Foreign Minister AK Abdul Momen has requested financial and technical support to enable Least Developed Countries (LDCs) to produce Covid-19 vaccines and other life-saving drugs.
“Significant transfer of technology, access to aid for trade, exemption from intellectual property rights so that LDCs can produce Covid-19 vaccines and other life-saving drugs,” he said.
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The foreign minister made a statement practically at the United Nations headquarters in New York on Thursday, a press release from the Foreign Office said yesterday.
Momen was the keynote speaker during the thematic debate on strengthening international trade and regional integration for LDCs.
The Minister of Foreign Affairs stressed the importance of providing support to outgoing LDCs, including providing them with continued LDC-specific support for 12 years after graduation.
He called on United Nations Member States, developed and developing countries, to help outgoing LDCs achieve a smooth and sustainable graduation.
Momen said that although the Istanbul Program of Action for the LDCs announced its goal in 2011 to double the share of LDCs in world trade within a decade, unfortunately in the past 10 years, the share of LDCs in world trade. instead, world trade has declined.
The Minister of Foreign Affairs stressed the need for South-South and triangular cooperation in the field of trade and technological cooperation for the benefit of LDCs.
He also highlighted the catalytic role Aid for Trade can play in helping LDCs while making reference to the current Covid-19 pandemic and its impact on the economies of LDCs.
Referring to the sharp decline in LDCs’ revenues from the service sector during the pandemic, he urged support to LDCs in the area of digital infrastructure, especially e-commerce.
Momen also called for the immediate implementation of all decisions of WTO ministerial meetings in favor of LDCs, including the removal of non-tariff barriers and various standards-related barriers.
He stressed the importance of technology transfer to LDCs, as provided for in WTO rules to bridge the digital divide between developed countries and LDCs.