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WTO Report on Least Developed Countries

WTO Report on Least Developed Countries

A report by the WTO Secretariat has focused on the impacts of the coronavirus pandemic on the presence of the least-developed countries (LDCs) in the world trade. It indicates that these countries have faced issues like a dramatic reduce in exports, and low-priced goods among others.

Also, shortage of resources heightens their critical situations. The report predicts that this falling trend is going to last even harder, making the crisis even worse in LDCs.

For one thing, textile industry has encountered a decrease in global demands. For another, tourism, a source of money in some of these countries, is enduring a serious decline.

The new report states that Covid 19 has lowered development profits in countries like Angola, Bangladesh and Vanuatu.

According to the report, these 47 countries are taking measures to withstand the virus; developing public healthcare, offering stimulus packages to some sectors, and supporting enterprises financially are among their positive actions. The global community is, too, planning to help these countries to get back to the global trade through offering a debt relief and protecting social segments.

Samira H.

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