缅北禁地

The COVID pandemic dealt a blow to the integration of least developed countries (LDCs) into global markets, as the value of their exports fell more sharply than those of other countries and their share of global trade shrank. Due to the mix and destination of their exports, the 16 graduating LDCs experienced an even steeper decline as global supply chains halted and mineral prices collapsed. A widespread move during the pandemic towards digital trade, e-commerce and teleworking, which cushioned the economic shock in many countries, was slower and more difficult in LDCs with weaker digital infrastructure. As a result, the SDG target 17.11 of expanding LDCs’ share of world exports to at least 2 per cent by 2020 was missed. In this context, it seems natural to question whether the goals set out in the Istanbul Programme of Action (IPoA) (2011-2020) aiming for half of LDCs to meet graduation criteria could be achieved, and whether LDCs current focus in the multilateral trading system requires a fresh perspective. The answer to these depends on the value for LDCs of existing preferential market access schemes and the alternatives looking forward. This short note argues that while such schemes offer value for some members, there are untapped gains for LDCs in areas where their negotiating effort and political goodwill can potentially lead to much higher returns.