Matekane calls for stronger trade cooperation

Prime Minister Sam Matekane has called for enhanced cooperation between transit countries and landlocked developing nations to facilitate market access and drive economic growth.

Matekane said this yesterday during the fourth International Conferencing on Financing for Development (FFD4), held in Seville, Spain.

He also highlighted challenges faced by landlocked countries like Lesotho.

“The fourth International Conference on Financing for Development (FFD4) comes at a critical time, when the world is grappling with the adverse effects of climate change, financing challenges, limited fiscal space and persistent trade barriers. 

“The concomitant result of this situation in Africa is characterised by rife indebtedness thus, pushing us into abject poverty. This makes it difficult for these countries to achieve the 2030 Agenda and its Sustainable Development Goals (SDGs),” Matekane said.

He urged transit countries to adopt policies that simplify and streamline trade processes, enabling easier access to global markets.

“We reiterate the call to developed and developing countries in a position to do so, to provide full implementation of duty-free, quota-free market access on a lasting basis for all products originating from the leased developed countries (LDCs) as incapsulated in the current outcome document including in the Addis Ababa Action Agenda and the Doha Program of Action for LDCs,” he noted.

The FFD4 summit, he said, presents an opportunity for member states to renew their commitments in addressing this widening financing gap.

While efforts were being made to address these challenges through investing in productive sectors such as agriculture and manufacturing, the effects of climate change and protectionist trade policies, only compound the already existing burden, thus, impeding progress. 

“We therefore, join the call on development partners to continue to honour their ODA (Official Development Assistance) commitments. We further encourage them to commit to multi-year cooperation agreements that provide more stable and predictable funding in the form of grants,” he urged.