Kathmandu,17 Dec 2014: The United Nations Conference on Trade and Development (UNCTD) pointed the need of economic growth and structural transformation for the post 2015 development for overall progress of the Least Developed Countries.
Resealing its annual report today, UNCTAD pointed out the need in the second day of the ministerial meeting comprising high-level officials of the least developed countries of Asia-Pacific and United Nations.
The meeting is jointly organised by the government of Nepal and United Nations Office of the High Representatives for the Least Developed Countries, Land Locked Developing Countries and Small Developing States (UNOHRLLS).
The UNCTAD also suggested for fostering growth with structural transformation requires LDCS to focus on three critical policy areas: resource mobilization to finance productive investment; industrial policy aimed at upgrading and diversifying the economic structure; and a supportive macroeconomic policy stance. For LDCs to achieve the SDGs, they would also require a concrete effort by the international community, especially in terms of additional and better delivered official development assistance, more development-friendly international financial and trade systems, and effective and equitable responses to climate change.
Stating that out of 48 LDCs in the world, most of the countries could not achieve the Millennium Development Goals (MDGs), the report stressed on the need of a formal support and other assistances from international community to ensure the sustainable development in the countries in 15 years after 2015.
Afghanistan, Bangladesh, Bhutan, Cambodia, Myanmar, Vanuatu, Yemen among others are in 13 LDCs of Asia-Pacific region.