48 least developed countries gather in Istanbul, Turkey under the auspices of the UN to discuss poverty reduction. The high profile meeting has also attracted aid organizations, parliamentarians, academia and business executives.
While this is an important opportunity to promote South-South cooperation and help what Ban KiMoon, the UN Secretary General calls the “next wave economies” increase their productive capacities; it is worth noting that since the introduction of the category in 1971, only Botswana, Cape Verde and Maldives have graduated from the list. Further, the number of least developed countries has increased from 25 in 1971 to 48 in 2011.
It is disheartening that of the 48 countries attending the forum, 33 hail from resource- rich Africa. The continent ought to take advantage of numbers to articulate the role of developed countries in impoverishing it. The developed world has done this through a skewed global market system that relegates the continent to primary exports and production; trade barriers and exclusion from international long term financing to businesses on the continent.
The continent also ought to look inward and learn Turkey’s steps to development. Turkey, though resource poor, was plagued by erratic growth, had soaring inflation, had periodic banking busts and was dependent on aid has now outgrown all these to become the fastest growing economy in the OECD countries. Turkey now gives aid to the tune of $1 billion a year to poor nations and has airlifted 363 Africans from 33 African countries to attend the forum.
