Issues surrounding global trade regulations and LDCs have gained a lot of media and policy attention thanks to the recently collapsed
Doha Round of
World Trade Organization (WTO) negotiations being termed a development round. During the WTO's
Hong Kong Ministerial, it was agreed that LDCs could see 100 percent duty-free, quota-free access to U.S. markets if the round were completed. But analysis of the deal by NGOs found that the text of the proposed LDC deal had substantial loopholes that might make the offer less than the full 100 percent access, and could even erase some current duty-free access of LDCs to rich country markets. Dissatisfaction with these loopholes led some economists to call for a reworking of the
Hong Kong deal. Chiedu Osakwe, as of 2001 the Director, Technical Cooperation Division at the Secretariat of the WTO, and adviser to the Director-General on developing country matters, was appointed as the WTO Special Coordinator for the Least Developed Countries beginning in 1999. He worked closely with the five other agencies that together with the WTO constitute the Integrated Framework of action for the Least Developed Countries. They addressed issues of market access, special and differential treatment provisions for developing countries, participation of developing countries in the multilateral trading system, and development questions, especially the interests of developing countries in competition policy. At the
28th G8 summit in
Kananaskis, Alberta, Canadian Prime Minister
Jean Chrétien proposed and carried the Market Access Initiative, so that the then 48 LDCs could profit from "trade-not-aid". Additionally, the United Nations
Sustainable Development Goal 14 advocates for an effective special and differential treatment of LDCs as integral parts of WTO fisheries subsidies negotiation.
Market access preferences Several countries grant preferential access to least developed countries. For instance, the
European Union has implemented the
Everything but Arms scheme, while
Switzerland offers free access to its market for all products to LDCs. Access to the Japanese market is also free for LDCs. Effective 1 December 2024, China eliminated tariffs for goods imported from all of the countries that the United Nations categorizes as least developed and with which China has
diplomatic relations. Thirty-three of the countries benefiting from the agreement are in
Africa and the non-African countries receiving zero tariff treatment are
Yemen,
Kiribati, the
Solomon Islands,
Afghanistan,
Bangladesh,
Cambodia,
Laos,
Myanmar,
Nepal, and
East Timor. == List of countries ==