Wednesday, October 25, 2006

Rules-based trade is best for small states

A rules-based trading system is critical for the survival of small developing countries in the global economy, says Commonwealth Secretary-General, Don McKinnon, at the Commonwealth Parliamentary Association and World Trade Organisation regional workshop being held at the Warwick Hotel at the Coral Coast in Fiji.

Mr McKinnon said such a system was needed for small developing nations in the face of competition from larger developed states with greater economic and political clout.

He said that the successful completion of WTO's Doha Development negotiations would pave the way for developing countries to benefit from globalisation.

Mr McKinnon said special and differential treatment of products from developing countries and aid for trade would develop national capacities for economic growth and sustainable development.

The Commonwealth Secretariat is working closely with the European Union to improve the trade policies and negotiating capacity of African, Caribbean and Pacific nations.

The Secretariat does this through a $20 million project which involves the establishment of a network of senior ACP advisers based in the secretariats of regional organisations who coordinate networks of analysts attached to trade ministries in individual countries.

The technical assistance is vital to enable small island developing states, including those in the Pacific, to overcome their inherent vulnerabilities.

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