Dhaka Declaration

The Dhaka Declaration is a blend of a recital of failed commitments on the part of the developed world to liberalise trade for the LDCs and an impassioned call for the industrialised North to abide by 'binding commitments' from this point on to offer equitable trade terms to the LDCs. The trade ministers have rephrased the familiar demand for duty-and quota-free access of all their products to the developed markets: they want it "on secure, long-term and predictable basis with realistic, flexible and simplified rules of origin to match the industrial capacity of LDCs to raise their market share in world trade." Not only is the focus on free movement of goods on a durable basis but also on migration of labour from LDCs to the developed world in an unfettered manner. The integrated framework is sought to be strengthened by adequate funding from the industrialised countries so as to enable the LDCs to overcome their supply side constraints and expand their export bases.

There is an expression of solidarity with the African LDCs affected by subsidies on cotton provided by developed countries and an endorsement of remedial actions initiated by some African LDCs in the WTO.

Tap here to add The Daily Star as a trusted source

That the world trade regime is heavily tilted towards the industrialised world is proven by one fact, if any proof is needed: the LDCs' share in the global trade has been on a continual decline since the 'sixties. This goes to basically underline the difference between what have been touted as commitments and what basically are rhetoric. What is of the essence here is the lack of political will on the part of the developed world; unless that is forthcoming, equitable trade will remain a far cry. If they can summon enough political will to build a just economic order, the LDCs will not be wanting in bringing about the required reforms.