free access for another 10 years?

 

[Bilal9]

So what exactly is the deal? Like bd will get duty free access for another 10 years?

No, most of the LDC's will get duty free access until 2030 (end of the decade). However some countries are suggesting more extension, until say 2033. Still to be decided.