This note is a follow-up to the AITIC pre-UNCTAD XII Background Note of April 2008 [note 1]. It provides an overview of what took place in Accra, Ghana, where the Conference was held. Up until the penultimate day of the Conference, delegations were locked into resolving some of the remaining controversial areas of the main negotiated outcome document, the Accra Accord. Among the issues where a last-minute compromise was achieved were “policy space”, “good governance”, how to deal with the new emerging issues, such as climate change and above all, on reforming the institutional machinery of UNCTAD. The note provides an overview of the highlights and most important outcomes of Conference: the Accra Declaration, embodying the spirit of Accra and the Accra Accord which spells out UNCTAD’s next quadrennial work plan. Unlike its predecessor document, “The Spirit of São Paulo”, which was a negotiated text, the Accra Declaration was prepared under the responsibility of the host government, Ghana, with delegations given a timeline to suggest text alternatives. As was the case in São Paulo, many on- and off-site parallel events took place simultaneously. Given the presence at Accra of so many Trade Ministers, a number of bilateral meetings were held to discuss progress in the Doha negotiations. The soaring food and energy prices and the instability in international financial markets were overriding concerns at Accra.

I. Introduction and Statements

1. The twelfth session of the United Nations Conference on Trade and Development (UNCTAD XII), u nder the general theme “ Addressing the Opportunities and Challenges of Globalisation for Development ”, attracted over 4,000 participants from governments, international organisations and civil society, including representatives from the private sector in Accra from 20-25 April 2008.

2. The United Nations Secretary-General Ban Ki-moon opened the Conference, followed by President Luiz Ignácio Lula da Silva of Brazil (host of the previous Conference) and President John Agyekum Kufuor of the host country Ghana. In his opening statement [note 2], Mr Ban Ki-moon stated that despite impressive growth in recent times, the world faced a “development emergency” with pressing needs of the “bottom billion” of the poorest people. He identified the current difficulties facing the international community: the sky-rocketing food and oil prices, the widening gap between the rich and the poor, climate change, etc. All these challenges made it imperative to re-think the strategies to meet the Millennium Development Goals (MDGs). He announced the setting up of a new high-powered task force of eminent experts and leading policy authorities to coordinate a global response to the issue of soaring food prices from the UN system, World Bank and the IMF. “UNCTAD is perhaps our best hope for working together in global partnership for development,” Mr Ban Ki-moon affirmed. “More trade, not less” could provide solutions, he suggested, adding it was time for wealthier nations to “rethink old-fashioned programmes of agricultural subsidies”.

3. President Lula in his address [note 3] said that UNCTAD XI, which took place in São Paulo in 2004, had strengthened the role of the Conference as the main UN body dealing with trade and economic issues from a development perspective. It had also introduced the innovative concept of “space for national policies”, an expression that illustrated the essence of the challenge of assigning priorities between domestic policies and international commitments. President Lula said the formation of the Group of 20 (G-20) in the WTO was a reflection of the changing geography of world trade and illustrated how a group of developing countries coalesced to seek the elimination of the distortions that affect agricultural trade.

4. President Kufuor in his remarks [note 4] said that the peoples of the world, especially the millions of deprived populations of developing nations, expect definitive time-bound actions that will impact positively on the quality of their lives. The era of colonialism had been described as the first wave of globalisation, and it was no secret that it had helped build the economies of the colonial powers while seriously compromising Africa’s development. In his opinion, on the threshold of its second wave, globalisation must be driven by a high moral imperative to ensure that it did not leave any scars or losers in its wake.

5. Following the inaugural addresses, the first plenary meeting elected Joe Baidoo-Ansah, Minister for Trade and Industry of Ghana, as President of UNCTAD XII by acclamation. It also elected Petko Draganov (Bulgaria), President of the Trade and Development Board and Chair of the Preparatory Committee for UNCTAD XII, as Chairman of the Committee of the Whole. Qatar’s offer to host UNCTAD XIII in 2012 was announced by Finance Minister Yusef Hussein Kamal.

II. The Accra Declaration and the Accra Accord

6. Discussions in the Committee of the Whole continued until the penultimate day of the Conference when a “finely balanced” compromise was achieved on the main negotiated text, the Accra Accord, which outlines UNCTAD’s priorities during the next four years. Delegations presented their national positions in the general debate. The main outcomes of UNCTAD XII are encapsulated in two documents: The Accra Declaration and the Accra Accord.

A. The Accra Declaration

7. The Accra Declaration [note 5] is a general statement of intentions and stocktaking of developments since UNCTAD XI in Sao Paulo. It is a political and consensual document which reiterates UNCTAD members’ priorities, including making trade and trade-related policies contribute to developing countries’ economic growth and focus on the poorest countries which have been at the margins of the globalisation process. UNCTAD members reiterated their commitment to free trade, but also vowed to rethink current strategies that have failed in reducing global poverty and the achievement of the MDGs by 2015. The Declaration states that:

● Most developing countries, especially African ones and LDCs, remain marginalised from the globalisation process and are lagging behind in the achievement of the MDGs. Their development will continue to be a key priority of the international community.

● In the medium to longer term, the outcome of UNCTAD XII will make a contribution towards a more equitable distribution of the benefits of globalisation through trade, finance and investment. Members will support national efforts towards increased food production, especially in Africa, LDCs and net food-importing developing countries (NFIDCs). These efforts need to be accompanied by meaningful reform and liberalisation of trade in agriculture and improved ODA flows to the agricultural sector of developing countries.

● Members will commit to finding integrated solutions to combat poverty and hunger and to take immediate measures to bolster international food security, to ensure that trade in food products is not unnecessarily inhibited and to support national efforts to increase food production, particularly in Africa and the net food-importing developing countries (NFIDCs).

● Rising food prices and agriculture input costs reflect an emerging new global commodity economy. These developments also present a unique opportunity to promote economic growth and sustainable development by improving the productivity of the commodity sectors of developing countries.

● A new phase of globalisation has emerged in which some developing countries play an important role as regional and global new and additional engines of trade and investment of the global economy. The potential of South–South cooperation “should be fully harnessed as a real complement to, and not a substitute for, North–South cooperation”.

● The outcome of the Doha multilateral trade negotiations should guarantee balanced and equitable market access that would have a fundamental benefits for development. Duty-free and quota-free market access for LDCs, as agreed at the Hong Kong Ministerial Conference of the WTO should be implemented, as should other commitments made on issues of importance to African LDCs, such as cotton.

● UNCTAD members request more solid Aid for Trade (AFT) to bolster domestic productive and competitive export capacities and trade-supportive logistics in particular for the less-advantaged countries, including those in Africa, the, LDCs, the LLDCs, the Small Island Developing States (SIDs).

● To seize opportunities for foreign direct investment (FDI), countries need to have a well-structured policy framework of active and well-sequenced strategies.

● As a complement to national development policies, the urgent need to enhance coherence, governance and consistency of the international monetary, financial and trading systems is recognised.

● While recognising that development is the responsibility of individual countries national efforts are complemented by an enabling international environment of multilateral rules. Trade-offs between costs and benefits from abiding by international commitments and loss of policy space are for each Government to evaluate.

● Enhancing the role of women at all levels and the importance of competition policies are underscored.

● The trade and development aspects of climate change are recognised as are the risks faced by individual countries. In particular the burden of adaptation to climate change by the poorest countries should receive adequate financial and technological assistance.

B. The Accra Accord

8. While the Accra Declaration sets the political tone, the Accra Accord [note 6] is more specific and action-oriented and constitutes UNCTAD’s work programme for the next four years. The Accra Accord builds upon the outcome of UNCTAD XI and takes note of the new and emerging challenges that are redefining the inter-linkages between trade and development. The Accra Accord is woven around the general theme (covered in the introduction) and the four sub-themes of UNCTAD XII. The first three sub-themes follow a set format of policy analysis, policy responses and UNCTAD’s contribution. Sub-theme 4 relates to strengthening UNCTAD: enhancing its development role, impact and institutional effectiveness.

9. The outcomes of UNCTAD XII were more in the form of “new concepts and understandings” than new projects. The broad consensus that member states of UNCTAD forged in Accra followed six months of intense and often contentious negotiations. At the time the Preparatory Committee for UNCTAD XII in Geneva transmitted to Accra the draft negotiated text it had more than 60 paragraphs still in brackets. All paragraphs referred to below, unless stated otherwise, refer to paragraphs in the final version of the Accra Accord.

10. Members in general were optimistic [note 7] about the outcome of the negotiations embodied in the Accra Accord, and each major player welcomed the final text. The G-77 and China said the agreed outcome texts would not please everyone in all respects, but reflected the reality that both sides of the development equation needed each other. The European Union (EU) called it a “balanced and productive compromise” that provided a good basis for UNCTAD’s work. The EU was particularly satisfied with “the clear focus on Africa and the LDCs”, and welcomed the increased political attention now being given to commodities. The United States described the Accra Accord as “a balanced outcome” reflecting consensus on a “positive, forward-looking document.”

11. A notable contribution at Accra was the endorsement by UNCTAD members of the concept of “enabling State” (paragraph 115) as the framework within which developing countries pursue their development strategies. The enabling State “deploys its administrative and political means [...] for economic development, efficiently focusing on human and financial resources” which should also facilitate the interaction between the public and private sectors. There are a cluster of ideas embedded in this concept including policy space, strategic liberalisation, and policy diversity. They are reflected both in the introduction and sub-theme 1. On policy diversity (paragraph 19), for instance, the text notes that “there is no one precise model for improved, growth-enhancing governance and institutions.” The issue of policy space, which negotiators grappled with for long, finds expression in paragraph 5, whereby “an appropriate balance” is called for between national policy space and international disciplines and commitments. However, “it is for each Government to evaluate the trade-off between the benefits of accepting international rules and commitments and the constraints posed by the loss of policy space”.

12. The related issue of good governance, which was also hotly debated, finds reference in paragraphs 6 and 125. The role of the State and the market are seen as vital for designing and implementing successful development strategies. Good governance and coherence in respect of the trading, monetary and financial system are called for at “all levels” (paragraph 29). The following paragraph notes that “multilateral surveillance,” with reference to short-term capital flows “needs to remain at the centre of crisis prevention efforts and should focus not only on crisis-prone countries but also on the stability of the system as a whole”.

13. Another cluster of issues taken on board at Accra relate to the new and emerging issues in trade and development in the last four years. One is the emergence of the “new South” (i.e. the “advanced” developing countries such as Brazil, China and India) and the growing solidarity between its members through increased South-South links. New opportunities for South-South trade, investment and economic cooperation found clear expression, as highlighted in paragraphs 7 and 52. Accordingly, “South–South economic cooperation complements rather than substitutes North–South cooperation, and can contribute to balanced global growth and development.” This is normally referred to as the new phase or “wave” of globalisation.

14. UNCTAD has been given a strong, renewed mandate on commodities – to be the focal point and to play a key role in re-launching the global commodities agenda (paragraphs 50, 51, 77-79). But the reorganisation of the existing commodities branch into an autonomous unit reporting directing to the UNCTAD Secretary General (paragraph 183) was intensely debated at Accra. How it will unfold will be watched closely. The food and energy security nexus was constantly highlighted throughout the Accra Conference. Commodities have been framed in a new context of the 21 st century, with a strong South-South face, as a result of which there is a new supply-demand equation and new opportunities for exporting commodity-dependent countries. The Task Force appointed by the UN Secretary-General is expected to marshal new ideas and actions. The focus on commodities is also relevant in terms of the increased focus that must be given to the problems of the African continent, all LDCs, the LLDCs, SIDS and other vulnerable economies.

15.  Consensus on the new issues of migration (paragraphs 56, 82 and 122) and climate change (paragraph 58) provide for examination of the development implications. The existing mandates on biodiversity, traditional knowledge and intellectual property issues (paragraphs 84, 85, 105 and 153) have been renewed. On regional trade agreements (RTAs), paragraphs 48 and 66 say they should be WTO compatible and promote sustainable development and poverty alleviation. The importance of GSTP is outlined in paragraph 68.

16. On the multilateral trading system, the text covers a number of issues. Paragraphs 72 and 73 refer to the non-tariff measures (NTMs) and the need for technical assistance and capacity-building support for developing countries in standards and technical regulations. UNCTAD already has a task force working on the identification, classification and quantification of NTMs and work in this area is expected to be further refined and developed. There has been an evolution on competition policy (paragraph 75), whereby developing countries can use voluntary consultation mechanism to seek cooperation with the authorities in developed countries on anti-competitive behaviour of multinational enterprises (MNEs).

17. On AFT (paragraphs 61, 76, 106) the text calls for “Additional, predictable and sustainable and effective-financing” as fundamental to fulfilling the AFT mandate. It states that AFT is needed to support all developing countries, in particular LDCs, to better integrate into and adjust to the world trading system, and to build productive capacity, trade-related infrastructure and competitiveness. It must also “reflect the priorities of beneficiaries and be consistent with their development priorities”.

18. On the DWP negotiations, in paragraph 63, the text notes that “All WTO members should uphold and reiterate their commitment within WTO to promote a well-functioning, rules-based, open, equitable, predictable and non-discriminatory multilateral trading system that promotes development.” The issue of accession to the WTO is dealt with in paragraph 47. The importance of Services is outlined in paragraphs 55, 80, 81 and 82, where modes of special interest to developing countries are underlined.

19. Guidance on FDI is provided in paragraphs 109-114 and 147-148, while priorities for developing the ICT are outlined in paragraphs 120, 137-138. The importance of trade facilitation is highlighted in paragraph 121 and in the context of the transport infrastructure development, the specific concerns of the LLDCs are enunciated in paragraph 141.

20. On the functioning of UNCTAD, an issue that delegates spent considerable time, the changes in the number of Commissions, which are subsidiary bodies of the Trade and Development Board, are reflected in paragraph 202. Accordingly, the work of the existing three commissions [note 8] will now be handled by only two commissions: one relating to Trade and Development and the other to Investment, Enterprise and Development. Guidance on the conduct of expert meetings, held under the auspices of the Commissions, is provided in paragraphs 207 and 208. It has been decided to establish a multi-year expert meeting on commodities. The last paragraph of the Accra Accord, relating to its implementation, notes that the work programme for the next four years “with clearly defined objectives and outputs, including time-frames and expected outcomes”, should be presented to members at the upcoming budget meeting on 16-18 June 2008.

III. Highlights of the Group Meetings

21. In addition to participating in roundtables and several side-events, several groups of Ministers met and decided on their group positions. An overview of some of the group positions, including those of the civil society and the parliamentarians, is presented below.

A. Declaration of the Group of 77 and China (G-77)

22. The Ministerial Declaration [note 9] of the G-77 and China, which now groups 130 developing countries, in addition to raising broad systemic issues, mirrors the concerns of its constituent specific groups of countries. The Group says t he current global institutional architecture for global economic governance requires fundamental reforms to provide an adequate framework for dealing with the realities of today’s international economic and financial relations and to respond to the needs of the vast majority of the poor. It called for progress in enhancing the coherence of the international economic architecture, particularly the interplay of the multilateral trading system and the international financial and monetary systems.

23. The G-77 and China expressed particular concern at the slow progress of the Doha trade talks and said its final results should ensure “fair, equitable and realisable commitments”. Stressing the centrality of agriculture, the G-77 said the basis for a fair and balanced trade in agriculture is the removal of the distortions currently present. Trade-distorting domestic support granted by some developed countries must be effectively and substantially reduced, in accordance with the Doha mandate. The G-77 also expressed concern over the current sub-prime financial and credit crisis and its impact on developing countries’ ability to access credits. It also reiterated the need to meet the agreed targets for official development assistance (ODA) of 0.7 per cent of Gross National Product (GNP) of donor countries and of an additional 0.15- 0.2 per cent of GNP to the LDCs by 2015. A number of other issues raised find resonance in the Accra Accord.

B. Declaration of the Least Developed Countries (LDCs)

24. The Declaration of the LDCs Ministerial Meeting at UNCTAD XII [note 10] urges the trading and development partners to step up support in areas such as ODA, debt relief, market access, FDI and transfer of technology. Particular concern was expressed at the soaring food prices which could trigger major political crises. The LDCs welcomed a “new deal” to tackle the international food crisis which was endorsed by the IMF-World Bank spring meeting of finance and development ministers held in Washington (13-14 April 2008). The Group called for additional aid to increase agricultural production and build infrastructure, including distribution and storage systems.

25. While welcoming the debt relief granted under the Multilateral Debt Relief Initiative (MDRI) and the Heavily Indebted Poor Countries Initiative (HIPC), Ministers noted that all LDCs are not eligible for HIPC and MDRI. All LDC external debts must be cancelled forthwith, without discrimination or conditionalities to help accelerate their economic development and poverty eradication efforts. If current poverty trends continue, most LDCs will not be able to meet the MDGs, particularly poverty reduction goals. LDCs identified a number of promising areas such as the services sector, tourism, non-traditional exports and remittances from nationals abroad. On the other hand, it signalled a number of problems in the process of accession to the WTO, the adverse effect of agricultural subsidies in the industrialised countries and the heavy burden of energy costs. The Group called for respecting of the Hong Kong WTO Ministerial Conference Declaration regarding market access commitments on duty-free and quota-free access on a predictable basis to all products originating from LDCs.

C. Ministerial Communiqué of Landlocked Developing Countries (LLDCs)

26. Building on the Almaty Programme of Action [note 11], the Ministerial Communiqué [note 12] of LLDCs calls on a number of organisations to strengthen their work within their respective mandates, especially in view of the upcoming Mid-Term Review of the Almaty Programme of Action to be held in October 2008. In particular, the LLDC Communiqué underlines the importance of trade facilitation (TF) measures and the need to accord high priority to a technical assistance programme in TF, as stated in the WTO Doha Ministerial Declaration. The communiqué also calls on WTO member States to initiate the provision of assistance as part of the AFT agenda, independent of the final result of the Doha Work Programme (DWP). Priority areas of AFT assistance should include capacity-building for the formulation of trade policies; participation in trade negotiations; implementation of international agreements; strengthening productive capacities; and development of transport and information and communication technologies (ICT) infrastructure for competitive export products of LLDCs.

D. Accelerating the Global System of Trade Preferences

27. The current third round of the Global System of Trade Preferences (GSTP) among Developing Countries negotiations, which envisages a package of substantial trade liberalisation commitments among developing countries, was launched [note 13] in São Paulo at UNCTAD XI. The Ministers of Parties to the Agreement in a communiqué [note 14] issued on 22 April 2008 indicated that they had established the framework for the final phase of the negotiations. Accordingly, they gave the political direction at Accra to complete the negotiations on reducing tariffs in mutual trade of developing countries by end of 2008. The urgency to do that was prompted by the imminent slowdowns in the economies of major industrialised export markets.

E. The Civil Society Forum Declaration

28. The Declaration adopted by representatives of civil society [note 15] is in two parts, the first establishing the global context and the second examining specific issues in each of the Conference sub-themes. It cites the global financial crisis and rising food prices as priority issues to tackle. It noted that if the international community had heeded UNCTAD advice, there might not have been such a crisis today. According to the civil society, a major achievement of UNCTAD XI was the recognition of the importance of policy space. But since then, the policy space has declined further due to loan conditionalities, WTO rules and increasing number of bilateral and regional free trade agreements which lock developing countries into inappropriate liberalisation. The Declaration questions the presumed benefits of FDI and noted that the African continent, with high incidence of poverty, is a net exporter of capital and that MNEs hold much of the value chain in commodities. The Declaration notes that UNCTAD’s role in independent and alternative policy formulation has to be strengthened and not weakened as in recent years.

F. The Message of the Inter-Parliamentary Union (IPU)

29.  The IPU sent a message [note 16] to UNCTAD XII and called for priority attention to be given by UNCTAD delegates to the development challenges faced by the African continent. They expressed support for UNCTAD’s efforts to prompt a move towards a more equitable and development-friendly global economic, trading and financial system. They considered that UNCTAD is uniquely placed to address emerging challenges of high energy prices and climate change on development

IV. Thematic Conference Events

30. It would certainly be too ambitious to endeavour a comprehensive summary of the discussions of the numerous thematic sessions and on- and offsite parallel events. However, some selected priority issues are highlighted, including the nine interactive roundtables which were built around the four main Conference sub-themes.

A. Trade and development for Africa's prosperity – Action and Direction

31. The UN Secretary-General Ban Ki-Moon chaired the debate which featured a panel of Heads of State and Government. He stated that the recently convened MDG Africa Steering Group was preparing detailed recommendations on how success stories could be replicated across the continent. He suggested that in the medium term, a substantial increase in expenditures on agriculture was needed and that trade and investment must help bring about a “green revolution”. President Kufour of Ghana called for a “new deal on Aid, Trade, Investment and Technology” between Africa and its development partners, which must be buttressed on the principles of development solidarity. He said there were lessons to be learned from the economic growth of Brazil, China and India, with which South-South forums had already been established. President Kufour informed participants that he had accepted to be the patron of the African Biofuels and Renewable Energy Fund, an initiative to examine possibilities for a clean energy development in Africa.

32. President Lula declared that Brazil was actively seeking partnerships with commodity-producing countries throughout Africa to enhance their growth and economic development on a path that did not involve subsidies or tariffs. The country’s experience in biofuels could be replicated in many African countries and its production methods did not harm the environment. To tackle malnutrition, pandemics and poverty in Africa, President Lula remarked that living up to commitments on Official Development Assistance (ODA) was essential but alternative sources like the UNITAID [note 17] initiative were also needed.

33. HE Ms Tarja Halonen, President of Finland, said African countries needed support and an exchange of experiences from partners in the North and the South. Education was a key factor in economic competitiveness, she emphasised, adding that education was also the foundation for access to knowledge and innovation. HE Mr Ernest Bai Koroma, President of Sierra Leone, said Africa had a lot of catching up to do and needed bold strategies to redirect investment into areas that boosted key sectors such as infrastructure, technology and agriculture. The starting point for the continent was promoting zero-tolerance polices towards corruption.

34. The Director-General of the World Trade Organization (WTO), Mr Pascal Lamy informed on the current state of the Doha negotiations and drew a “striking parallel” with those of the Uruguay Round in 1993 before its conclusion: the economic environment was marked by protectionist sentiment in the industrial countries, the rise of regionalism and a sluggish performance in the major economies. “Now, as then, it will require courage to strike a deal,” observed Mr Lamy. Politicians realised then that the multilateral trade deal offered something much bigger than the political concerns faced at home. As currently constructed, the multilateral system does not adequately address current problems like climate change, resource depletion, pandemics, soaring food and energy prices, Mr Lamy pointed out. “Whether we look at geopolitics, finance, development, the environment or trade – the rules of the game must be changed if we are to confront these problems effectively.” For the trading system, Mr Lamy said there has been a consensus that it needs to be re-balanced in favour of developing countries. The reform in trading rules was to be done by negotiations. Some of the rules and principles – non-discrimination, transparency and national treatment – represent the foundations of the system and need to be preserved and strengthened.

35. “What is already on the table is worth two or three times the result of the Uruguay Round,” the WTO Director-General asserted, adding that any Doha agreement will be development-oriented as three-quarters of WTO members are developing countries, and they will not accept anything otherwise. Intensive negotiations on agriculture and industrial goods have yielded progress which will hopefully pave the way to a breakthrough. Work is advancing in other areas – services, fisheries subsidies, trade and environment, development-specific measures, trade facilitation – but the focus is now on the final balance between trade-distorting subsidies, agricultural market access, and industrial tariffs. Africa would stand to benefit from the results of the current trade talks, Mr. Lamy said.

36. Mr Kamal Nath, Commerce and Industry Minister of India, recalled that at the India-Africa Forum Summit just held in New Delhi, India had announced a duty-free quota-free trade preference scheme covering all LDCs, in accordance with the WTO Hong Kong Ministerial Decision. Items included in the scheme that were of immediate export interest to LDCs were cotton, cocoa, aluminium and copper ores, cashews and non-industrial diamonds. Mr Nath a lso announced increased technical assistance and capacity building projects for Africa, including a USD 5.5 billion EXIM credit line for implementation of useful development projects in Africa over the next five years. An additional 500 training slots for African experts in India in various fields including IT, entrepreneurship and cooperative banking are to be provided. HE Mr Ahmed Ouyahia, former Prime Minister and Personal Representative of the President of Algeria, observed that the march of globalisation benefited producers of technological goods over those of commodities. An Issues Note [note 18] by UNCTAD analyses some of the essential issues at stake for Africa and another document [note 19] provides a summary of the issues discussed at the high-level event.

B. Sub-theme 1: Enhancing coherence at all levels for sustainable economic development and poverty reduction in global policy-making, including the contribution of regional approaches

37. Two roundtables (1 and 6) were devoted to this sub-theme. In the first roundtable [note 20] on “Globalisation, development and poverty reduction: their social and gender dimensions”, there was general agreement that the issue of income distribution had become central to the globalisation debate, and that social acceptance of globalisation was essential for its sustainability. Several speakers observed that, while more than two decades of market-oriented reforms in developing countries had helped to “get the prices right”, social disparities had increased. A specific element of the roundtable was the gender perspective [note 21]. One panellist estimated that 75 per cent of the world's poor were women and another noted that it was the first time gender issues were taking a central place in the UNCTAD deliberations.

38. Roundtable 6 on “Debt management solutions supporting trade and development” noted that w hile the debt relief situation of developing countries had improved in recent years, there is a real danger that it could deteriorate again, given the current financial turmoil the worsening global economic situation. Therefore, longer-term debt sustainability and continued progress towards the MDGs required further progress in debt management. Participants outlined some work priorities [note 22] and an UNCTAD Note [note 23] provides the background.

C. Sub-theme 2: Trade and development issues and the new realities in the geography of the world economy.

39. Roundtable 3 on “The changing face of commodities in the 21st century” discussed commodity issues [note 24] within the context of increasing commodity prices since 2002. The deliberations [note 25] covered price developments and possible actions in the various commodity sectors: energy (oil and gas), minerals and metals, and agricultural commodities. It also discussed issues related to value added, with particular reference to competition issues and complying with standards. The main areas highlighted included food price increases [note 26], diversification and value added, increasing the level of investment in technology and infrastructure, governance, e quitable distribution of rents, harnessing development gains from windfall incomes, human resource development, ensuring a stable macroeconomic framework, competition issues, food safety and health standards, balance of payments, and enhancing regional economic cooperation.

40. Roundtable 4 on the "Emergence of a new South and South-South trade as a vehicle for regional and interregional integration for development" addressed [note 27] opportunities and challenges [note 28] linked to the dynamic expansion of trade among developing countries and explored ways of strengthening economic cooperation between them in order to maximise trade’s positive impact on development.

D. Sub-theme 3: Enhancing an enabling environment at all levels to strengthen productive capacity, trade and investment: mobilising resources and harnessing knowledge for development.

41. Roundtable 2 on " Creating an institutional environment conducive to increased foreign investment and sustainable development" addressed the main issues [note 29] in enhancing the development dimension of national and international investment policies and building the institutional capacities needed to increase the development benefits that could be derived from investment and enterprise development. The debate [note 30] focused on eight strategic challenges: (i) upgrading the economy, (ii) building business linkages, (iii) overcoming size constraints of small economies, (iv) upgrading infrastructure, (v) increasing systematic competitiveness, (vi) aiding transition economies, (vii) protecting the environment, and (viii) contributing to peace building.

42. Roundtable 5 on “Harnessing knowledge and technology for development” addressed the role [note 31] of knowledge and technology in development, and made recommendations [note 32], identifying specific measures and actions needed at the national and international level to integrate knowledge and technology in development strategies. The keynote address at this roundtable was given by Her Royal Highness Princess Maha Chakri Sirindhorn of Thailand, who gave a moving account of her own experience of how development initiatives can be undertaken even in small projects that can change the living conditions of people in the rural areas.

43. Roundtable 7 on “Developing productive capacities in least developed countries”, noted [note 33] a consensus that productive capacities should be at the heart of national and international policies to promote sustained growth and poverty reduction in LDCs. Among other things, there needs to be a policy shift [note 34] away from just a narrow focus on MDGs to a broader focus on promoting economic growth. It was felt that AFT and the Enhanced Integrated Framework (EIF) should be effective vehicles for developing productive capacities in LDCs. A range of supply-side constraints were identified. These included physical infrastructure, especially energy, transport and communications; poor social infrastructure, especially for health and education; weak financial systems; and insufficient investment in research and development, technological learning and innovation systems.

E. Sub-theme 4: Strengthening UNCTAD: enhancing its development role, impact, and institutional effectiveness

44. Two roundtables (8 and 9) were held on the last day of the Conference on the above subject. Two UNCTAD background papers [note 35] set the context in which these discussions were held. Panellists [note 36] discussed how to strengthen UNCTAD’s development role at both the global and the national levels and how it could best contribute to realising global development partnerships.

F. Cross-cutting Issues

45. The World Investment Forum (18-22 April 2008) explored future developments in FDI flows and the new features of the corporate strategies that are driving the process. Particular emphasis was placed on the new opportunities and challenges for investors, how global value chains and business linkages are evolving and how emerging economies can accelerate the development process through FDI. One of the sessions [note 37] provided an overview of how global value chains were evolving and how emerging economies could use local business linkages to maximise the return to host countries from FDI.

46. The “Creative Africa” initiative, a joint effort by UNCTAD, African artists, the Government of Ghana and Agoralumière International, show-cased the diversity of Africa’s abundant creative talent. A number of cultural activities and policy discussions were organised. As part of this, the Creative Economy Report was launched. This policy-oriented study [note 38] analyses the interface between culture, economics and technology and is the first such comprehensive study.

G. AITIC Events

47. On the eve of the Conference, AITIC organised a high-level meeting on “Trade Facilitation and Aid for Trade: Keys for Unlocking the Landlocked,” in collaboration with the UN-OHRLLS and UNCTAD. The three-hour interactive meeting helped spotlight the potential of the two trade initiatives in the development of LLDCs and prompted useful directions as to next steps [note 39]. In another event, AITIC and the United Nations Industrial Development Organization (UNIDO) signed a mutual cooperation agreement on 25th April 2008 in Accra. Dr Kandeh K. Yumkella, Director-General of UNIDO and Dr Esperanza Durán, Executive Director of AITIC, discussed ways to reinforce trade-related assistance to less-advantaged countries.

V. Conclusion and Some Observations

48. The Accra Conference succeeded in re-affirming and strengthening UNCTAD’s mandate for the next four years. In many ways, the directives in the Accra Accord build on the São Paulo Consensus by adding a number of new and emerging subjects to the existing range of issues that UNCTAD normally deals with. The focus on Africa, not just in the special high-level dedicated event but throughout other meetings where high-level African representatives took active part, was a welcome development. Through its numerous initiatives, especially those involving the private sector in promoting investments, the Conference sent strong impulses to countries in Africa on how to better align trade for development.

49. Also noteworthy is the enhanced role that UNCTAD is supposed to play in moving the commodities agenda forward. In addition to this being particularly relevant to Africa, it will also be relevant to groups like the LDCs, LLDCs, SIDS and other weak and vulnerable economies for which greater UNCTAD focus has been signalled. The clarification of UNCTAD’s specific role and contribution in working with other international organisations which have core competencies in areas such as finance, environment, and intellectual property, among others, will ensure a more focused UNCTAD output on the related trade and development dimensions. While concerns are expressed in some quarters over the compromises reached in trimming the intergovernmental machinery of UNCTAD, implementation of the Accra Accord now is the bigger challenge. If the experience of the next four years demonstrates the need for further changes, such changes would be on the agenda at Qatar in 2012.

50. Finally, beyond what ultimately got reflected in the final outcome text, the relevance of quadrennial UNCTAD lies also in the reflections and debates which touch on some systemic issues. For instance, in numerous meetings, it was underlined that dealing with the rise in food prices was an emergency but also an issue that had to do with long-term investments in agriculture. In a number of areas such as analysing the trade and development implications of climate change, making migration a positive force for development, or taking the lead in finding solutions towards the commodities problematique, the value of UNCTAD’s work lies more in its ”incubator” role. That is, sending the impulses for development-friendly ideas in fields which may have other, specialist organisations principally pre-occupied with such issues. Accra confirmed the role of UNCTAD in expanding the canvas of the development agenda. How the Accra Accord is now implemented will be the test of d evelopment solidarity.

Acronyms

Note 1: See document entitled UNCTAD XII – The Preparatory Process (Twelfth Session of the United Nations Conference on Trade and Development) Accra, Ghana, 20 – 25 April, 2008 available at http://www.acici.org/aitic/documents/notes/note56_eng.htm. (return to text)

Note 2: Opening remarks by the UN Secretary-General at UNCTAD XII, 20 April 2008, http://www.un.org/webcast/unctad/xii/pdf/sg_opening_unctadxii.pdf. (return to text)

Note 3: Statement by the President of Brazil at the opening ceremony of UNCTAD XII, http://www.un.org/webcast/unctad/xii/pdf/openning_ceremony_brazil.pdf. (return to text)

Note 4: Statement by the President of Ghana at the opening ceremony of UNCTAD XII, http://www.un.org/webcast/unctad/xii/pdf/opening_ceremony_ghana.pdf. (return to text)

Note 5: See UNCTAD document entitled The Accra Declaration, TD/L.413, http://www.unctad.org/en/docs/tdl413_en.pdf. (return to text)

Note 6: See document entitled Accra Accord, adopted on 25 April 2008, http://www.unctad.org/en/docs//tdxii_accra_accord_en.pdf. (return to text)

Note 7: See Press Release on the conclusion of UNCTAD XII, http://www.unctadxii.org/en/Media/Press-Releases/In-Concluding-Declaration-Ministers-Pledge-to-Resist-Protectionism-Boost-Lagging-Poverty-Reduction-Strategies-as-UNCTAD-XII-Ends-in-Ghana/. (return to text)

Note 8: Following UNCTAD IX, the Trade and Development Board (TDB) established three subsidiary Commissions on: Trade in Goods and Services, and Commodities; Investment, Technology and related Financial Issues; and Enterprise, Business Facilitation and Development. (return to text)

Note 9: Ministerial Declaration of the Group of 77 and China on the occasion of UNCTAD XII TD/436, TD/436/Corr.1, (4/20/2008), http://www.unctad.org/en/docs//td436_en.pdf, http://www.unctad.org/en/docs//td436c1_en.pdf. (return to text)

Note 10: See document entitled Declaration of the Least Developed Countries Ministerial Meeting at UNCTAD XII, TD/434, http://www.unctad.org/en/docs//td434_en.pdf. (return to text)

Note 11: See document entitled Almaty Programme of Action: Addressing the Special Needs of Landlocked Developing Countries within a New Global Framework for Transit Transport Cooperation for Landlocked and Transit Developing Countries, 28/29 August 2003, available at http://www.un.org/special-rep/ohrlls/imc/Almaty%20Programme%20of%20Action.pdf. (return to text)

Note 12: See document entitled Ministerial Communiqué of Landlocked Developing Countries, UNCTAD, TD/439, (4/23/2008), http://www.unctad.org/en/docs//td439_en.pdf. (return to text)

Note 13: See document Sao Paulo Declaration on the launching of the Third Round of GSTP Negotiations, http://www.unctadxi.org/templates/Page____5876.aspx. (return to text)

Note 14: See document Joint Communiqué of the GSTP Ministerial Committee of Participants, http://www.unctadxi.org/templates/Page____7315.aspx. (return to text)

Note 15: See document Civil Society Forum Declaration to UNCTAD XII, 19 April, 2008, http://www.unctadxii-csoforum.org/UNCTADXII-Finalstatement-CSO-Forum.rtf. (return to text)

Note 16: See document Parliamentary Message to UNCTAD XII, http://www.ipu.org/cnl-e/182-unctad.htm. (return to text)

Note 17: UNITAID is an international drug purchase facility to reduce prices of quality drugs and diagnostics for the treatment of HIV/AIDS, malaria and tuberculosis in low-income countries. Financed primarily from the proceeds of a solidarity tax on airline tickets, UNITAID budget is expected to be as high as $500m in 2009. (return to text)

Note 18: Issues note - High-level Segment of Heads of State and Government, Trade and development for Africa’s prosperity: action and direction, http://www.unctad.org/en/docs//td433_en.pdf. (return to text)

Note 19: Summary of the High-level Segment of Heads of State and Government, Trade and development for Africa’s prosperity: action and direction, http://www.unctad.org/en/docs//tdl402_en.pdf. (return to text)

Note 20: See Note by UNCTAD on Globalization, development and poverty reduction: their social and gender dimensions, http://www.unctad.org/en/docs//td422_en.pdf. (return to text)

Note 21: Summary of interactive thematic round table 1, http://www.unctad.org/en/docs//tdl405_en.pdf. (return to text)

Note 22: Summary of interactive thematic round table 6, Debt management solutions supporting trade and development, http://www.unctad.org/en/docs//tdl417_en.pdf. (return to text)

Note 23: See UNCTAD Note on Debt management solutions for trade and development, http://www.unctad.org/en/docs/td424_en.pdf. (return to text)

Note 24: See UNCTAD Note The changing face of commodities in the twenty-first century, http://www.unctad.org/en/docs//td428_en.pdf. (return to text)

Note 25: Summary of interactive thematic round table 3, The changing face of commodities in the twenty-first century, http://www.unctad.org/en/docs//tdl404_en.pdf. (return to text)

Note 26: Presentation by Panos Konandreas of FAO, Soaring world food prices: causes and some important trade policy responses, http://www.unctadxii.org/Documents/en/RT3_konandreas_fao_en.pdf. (return to text)

Note 27: Summary of interactive thematic round table 4, Emergence of a new South and South–South trade as a vehicle for regional and interregional integration for development,http://www.unctad.org/en/docs//tdl408_en.pdf. (return to text)

Note 28: See Note by the UNCTAD secretariat, Emergence of a new South and South–South trade as a vehicle for regional and interregional integration for development, http://www.unctad.org/en/docs/td425_en.pdf. (return to text)

Note 29: Note by UNCTAD on Creating an institutional environment conducive to increased foreign investment and sustainable development, http://www.unctad.org/en/docs/td426_en.pdf. (return to text)

Note 30: See debate summary at http://www.unctadxii.org/en/Programme/Main-Events/Interactive-Thematic-Roundtables/Roundtable-2-Creating-an-institutional-environment-conducive-to-increased-foreign-investment-and-sustainable-development/Summary/. (return to text)

Note 31: See UNCTAD Note Harnessing knowledge and technology for development, http://www.unctad.org/en/docs/td421_en.pdf. (return to text)

Note 32: Summary of interactive thematic roundtable 5 on Harnessing knowledge and technology for development, http://www.unctad.org/en/docs//tdl412_en.pdf. (return to text)

Note 33: Summary of interactive thematic round table 7, Developing productive capacities in least developed countries, http://www.unctad.org/en/docs//tdl416_en.pdf. (return to text)

Note 34: See UNCTAD Note Developing productive capacities in least developed countries, http://www.unctad.org/en/docs/td420_en.pdf. (return to text)

Note 35: See UNCTAD Note Strengthening UNCTAD: enhancing its development role, http://www.unctad.org/en/docs//td430_en.pdf.
Also see UNCTAD Note Strengthening UNCTAD: enhancing its impact and institutional effectiveness, http://www.unctad.org/en/docs//td431_en.pdf. (return to text)

Note 36: See list at http://www.unctadxii.org/en/Programme/Main-Events/Interactive-Thematic-Roundtables/Interactive-thematic-round-table-Session-VIII/Participants/.
See list http://www.unctadxii.org/en/Programme/Main-Events/Interactive-Thematic-Roundtables/Roundtable-9-Strengthening-UNCTAD---Enhancing-its-impact-and-institutional-effectiveness/Participants/. (return to text)

Note 37: Summary of event on Global Value Chains: Opportunities and Challenges for International and Domestic Firms, http://www.unctadxii.org/en/Programme/Other-Events/World-Investment-Forum/Global-Value-Chains-Opportunities-and-Challenges-for-International-and-Domestic-Firms/. (return to text)

Note 38: Creative Economy Report 2008: The challenge of assessing the creative economy towards informed policy-making, http://www.unctadxii.org/Documents/en/ditc20082cer_en.pdf. (return to text)

Note 39: Please refer to AITIC report on this meeting of 19 April held in Accra. (return to text)