Even more than others, they need to attract foreign investment, since they have so little capital of their own. Yet they attract very little investment, because their people are poor, their politics are often unstable, and their domestic market is small. And their people remain poor because there is no investment. So the poorer the country, and the smaller its domestic market, the greater its need to break out of this vicious circle through exports. And therefore, more than any other group of countries, the Least Developed need open markets, in which their goods can compete.
More fortunate countries have every reason to open their markets to products from the LDCs.
Their consumers would benefit from wider choice and lower prices. Their industries would benefit from the competition. And, by allowing poor people in poor countries to make an honest living, they would contribute to a fairer and more stable world order. Our hosts, the European Union, seem to have understood this. I very much hope that other economic powers will take similar decisions, and act on them faster.