The Hindu Business Line : `Electronic, chemical sectors hold promise for developing nations'

ELECTRONICS, chemicals and textiles are the most dynamic sectors in world trade and hold significant promise for developing countries, the latest Unctad (United Nations Conference on Trade and Development) report states. The report ranks the most market dynamic product categories in world trade on the basis of long-term trends in market share and export value growth.

Some developing countries, particularly those in East Asia, have made successful bids in entering the dynamic sectors. For example, the share of developing countries in the world exports of the top two market dynamic product categories, namely radiographic and radiophonic transmitters and computer storage units, increased from near zero in 1985 to 22 per cent in 2002.

The experience of successful developing countries indicate that dynamic and new sectors of world trade can provide opportunities for developing countries to accelerate growth, increase domestic value added of exports, increase productivity and competitiveness, and enhance employment and quality of jobs. This would contribute to the achievement of the objectives and goals of the United Nations Millennium Declaration, an official release said.

As per the report, Africa and the least developed countries are struggling to keep up. Unctad at a meeting held earlier this month in Geneva has launched a process of regular policy dialogue on developing countries export performance in dynamic and new sectors of world trade. It took up three sectors - outsourcing of IT-enabled services, renewable energy products, including bio-fuels, and textiles and clothing. Key issues covered included opportunities offered by the dynamic and new sectors to developing countries in ensuring gains from international trade and key determinants of their participation in these sectors.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page