Developing countries are being asked to take charge of their own development. According to UNCTAD, the UN organization that focuses on trade and development, the development community is looking for a change, a new way of doing things – money spent in the developing world has failed to accelerate development and produce the desired results. Gerry Adams reports.
This new way of doing things is explained in The LDC or Least Developed Countries Report for 2010. Prepared by UNCTAD, which has been following the situation of the least developed countries for several decades, this latest report focuses on “International support measures for least developed countries”. Under-Secretary-General Cheick Sidi Diarra explained what some of those support measures are:
Diarra: The report comes to the conclusion that states should be empowered to bring more social justice, to bring more equity and sharing of the wealth of the country.
Narrator: One way to do that, he says is to address the LDC’s structural weakness. Lack of diversity, he says, leads to a country’s structural weakness:
Diarra: Let me illustrate that. It’s mainly commodity-based economies. And it’s mainly based on non-processed commodity export policies. And it’s mainly based on an economy that’s structured around one or two products mainly. SEGUE You take cotton, for example, cotton producers. Instead of processing cotton to make thread and from thread to make fabric, from fabric to make a garment, they stop at the production level of cotton. SEGUE Something needs to be done about this.
Narrator: What UNCTAD has developed as a solution is the idea of productive capacity strengthening. Mr. Diarra explains:
Diarra: First of all, it’s a human capital strengthening, training of people, letting them know about what is at stake but also technically training them. The second thing is to bring also transfer of technology into these countries. And the third thing is of course to bring finances.
Narrator: The LDC report for 2010 say that unless structural weakness of the least developed countries is addressed, they will continue to be marginalized and vulnerable to external shocks and pressures.