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04 to 07 November 2019 | By invitation only

For landlocked developing countries (LLDCs), the challenge to achieve the 2030 Agenda for Sustainable Development is exacerbated by the need to overcome the additional obstacles arising from their geographical position. Their remoteness from the sea and their dependence on the trade and transport networks of transit neighbours translate into higher trade costs. In addition, many LLDCs depend on exports of primary commodities, which make them vulnerable to price shocks.

To date, Asia-Pacific LLDCs have not made progress towards achieving structural transformation. The share of the manufacturing sector in GDP in these countries declined in the past decade, suggesting premature de-industrialization. Similarly, there has been no improvement in the diversification of the export structure.

Achieving structural transformation and export diversification requires the building of productive capacities. Among others, policymakers need to take actions in various areas, such as education, private sector facilitation, energy and ICT infrastructure, support for strategic priority sectors, and public institutions. 

Meanwhile, ESCAP estimated that Asia-Pacific LLDCs would need to spend an additional 8% of GDP on average per year to achieve the SDGs by 2030. Such amount is higher than the region’s average of additional 5% of GDP per year. Close to half of the total estimated cost for Asia-Pacific LLDCs is on providing sustainable infrastructure. 

To mobilize more financing for development in Asia-Pacific LLDCs, one option is through prudent public borrowing, as public debt levels remain generally moderate. Another financing option is to enhance the contribution of private finance to SDG investment, which is particularly relevant for infrastructure financing. In this regard, effective domestic capital markets are an important financing means for increasing public borrowing and leveraging private finance. 

The aims of this workshop are to strengthen the capacity of policymakers in Asia-Pacific LLDCs in designing and implementing policies aimed at promoting structural economic transformation. The workshop will focus on three policy areas: productive capacities, export diversification and capital market development. 

 

Presentations

for more information, please contact

Macroeconomic Policy and Financing for Development Division +66 2 288-1234 [email protected]