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Trade can play an important role in promoting economic development, but LDCs face many challenges in their development efforts, reducing tariffs on LDC products would help.
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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Overview In response to the Doha ministerial declaration exhorting industrialised countries to improve access for exports originating from least developed countries (LDCs), the Australian Government is considering removing all remaining tariffs on goods that originate in the 49 LDCs. Although more than 10 per cent of the world's population live in LDCs, these countries account for less than 0.5 per cent of world trade. LDCs account only for a small proportion of Australia's total imports. In 2001-02, Australian imports from LDCs were valued at A$242 million (0.2 percent of all imports). The leading suppliers were Bangladesh and Burma (mainly clothing), Yemen (mainly petroleum products), and Samoa (mainly automotive components). Trade can play an important role in promoting economic development, but LDCs face many challenges in their development efforts. These include: * a reliance on primary products and a small number of manufactured products, especially in labour-intensive textile, clothing and footwear (TCF);...
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