Business News of Friday, 25 April 2008

Source: GNA

UNCTAD member-states pledge immediate bolstering global food security

Accra, April 25, GNA - Member states of United Nations Conference on Trade and Development (UNCTAD), on Friday pledged to take immediate steps to bolster the food security situation facing the world in general and less developed countries in particular.

"We will pay special attention to the food and nutritional needs of mothers and children - care would be taken to ensure that trade in food products is not unnecessarily inhibited.

"In the medium to long term we will support national efforts towards increased food production, especially in Africa, LDCs and net food-importing developing countries," it said. This was contained in an 18-point Accra Declaration released at the end the UNCTAD XII.

The Accra declaration came after five days of deliberations on the challenges of globalization and how to make it work for both the developed and developing world. The world food crisis was high on the agenda.

In it, the UNCTAD member-states also stated that, "we recommit ourselves to redouble efforts to combat poverty and hunger and pledge to take immediate steps to bolster the world's food security." They also pledged to immediately take all necessary measures to meet urgent humanitarian needs in developing countries, particularly least developed countries (LDCs) and Africa.

It said those efforts needed to be accompanied by collective measures at the global level and an enabling environment, particularly by meaningful reform and liberalization of trade in agriculture and improved official development assistance (ODA) flows to the agricultural sector of developing countries.

"We also welcome the decision of the Secretary-General of the United Nations to establish a high-powered task force, comprised of eminent experts and leading policy authorities, to address the food security issue," it said.

They noted that at the current trend the Millennium Development Goals (MDGs), poverty reduction target was within reach at the global level and for most regions, adding however that due to rising food and energy, among other things, some regions were still not on track to achieve the MDGs.

"The projected shortfalls were most severe in Sub-Saharan Africa," it said. "This has the potential to decelerate global and developing countries growth and undermine gains from The member-states therefore called on the global community to remain vigilant to ensure that "our economic policies and the work of UNCTAD promote inclusive growth that will help less developed countries (LDCs) attain and sustain the internationally agreed development goals, including the MDGs."