Joint LDC Statement

High-Level Round Table 8: Supporting Sustainable & Irreversible Graduation from the LDC Category, 9th March 2023

Statement by on behalf of the three countries: Lao PDR, Bangladesh and Nepal

Delivered by: Mme. Phonevanh Outhavong Deputy Minister of Planning and Investment

 · Excellencies Mr. Chair/Md. Chair

· Distinguished, ladies and gentlemen.

· A very good morning to you all

I have the honour to represent delegation of Bangladesh, Nepal and my country, Lao PDR to highlight some main points of the joint statement of the joint side event entitled 'Sustainable and Smooth Transition for the graduating cohort of 2021' organized on 5 March 2023 as follows:

As the Graduating Cohort of 2021, we, the Government of the People's Republic of Bangladesh, the Government of Lao People's Democratic Republic, and the Government of Nepal underline our common commitment to sustainable and inclusive national development despite the challenging circumstances.

1. Therefore, we call upon the international community and development partners for:

     a.Continued partnership, cooperation and international support to formulate and implement strategies in the areas of fostering structural transformation, improving competitiveness of domestic

         producers, reducing digital divide and promoting international trade and foreign investment during and beyond graduation.

     b. Continuation of International Support Measures beyond graduation, for which a formal submission has been made to the World Trade Organization (WTO) for consideration, including     

          preferential market access and TRIPS waivers, particularly for pharmaceutical products for combating public health-related challenges and pandemics.

     c. Mobilization of international support to promote export diversification both in terms of commodities and markets, and advocate for necessary support for recently graduated countries,

         including through WTO processes.

     d. Providing easy and flexible access to climate mitigation and adaptation finance on a concessional basis, including in the context of loss and damage, and continuation of technology

         transfer to LDCs after their graduation, as emphasized through the Conference of the Parties (CoP) process.

     e. Ensuring technical assistance to support Public Finance Management reforms, notably to fill data and infrastructure gaps with regard to a large informal sector, and capacity development

         and modernization of tax administrations.

     f. Continued Official Development Assistance to meet financing gaps for attaining the Sustainable Development Goals and national development priorities and to make a shift towards

        sustainable development practices, noting our collective commitment to the 2030 Agenda for Sustainable Development in 2015.

     g. Post-graduation extension of the waivers in the regional and sub-regional trade agreements and other support measures provided to the graduated LDCs.

     h. Assurance of safe, orderly and regular migration with full respect for human rights and the humane treatment of migrants, regardless of their migration status, easy access to quality

         financial services to lower the transactional cost of remittances, and technical support to ensure remittances can be used for long-term investment in productive sectors, such as micro-,

         small-, and medium-sized enterprises, for economic transformation and job creation in the LDCs.

2. In the context of the shocks to development that the world is contending with, it is incumbent upon all of us to stay the course with the global call to rescue the SDGs and get back on track to building a better world that “leaves no one behind”, and the success of the Graduating Cohort of 2021 in reaching the thresholds for graduation is a major milestone and shows our common commitment to this progress. However, maintaining the progress throughout the transition, and ensuring that the graduation is sustainable and irreversible, requires continued and concerted support measures from the international community and development partners along with our collective endeavour and commitment to implementation of the Doha Programme of Action.

Thank you.