COC

CSOs submit joint NGO statement on Trade Review Session of Financing for Development (June 2008)

Rethinking Bretton Woods | Fri, Jul 18, 2008

By Several CSOs

RBW coordinated the drafting of a statement submitted to the Informal Review Session on Trade in the Preparatory Process for the Financing for Development Review Conference, scheduled to take place in Doha, Qatar at the end of 2008.

 

 

The  Monterrey  Consensus,  with  its  pursuit  of  a  holistic  approach,  recognized  that  trade  measures  alone  cannot  ensure  that  trade  plays  its  full  part  in  promoting  growth,  employment  and  development  for  all.  Monetary  and  financial  policies,  at  regional  and  global  levels,  are  necessary  complements.  So  are  monetary  and  financial  policies  at  the  national  level,  and  the  policy  space  for  their  undertaking,  hence,  needs  to  be  preserved.  

The statement argues that after  more  than  six  years,  the  Doha  Round  of  trade  talks  remains  deadlocked,  although  recent  signs  point  to  renewed  momentum  towards  a  possible  conclusion  of  the  Round.  It  is  time  to  take  a  step  back  and  recognize  that  crucial  conditions  for  a  successful  engagement  of  developing  countries  in  the  worl  trading  system  lie  outside  the  realm  of  what  can  be  negotiated  in  a  body  concerned  with  market  access  negotiations  such  as  the WTO.  

Click here for a copy of the full statement.

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