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ndTrade Policy Review of The Gambia
Statement by the Republic of Korea for Day 1
Thank you, Mr. Chairman.
I would like to begin by extending my delegation’s warm welcome to the Gambian delegation headed by H.E. Mr. Yusupha A. Kah, Minister of Trade, Regional Integration and Employment, for their country’s second trade policy review.
I would also like to thank Minister Kah and his delegation for supplying the Secretariat and other members with most up-to-date information about The Gambia’s trade and trade-related laws and regulations. I can imagine that preparing for this TPR was not an easy task, given that The Gambia does not have a permanent presence here in Geneva.
Mr. Chairman,
The reports show that The Gambia has enough potential to be the centre of trade in Western Africa with the government’s relatively liberal trade policy, good port facilities and a simple and efficient customs system compared with many other developing countries.
However, my delegation sees areas that would need further improvement such as the infrastructure, particularly in the fields of transport, electricity and communication, as well as the business environment, especially in the fields of taxation and financial policy.
More importantly, my delegation believes that it is necessary for The Gambia to implement robust and adaptive plans over a long period of time in order to achieve self-sustaining economic development.
The Secretariat’s Report has it that, in 1996, The Gambia adopted such a development plan titled “The Gambia Incorporated: Vision 2020”. This plan calls for the transformation of The Gambia into “a dynamic middle income country” by 2020 and remains the Government’s overall guiding development policy document.
According to Korea’s own experience of implementing Five-Year Plans for Economic and Social Development in the 1960’s and 1970’s to strategically pursue economic growth, it is important to constantly adapt policies to changing circumstances without losing sight of the ultimate aim; to identify future bottlenecks to growth as early as
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possible and act to remedy them; to choose and focus on growth drivers; to foster an environment marked by peace and security, quality education, and good infrastructure.
Support for the private sector with a strategic approach to industrialization, and trade based on striking a timely balance between government intervention and market autonomy is also important.
In this context, my delegation would like to encourage The Gambia to keep in constant contact with relevant international organizations and the rest of the world so as to remain up-to-date on the recent global financial and economic crisis, the challenges of climate change, the energy crisis and other economic and social transformations.
Successfully adapting to these challenges is crucial in achieving The Gambia’s development objectives.
Korea was able to successfully build its economy after decades of colonial rule and the post-Korean War devastation. Only 40 years ago, poverty was rampant, the levels of human development were low and Koreans, as well as the rest of the world, were pessimistic about the prospects of development in Korea.
Today, as a member of the G20 and Chair of the G20 Seoul Summit to be held in November, Korea is willing to use its position to support efforts to strengthen African countries’ representation and voice in the global economic and financial governance architecture. Korea will also strive to help G20 meetings contribute to poverty reduction and development cooperation.
Mr. Chairman,
I would like to conclude by wishing The Gambia a very successful trade policy review.
Thank you, Mr. Chairman.
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