A/RES/74/15 Political Declaration of the High-level Midterm Review on the Implementation of the Vienna Programme of Action for Landlocked Developing Countries for the Decade 2014–2024 17. We note the lack of availability of trade finance in landlocked developing countries. We reaffirm that international trade is an engine for inclusive economic growth and poverty reduction and contributes to the promotion of sustainable development. 18. We note with concern the lack of access to capital for micro-, small and mediumsized enterprises, including women- and youth-owned enterprises, which affects overall private sector development and economic growth in landlocked developing countries. We are further concerned that landlocked developing countries still fall behind in their electronic commerce (e-commerce) readiness. 19. We recognize that the participation of landlocked developing countries in regional and subregional trade, transport and transit facilitation agreements and initiatives aimed at deepening regional integration, enhancing infrastructure connectivity and facilitating the movement of cargo across border s has increased. Landlocked developing countries have entered into bilateral and plurilateral trade, transport and transit-related agreements with their neighbours. In this regard, we take note of the entry into force of the agreement establishing the Afri can Continental Free Trade Area. 20. We are encouraged by signs that broader cooperation in areas such as investment, research and development and policies supportive of regional industrial development and regional connectivity is taking place both among landlocked developing countries and between landlocked developing countries and their neighbours. 21. Since 2014, many landlocked developing countries have placed structural economic transformation at the centre of their national development plans and adopted strategies for diversification and upgrading of their economies, industrialization, export promotion and private sector development, but landlocked developing countries have made limited advancement towards achieving structural transformation, still have limited manufacturing and industrial capacity to create high value added products, some landlocked developing countries even showing signs of de-industrialization of their economies. 22. We acknowledge the efforts by landlocked developing countries to s upport private sector development and emphasize that an enabling legal and regulatory environment for the local private sector is one of the most important requirements for promoting sustainable, inclusive and sustained economic growth, developing an industrial base, attracting investment and bringing about structural transformation. 23. We express concern at the limited technological capabilities, low technology intensity and acquisition and low investments in research and development in landlocked developing countries. 24. Landlocked developing countries are highly vulnerable to the adverse impact of climate change and remain heavily affected by desertification, land degradation, biodiversity loss, drought and receding glaciers. We are concerned about the economic, social and environmental impacts of sudden- and slow-onset disasters in landlocked developing countries, as well as the impacts of disasters in transit countries on the economies of landlocked developing countries. 25. We note that lack of adequate financial resources and capacity constraints are some of the biggest challenges that landlocked developing countries face in their efforts to implement the Vienna Programme of Action and achieve sustained growth and sustainable development. 26. We recognize that landlocked developing countries and their transit country neighbours need to effectively mobilize adequate domestic and external resources, 4/9 19-20986