İstanbul venue for ‘making globalization work’ for LDCs

"Pursuant to Turkey's growing interest in global problems and its desire to extend its support to the LDCs, it was decided upon the proposal of Turkey that the annual ministerial conference on 'Making globalization work for the LDCs' organized on a regular basis by the UN be held in Turkey," the Foreign Ministry said in a brief statement while also noting that the conference will address the issues of trade and investment, energy, technology and agriculture.

In the draft "İstanbul Declaration" of the conference obtained by Today's Zaman, participants reaffirm their commitment to the Program of Action for the LDC for the Decade 2001-2010, adopted in Brussels in May 2001 at the third UN Conference of LDC.

The declaration "notes with concern that LDC[s] face special difficulties in responding to the central challenge of globalization that is to ensure that globalization becomes a positive force for all," while recalling that the Brussels Program of Action provides a framework for a strong global partnership to enable LDCs to integrate beneficially into the global economy.

The İstanbul Declaration, titled "Time for Action," expresses determination to implement the Brussels Program of Action without further delay.

"We recognize the ongoing process of globalization and interdependence is potentially a powerful and dynamic force that can contribute to growth, poverty eradication and sustainable development. It is however of great concern to us that while some countries have benefited from globalization; the LDCs remain marginalized in the globalizing world economy," it says, stressing the need for a fair globalization and open, equitable, rule-based, predicable and non- discriminatory multilateral trading and financial systems that benefit all countries in pursuit of sustainable development, particularly the LDCs.

"We call upon the development partners to channel increased foreign direct investment to the LDCs to support their development activities and to enhance the benefits the can derive from such investments, particularly an the areas of capacity building, technology transfer, building and developing infrastructure, entrepreneurship development, employment generation and poverty alleviation; we call upon developed countries that have not already done so and developing countries in a position to do so to provide immediate, predictable, duty-free and quota-free market access on a lasting basis to all products originating from all LDCs," it goes on.

The declaration voices a strong warning to the development partners to fulfill their commitments, particularly those made to LDCs following major UN conferences and summits in the economic, social and related fields, so as to allow LDCs to achieve socioeconomic development and beneficially integrate into the global economy.