Luanda – Angola defended Friday in Geneva, Switzerland, at the 74th Executive Session of the Committee on Trade and Development, the urgent need to adopt measures and investments to accelerate the progress of the Least Developed Countries (LDCs), as provided in the Doha Programme of Action.
In the statement presented during the event held from November 20 to 23, the Permanent Mission of Angola to the United Nations and other International Organizations called for the need to help the LDCs recover from recent shocks and strengthen their capacities to resist future shocks.
Angola also welcomed the organization’s ongoing work to help LDCs formulate in-depth strategies to strengthen productive capacities, drive structural transformation, poverty reduction and inclusive economic growth.
Angola endorsed the statement by Tanzania, on behalf of the G77 and China, in which Namibia, on behalf of the African Group, and Nepal, on behalf of the LDC Group, thanked the secretariat for the timely and comprehensive report on the activities carried out by the United Nations Conference on Trade and Development (UNCTAD) in support of the implementation of the Doha Programme of Action for the LDCs.
Angola: pilot country for holistic support programme
Angola, with the support of the European Union (EU-UNCTAD) Joint Programme called Train for Trade II, financed by the European Union, became the pilot country for the holistic, multi-sectoral and multi-annual support programme aimed at promoting productive capacities and structural transformation.
According to the statement that ANGOP had access to, the Holistic Programme supports the diversification of the Angolan economy and its exports, in line with the Angolan government's priorities.
The Holistic Programme is also helping the Angolan government to develop national strategies and legal frameworks and to implement a series of economic and fiscal reforms to improve the business environment and promote sustainable investment.
The statement stresses that Angola's programme and their successful result underlines the need for holistic interventions to address the socio-economic challenges facing the LDCs.
It adds that adequate and predictable funding for both the LDCs and UNCTAD is extremely important for the sustainability and long-term impact of this programme.
The Permanent Mission of Angola said Angola's graduation to Middle Income Country status was scheduled for February 2024. However, the multiple and simultaneous ongoing crises led to macroeconomic and structural challenges that continue to hamper the country's economic and social development.
It explains that the Angolan government activated the Enhanced Support Mechanism provided by the Doha Programme of Action (DPoA) and began political consultations with the Committee for Development Policy (CDP) to jointly analyze and study the best ways to support the graduation process.
However, adds the statement , the CDP said Angola is no longer eligible to be recommended for graduation due to the fact that it has lost the graduation criteria.
On the basis of the CDP report and ongoing consultations, the Economic and Social Council (ECOSOC) recommended on June 7 this year that the General Assembly should postpone Angola's graduation, the statement said.
It adds that Angola took note of the memorandum of understanding between UNCTAD and the Secretariat of the African Continental Free Trade Area, which aims to strengthen partnerships to maximise trade, investment and develop opportunities for African countries.
Angola supports the six policy recommendations addressed to the Trade and Development Council, including the need to step up efforts to help LDCs face the current and emerging challenges arising from many of today's problems.
Angola said it took the opportunity to reiterate its appreciation for the support that UNCTAD and the European Union have been given to the country through a comprehensive package of technical and financial assistance to improve human and institutional capacities, promote an appropriate economic diversification policy in the country and help it to build a more resilient economy until it actually graduates.
One of the objectives of the 74th Executive Session of the Trade and Development Committee was to analyse the report on the activities carried out by the UNCTAD in accordance with the Doha Programme of Action for the Least Developed Countries.
VM/MRA/AMP
