Competitive Exams: Current Affairs 2011: Delhi Declaration

Delhi Declaration

The Delhi conference was a preparatory event for the forthcoming Istanbul conference.

The Delhi Declaration highlighted the conference's theme on Harnessing the

Positive Contribution of South-South Cooperation for Development of Least

Developed Countries. Calling upon the international community to express its highest commitment for supporting the Istanbul conference, it stressed that the world needs to accord its highest priority to the cause of LDCs for ensuring peace, security and prosperity.

India's first Prime Minister Jawaharlal Nehru had observed so aptly: Peace is said to be indivisible, so is freedom, so is prosperity now, and also is disaster in this one world that can no longer be split into isolated segments.

The Delhi Declaration listed the LDCs'demands and suggestions pertaining to the

Doha Round, food security, climate change, and co-relation between South-South cooperation and North-South cooperation along the expected lines.

In an exceptionally important paragraph, the declaration indicated that the LDCs want the world to adopt a comprehensive approach for creating an effective solution to the development challenges faced by them. Obviously they need more financial resources, but they expect much more of other kinds of assistance too, which would augment their productive capacity, institutional strength and policy space to lead their respective national development processes.

India's approach

India's policy approach is welcomed by the LDCs. They are, however, clamouring now for a New International Support Architecture NISA. Our economic and foreign affairs experts should reflect on this and come up with fresh inputs for government's consideration.

There can be several important components of cooperation: Duty free and quota free treatment to imports from the LDCs, expanded capacity building and technical cooperation under the ITEC programme, cumulative value of previous loans to the

LDCs amounting to $4.3 billion, additional LOCs of $500 million for next five years, and a special fund of $5 million for follow-up actions in regard to the Istanbul conference. Total investment by Indian public and private sector companies in the

LDCs now stands at $35 billion. India's annual imports from the LDCs are valued at $10 billion at present.

LDCs, together with other small island states and land-locked countries, account for about 100 out of 192 members-states of the U. N. Clearly they represent a very important constituency. The development experience of some of the emerging economies such as India is of greater relevance to the LDCs.

Courtesy: The Hindu and Times of India