Market Access Is Vital, But Not Enough
It is important to recognise that the issues facing LDCs and middle-income developing countries differ significantly. For the middle-income countries, the primary issue is market access. Many of the world’s poor live in these countries, and so market access alone can have significant poverty-reducing effects in these countries. However, for the least-developed countries, the principal problem is not market access, but lack of production capacity to achieve new trading opportunities. This is recognised by paragraph 42 of the Doha Development Agenda:
“We recognize that the integration of the LDCs into the multilateral trading system requires meaningful market access, support for the diversification of their production and export base, and trade-related technical assistance and capacity building.“
So whilst the further development of middle-income countries, and in particular the tackling of rural poverty in these countries, can be achieved most importantly through increased market access in agriculture, lower-income countries need additional help, not only to take advantage of new opportunities, but to be able to adapt to changing conditions due to the loss of preferences. This additional help must take three main forms: support for developing-country agricultural production; support for participation in trade; and support for good policies and good governance.
Read more about this topic: Trade And Development
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