The Least Developed Countries Report 2021: The Least Developed Countries in the Post-COVID World – Learning from 50 Years of Experience

          The Trade and Development Board

1. Welcomes, with appreciation, The Least Developed Countries Report 2021: The Least Developed Countries in the Post-COVID World – Learning from 50 Years of Experience for the analysis it makes of 50 years of growth and development experience of the least developed countries;
    
2. Notes with deep concern how the coronavirus disease (COVID-19) pandemic significantly reversed some of the progress in the least developed countries that had been achieved in several dimensions of development, notably on the fronts of poverty, hunger, education and health, which can have lingering adverse consequences for the development of the least developed countries over the midterm.
    
3. Further notes with concern that about half of current least developed countries have fallen behind other countries, since 1971, in per capita economic growth;
    
4. Expresses concern at the challenges that the least developed countries will have to confront in the coming years, especially recovery from the COVID-19 pandemic, regaining momentum in accomplishing the Sustainable Development Goals and the prospects of intensifying climate change;
    
5. Endorses the recommendation of the report that the least developed countries need to implement a new development paradigm, centred on the development of productive capacities, improved access to global value chains, structural transformation and international support measures to achieve inclusive growth, jobs creation and poverty reduction in a way that ensures environmental sustainability and social inclusivity, leaving no one behind, as well as builds resilience, and eventually leads to graduation with momentum;
    
6. Underscores the importance of digitalization, which has been proven essential during COVID-19 pandemic, hence it is critical to accelerate digital transformation in the least developed countries by addressing technological capabilities gaps to reduce the widening digital divide;
    
7. Concurs with the conclusion of the report that, in order to achieve structural transformation, the least developed countries need to reinforce their institutional capacities and those of the domestic entrepreneurial sector, and receive enhanced support thereto from their development partners;
    
8. Further concurs with the need for the least developed countries and their development partners to agree on ways and means to enhance the coherence and alignment of international support measures with least developed countries’ national plans, strategies and policies that contribute to achieving the Sustainable Development Goals;
    
9. Calls upon UNCTAD to play an active role in the implementation of the new programme of action for the least developed countries, especially through its work on vulnerability, smooth transition strategies to graduate with momentum, productive capacities, structural transformation, investment analysis and capacity-building;
    
10. Encourages preference granting members to continue with efforts to simplify rules of origin applicable to imports from the least developed countries to enhance utilization of preferential markets as means to facilitate the boosting of LDCs exports in the wake of COVID -19 pandemic economic recovery.
     
11. Encourages donor countries, and other countries in a position to do so, to replenish the UNCTAD Trust Fund for the Least Developed Countries.