World's poorest nations call for more aid amid global financial woes

SIEM REAP, Cambodia (AFP) — The world's poorest countries on Thursday called on rich nations to continue giving aid despite the global financial crisis.

The appeal from trade ministers and representatives from nearly 50 Least Developed Countries ended two days of talks in Cambodia's tourist hub Siem Reap to discuss trade and the credit crunch.

Jointly organised by the UN Industrial Development Organisation (UNIDO) and the World Trade Organisation (WTO), the meetings discussed the need for an Aid for Trade (AFT) initiative to speed up trade reforms in poor countries.

"The least developed countries appeal to rich countries to continue to give all kinds of aid to them," said Cambodian Commerce Minister Cham Prasidh.

"AFT can help to strengthen our capacity in producing products that can be exported to the rich countries," he said.

In his opening remarks on Wednesday, Cambodian Prime Minister Hun Sen said the world's poorest nations were already suffering from tariffs and strict controls hampering their access to world markets.

Ministers also discussed the latest "Doha" round of WTO negotiations, officials said.

Attempts to hammer out a global trade pact have repeatedly broken down as the world's poorest nations and economic powers trade blows.

Developing countries have been pressing for greater access to agricultural markets in the industrialised world.

Developed nations are in return seeking a better deal for their manufactured products in developing markets.