PARLIAMENTARIANS ROUND TABLE ADDRESSES COMMODITIES, DEVELOPMENT FINANCE AT THIRD LEAST DEVELOPED COUNTRIES CONFERENCE IN BRUSSELS

Third UN Conference on LDCs

4^th Meeting (PM)

PARLIAMENTARIANS ROUND TABLE ADDRESSES COMMODITIES, DEVELOPMENT FINANCE

AT THIRD LEAST DEVELOPED COUNTRIES CONFERENCE IN BRUSSELS

(Received from a UN Information Officer.)

BRUSSELS, 14 May -- Commodities, capacity-building and financing for development were the main thematic topics addressed during a high-level parliamentary round-table discussion on “Parliamentary Support for the Fight against Poverty” this afternoon.  The round table was one of several parallel events taking place as part of the Third United Nations Conference on Least Developed Countries, which is being held in Brussels, Belgium, from 14 to 20 May.

The objective of the event was to mobilize parliamentarians worldwide to contribute to the dialogue on issues to be addressed during the Conference.  The initiative aimed at promoting parliamentary action on issues addressed by the Conference and parliamentary follow-up to its results. 

In his opening remarks, Rubens Ricupero, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), said the degree of convergence on the diagnosis of the problems facing least developed countries (LDCs) and the agreement on the necessary remedies during the morning’s inaugural events had been remarkable.  However, it was not enough to agree on general principles -– they must be translated into specific measures with real content.  For that to happen, the necessary political will was essential, and that could only be provided by the world’s parliaments.

Alexander Corrie, co-President, Joint Parliamentary Assembly of the Partnership Agreement between the African, Caribbean and Pacific Group of States and the European Community and its Member States, also made opening remarks.  He said the Conference should come up with concrete and realistic targets to address the problems of LDCs.  Conflict resolution, agricultural development, debt relief and education, including the education of women, were imperative.  The goals of the Conference must be realistic, applicable and acceptable to both the North and the South.

During the discussion on commodities, with a particular focus on agriculture, speakers noted that the removal of trade barriers and the reduction of subsidies would greatly benefit LDCs.  Those countries faced unstable prices, the vagaries of the market, and high taxes.  They had been “outgunned and out-negotiated” in all the processes, in which they had had little or no control. 

Trade preferences in world markets were concentrated on products where tariffs were already low, it was noted.  This did not make moral or economic sense.  Hypocrisies in conditions placed on LDCs -- for example, they were told

they could not use aid money to subsidize agriculture, while the donors subsidized their own farmers -- must also be redressed.

Speakers during the discussion on capacity-building and new technologies for development said the accumulation of capital was not enough to guarantee growth.  Capacity-building, good governance and the development of competence and institutions were essential for sustainable economic growth.  Institutions provided the framework within which entrepreneurs could participate in the economy. 

Scholarships and subsidies for training -– with a special emphasis on women -- should be granted, and a priority should be placed on scientific and technical research.  Uneducated women represented a massive labour force that could be tapped for the benefit of the LDCs and the world.  Cooperation between North and South must be strengthened to help in the area of training and education.  National and international partnerships should be encouraged.  The problem of corruption must also be addressed.  Effective monitoring mechanisms should be set up to address that particular problem, thus, creating a more attractive environment for investment.

During the discussion on financing for development, debt relief and capital flows, the speakers noted that the forecast of long-term debt sustainability had proven too optimistic.  Debt relief must be deepened and the Heavily Indebted Poor Countries (HIPC) Initiative must be revisited.  A positive synergy of efforts was needed to pave the way forward.  Those present should ask themselves what role the Parliaments would play in addressing development in the LDCs.  Was a juridic or institutional framework being created to help the mobilization of internal and external financial means?  Parliamentary members must develop their own capacities to help address the issues at hand. 

A suggestion was made by one speaker that those who had loaned money to corrupt governments or individuals should be held accountable -– they should be obliged to attempt to retrieve it, not the impoverished countries, which had never benefited from the money in the first place.  It was Parliaments who ratified financing agreements for development, another speaker noted.  They could monitor the proper development financing.  Debt, democracy and development were linked.  It must be determined who was responsible for the deterioration of trade.  Official development assistance was an integral part in any vision of sustainable development.  Without it, the kinds of support needed would not happen. 

M.P. Tjitendero, Speaker, National Assembly, Namibia, Inter-parliamentary Executive Committee, chaired the meeting and made introductory remarks. 

Tomorrow at 10 a.m. and 3 p.m., continuing the Conference’s parallel events, a Meeting of Mayors on the theme of “city to city cooperation” will be held.

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