UNCTAD meeting to be held in Accra in April

Accra, March 13, GNA - The danger that financial turmoil and an economic slowdown in industrialized countries will derail promising economic growth in the developing world is likely to be at the heart of debate when senior government officials, economists, and development experts gather in Accra in April for the 12th United Nations Conference on Trade and Development.

UNCTAD XII, to be held 20-25 April, has as its principal theme; "Addressing the Opportunities and Challenges of globalization for development."

Some 4,000 representatives of UNCTAD's 193 member States, including several Heads of State, and participants from other international bodies, non-governmental organizations, business, and academia are expected, a statement from UNCTAD received in Accra on Thursday said. The statement said at the conference, member governments would negotiate and adopt a text assessing the international climate for economic development and defining UNCTAD's work programme for the next four years.

"Member countries began the process of preparing the UNCTAD XII text in November, and further intense negotiations are expected in Accra," it said.

UNCTAD's quadrennial ministerial meetings started when the organization was created in 1964.

"UNCTAD's mandate is more important than ever in today's context of deepening interdependence," says Supachai Panitchpakdi, UNCTAD Secretary-General.

The conference comes as global uncertainties threaten the most promising economic growth in the developing world in 30 years. During the past half-decade, developing countries have averaged economic growth of 5% or more, and the international landscape has tilted with the emergence of economic heavyweights outside the industrialized west, including China, India, and Brazil.

The statement noted that the world economic outlook hinges strongly on whether these nations and the developing countries they increasingly trade with have enough momentum to become less vulnerable to downturns in North America and Western Europe.

"A related problem to be scrutinized in Accra is the seeming paradox that despite high growth in Asia, Latin America, and Africa, only limited reductions in poverty have been achieved, especially in the world's 49 least developed countries (LDCs)."

It said the conference's high-level discussion on 21 April would be devoted to Africa where most LDCs are located. The session will be chaired by United Nations Secretary-General Ban Ki-moon and moderated by UNCTAD Secretary-General Supachai Panitchpakdi, and will reflect the importance attached to ensuring that African countries benefit more from globalization.

Key concerns include an inability among many African nations to create enough jobs, particularly well-paid and productive ones, and a continuing dependency on agriculture and extractive industries. 13 March 08