Globalization Must Benefit Bottom Billion Of Poor
Tuesday, March 4, 2008
This year must be devoted to helping the “bottom billion” of the world’s poorest to tap into global economic growth, Secretary General Ban Ki-moon told the United Nations Conference on Trade and Development (UNCTAD) today.
“In a globalizing world, we require an international economic environment that fosters development,” Mr. Ban said to UNCTAD’s Executive Committee, which is gearing up for this April’s UNCTAD-XII Conference in Accra, Ghana.
“The Accra Conference can advance this aim by galvanizing support for a more development-friendly global economic, trading and financial system. Accra must also articulate an effective strategy to leverage globalization, trade and investment for poverty reduction and economic growth,” he added.
The Conference, Mr. Ban continued, must also help build consensus on how the current impasse in the Doha Round of negotiations on international free trade can be broken. The talks stalled last year amid disputes between developed and developing countries over agricultural subsidies.
Established in 1964, UNCTAD promotes the integration of developing countries into the world economy. It also helps shape policy debates on development, with a focus on ensuring that domestic policies and international action are mutually supportive in bringing about sustainable growth.