The Least Developed Countries Report 2016: The Road to Graduation and Beyond – Making the Most of the Process

The Trade and Development Board,

Welcoming the continued efforts of UNCTAD towards implementing priorities in the Programme of Action for the Least Developed Countries for the Decade 2011–2020 (Istanbul Programme of Action), and taking into account the Nairobi Maafikiano,

1. Notes that limited progress has been made towards graduation, making the objective of enabling half of the least developed countries to meet graduation criteria by 2020 challenging;
    
2. Expresses concern that, in the five years since the adoption of the Istanbul Programme of Action, the least developed countries as a group achieved annual growth below the target of 7 per cent necessary to significantly reduce extreme poverty and put those countries on the path of sustained economic growth and development;
    
3. Further encourages Governments of the least developed countries to put forward comprehensive policies and strategies to effectively address the socioeconomic challenges, marginalization and underdevelopment of those countries, and welcomes the support of development partners in this regard, including through the implementation of the 2030 Agenda for Sustainable Development;
    
4. Underscores the importance of empowering the least developed countries to build their productive capacities with a view to the structural transformation of their economies, build resilience to external shocks, and achieve broad-based, inclusive and sustainable economic growth and development consistent with the Sustainable Development Goals;
    
5. Emphasizes that UNCTAD work on the least developed countries should inter alia include exploring ways and means of reducing their vulnerability, and expresses appreciation for ongoing UNCTAD work and assistance to the least developed countries in this regard;
    
6. Emphasizes the importance of enhanced support to the least developed countries to enable them to achieve the goals and targets of the Istanbul Programme of Action by 2020, to reach a higher level of sustainable growth and development, as well as for the least developed countries and their development partners to make best use of existing initiatives and programmes, including relevant ministerial decisions of the World Trade Organization;
    
7. Emphasizes the importance of harnessing financing from all appropriate sources in support of development, including domestic resource mobilization, official development assistance, foreign direct investment and private remittances;
    
8. Expresses appreciation to bilateral donors for their continued support, in particular to those that have met the commitment by many developed countries of official development assistance targets of 0.15–0.20 per cent of gross national income to the least developed countries, and encourages others to make their best efforts to meet the agreed targets as contained in the Istanbul Programme of Action, underscoring the importance of enhancing the quality of aid to the least developed countries;
    
9. Reaffirms that UNCTAD, within its mandate should strengthen its work in support of the least developed countries through its pillars of research and analysis, consensus-building and technical cooperation, for the further implementation of all relevant priority areas of the Istanbul Programme of Action, including on market access, rules of origin and the services waiver;
    
10. Requests UNCTAD, within the framework of the existing expert group meetings, to organize a single-year expert meeting dedicated to discussion of ways and means of improving the implementation of priority areas agreed in the Istanbul Programme of Action, and focused on its goals and targets related to productive capacities and doubling the share of the least developed countries in global exports;
     
11. Invites donors and other developing countries in a position to do so to replenish the UNCTAD Trust Fund for the Least Developed Countries, which serves as an important tool for UNCTAD to quickly and effectively respond to increasing demands from the least developed countries for its work;
     
12. Notes The Least Developed Countries Report 2016: The Path to Graduation and Beyond – Making the Most of the Process, and takes note of the policy recommendations contained therein, recognizing the importance of policies towards graduation with momentum.