Latest news

Landlocked developing countries account for 1% of world trade

27.02.2024 | 23:17 |
 Landlocked developing countries account for 1% of world trade

A special event for landlocked developing countries (LLDCs) was held on the sidelines of the 13th Ministerial Conference of the World Trade Organization in Abu Dhabi.

The meeting of trade ministers from these countries was aimed at sharing best practices in overcoming the challenges and trade barriers facing their economies, as well as discussing opportunities for further integration of LLDCs into global and regional trading systems.

In particular, the Permanent Representative of the Republic of Kazakhstan to the WTO and international economic organizations, Zhanar Aitzhan, said that the share of LLDC countries in global trade in goods is 1% and more than 80% of their exports are in primary goods. In this regard, she noted the diversification of the economies and export structures of landlocked countries as general key priorities.

In addition, it was noted that currently the share of LLDCs in international trade in services is 0.75%, while the share in trade in digital services is 0.2%.

At the end of the event, LLDCs adopted a ministerial declaration, which notes the importance of full implementation of the WTO Trade Facilitation Agreement, calls for continued cooperation with transit countries, and emphasizes the importance of digitalization of customs procedures, e-commerce, foreign direct investment and exports of services. LLDC Ministers also reaffirmed their commitment to participate in the Third UN LLDC Conference, which will take place on 18-19 June 2024 in the capital of Rwanda, Kigali.



Read also: