The heads of the IMF, World Bank and OECD have issued a joint “Declaration” in advance of next week’s meeting in Cancún, Mexico. The world’s trade ministers are gathering in Cancún from September 10-14, to review progress in completing the Doha Development Agenda.
Messrs. Horst Kohler, James D. Wolfensohn, and Donald J. Johnston state that these ministers carry with them the aspirations of millions around the world whose hopes for economic advancement rest on opportunities in the global economy. Trade is a driving force for economic expansion in developed and developing countries alike.
*”We need a decisive break with trade policies that hurt economic development. Donors cannot provide aid to create development opportunities with one hand and then use trade restrictions to take these opportunities away with the other — and expect that their development dollars will be effective.”* The declaration further states that the developing countries have an important responsibility in using the multilateral system to promote better integration among themselves and with the global economy.