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Why it is time for a “Global Value Chains for Least Developed Countries Initiative”

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  • Ari Van Assche

Abstract

A central message that came out of the 8th UNCTAD World Investment Forum was the urgent need for innovative solutions to facilitate the integration of least developed countries (LDCs) in the global trading system. In this article, I suggest that the international community should consider implementing a “Global Value Chains for LDCs Initiative” as an integral part of such a solution package. This initiative proposes to make the value added exports of LDCs exempt from duties throughout their entire journey along global value chains. I discuss the mechanisms through which this initiative enhances the attractiveness of integrating LDCs into global value chains. Furthermore, I elaborate on how it can foster the creation of new metrics related to Sustainable Development Goals, encouraging corporate engagement in incorporating LDCs in their supply chains. Overall, the initiative proposes new pathways through which the global trading system can boost the involvement of LDCs in the global economy.

Suggested Citation

  • Ari Van Assche, . "Why it is time for a “Global Value Chains for Least Developed Countries Initiative”," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.
    • Handle: RePEc:unc:tncjou:116
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    References listed on IDEAS

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    1. Ari Van Assche & Kristin Brandl, . "Harnessing power within global value chains for sustainable development," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.
    2. Ito, Tadashi & Aoyagi, Takahide, 2019. "Did the least developed countries benefit from duty-free quota-free access to the Japanese market?," Japan and the World Economy, Elsevier, vol. 49(C), pages 32-39.
    3. Mora, Jesse & Olabisi, Michael, 2023. "Economic development and export diversification: The role of trade costs," International Economics, Elsevier, vol. 173(C), pages 102-118.
    4. Ngoc Thien Anh Pham & Nicholas Sim, 2020. "Shipping cost and development of the landlocked developing countries: Panel evidence from the common correlated effects approach," The World Economy, Wiley Blackwell, vol. 43(4), pages 892-920, April.
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    6. Flentø, Daniel & Ponte, Stefano, 2017. "Least-Developed Countries in a World of Global Value Chains: Are WTO Trade Negotiations Helping?," World Development, Elsevier, vol. 94(C), pages 366-374.
    7. Evdokia Moïsé & Silvia Sorescu, 2013. "Trade Facilitation Indicators: The Potential Impact of Trade Facilitation on Developing Countries' Trade," OECD Trade Policy Papers 144, OECD Publishing.
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