76th Executive Session of UNCTAD's Development Board

Mr. Chair,

My Delegation would like to express its gratitude to UN Conference on Trade and Development (UNCTAD) for organizing the 76^th Executive Session of the Trade and Development Board, as well as for its pivotal contribution to the implementation of the Doha Programme of Action (DPoA) for the Least Developed Countries (LDCs).

This session provides an important opportunity to reflect on UNCTAD’s work in assisting the LDCs in their pursuit of sustainable development. This endeavour requires strengthened solidarity and reinvigorated global partnerships, which include LDCs, their development partners, the United Nations system, and the international community as a whole.

In this regard, my Delegation would like to offer some areas for further consideration.

First, people are LDCs’ most valuable resource and, as stated in the DPoA, the “critical asset for their development.[1]” As such, any policy or program designed to genuinely support them should not be limited to addressing economic issues. Indeed, as Pope Francis has recalled, “[s]ome economic rules have proved effective for growth, but not for integral human development.”[2] Rather, any action should prioritize the integral human development of each and every person.

My Delegation commends UNCTAD’s efforts in investigating the influence of economic and social policies on the progression of poverty and inequality. There is a clear need to pay attention to inequalities within the countries, including in access to health care and education, which have a significant detrimental impact on the ability of the LDCs to achieve the Sustainable Development Goals (SDGs).[3] In this regard, my Delegation shares UNCTAD’s call for greater technical assistance and capacity building efforts to address poverty and inequality.

Second, “international trade – if properly oriented – promotes development.”[4] However, LDCs still face considerable challenges in harnessing the full potential of international trade and benefiting from the opportunities offered by global value chains and foreign investment.[5] Several policy options can be considered to maximize the benefits of trade for LDCs, ranging from enhanced trade facilitation, including in services, to preferential trade agreements. The international community must take bold steps, building on existing commitments, to increase the participation of LDCs in global trade, diversify their exports, and build their productive capacities.

Finally, the path to development for LDCs is linked inextricably to the advancement of digital development. These technologies hold great promises for structural transformation, as well as for inclusive and sustainable development. However, the goal of universal and meaningful connectivity and affordable access to the Internet remains elusive due to cost burden, lack of skills and infrastructures in LDCs. At the same time, the adoption of digital technologies can also disrupt labour markets and exacerbate existing inequalities between countries if not done in an inclusive, sustainable and responsible manner.[6] The Holy See commends UNCTAD’s work in deepening the understanding of how digitalization, innovative sources of finance and technology-enabled processes can be used to facilitate the growth of micro, small and medium sized enterprises in developing countries and to support their integration into regional and global value chains.[7]

Thank you, Mr. Chair.