Third United Nations Conference on the Least Developed Countries, Brussels Declaration, 2 July 2001

Sectors : Debt relief, Aid volume, Investment, International trade: market access, subsidies and aid for trade, Sustainable development
Date made: 
2001
Level: 
Ministerial

Commitments

Commitments in: Financing for Development - Debt relief

“9. We are concerned with the external debt overhang that affects most LDCs and remains a main obstacle to their development. We affirm the commitment to provide the full financing and the speedy and effective implementation of the enhanced HIPC Initiative, which is essential for freeing domestic budgetary resources for poverty reduction. We undertake to make expeditious progress towards full cancellation of outstanding official bilateral debt within the context of the enhanced HIPC Initiative. We also undertake to provide debt relief to post conflict countries within the flexibility provided under the HIPC framework. The debt sustainability of LDCs, including non- HIPC LDCs, will continue to be subject to review, and consideration may be given to granting a moratorium on debt service payments in exceptional cases”

Scope: 
International

Commitments in: Financing for Development - Aid volume

“8. We affirm, also in this context, that official development assistance (O DA) has a critical role to play in support of LDC development. We take upon ourselves not to spare any effort to reverse the declining trends of ODA and to meet expeditiously the targets of 0.15% or 0.20% of GNP as ODA to LDCs as agreed. We undertake to improve aid effectiveness and to implement the OECD-DAC recommendation on untying ODA to LDCs.”

Scope: 
International

Commitments in: Private Sector development and financial services for the poor - Investment

“7. We recognise that the most important financing of development comes from domestic resources, and that foreign direct investment is also an important source of capital, know -how, employment and trade opportunities for LDCs. In this regard we emphasise the need for an enabling environment for savings and investment, which includes strong and reliable financial, legal and administrative institutions, sound macro-economic policies and the transparent and effective management of public resources in order to help mobilise both domestic and foreign financial resources. We commit ourselves to seizing the opportunity of the Conference on Financing for Development in March 2002 in Monterrey, Mexico for the mobilisation of resources for development, in particular for the LDCs.”

Scope: 
International

Commitments in: Trade - International trade: market access, subsidies and aid for trade

"6. We believe that increased trade is essential for the growth and development of LDCs. A transparent, non-discriminatory and rules -based multilateral trading system is essential for LDCs to reap the potential benefits of globalisation. The accession of LDCs to the WTO should be encouraged and facilitated. We commit ourselves to seizing the opportunity of the fourth WTO Ministerial meeting in Doha in November 2001, to advance the development dimension of trade, in particular for the development of LDCs. We aim at improving preferential market access for LDCs by working towards the objective of duty-free and quota-free market access for all LDCs´ products in the markets of developed countries. Measures will also be taken to address problems caused by supply-side constraints. The crucial importance of trade and economic growth must be reflected in poverty reduction strategies.”

Scope: 
International

Commitments in: Environment - Sustainable development

“We, the Governments participating in the Third United Nations Conference on the Least Developed Countries...

...Guided by the principles set out in the Millennium Declaration and its recognition that we have a collective responsibility to uphold these principles of human dignity, equality and equity and to ensure that globalisation becomes a positive force for all the world’s people, we commit to working for the beneficial integration of the least developed countries into the global economy, resisting their marginalisation, determined to achieve accelerated sustained economic growth and sustainable development and eradicate poverty, inequality and deprivation...

...Having adopted a Programme of Action for the Least Developed Countries for the decade 2001-2010,

Declare that:

...5. We also emphasise that improving the welfare of people is an indispensable requirement for sustainable development. We have to strive to fully achieve the goals and objectives set out in the Rio Declaration in particular, as regards combating desertification, preservation of biological diversity, supply of safe drinking water and climate change in accordance with common but differentiated responsibilities.”

Scope: 
International