Open, fair international trading regime key to sustainable development


United Nations Secretary-General Ban Ki-moon has called for an open, fair, rule-based and development oriented international trading regime in order to promote equitable and sustainable development.

Mr Ban said efforts must be made to correct market distortions caused by export subsidies or import tariffs as well as allowing least developing countries to benefit from duty free and quota free exports.

He said the United Nations fully supports efforts by the World Trade Organization (WTO) to conclude the Doha round of trade talks noting that it remains the best route to a fairer development focused trading system.
The Secretary-General was delivering a key note address at the start of the annual WTO Public Forum 2014 being held in Geneva.

" International trade is an essential component of an integrated effort to end poverty, ensure food security and promote economic growth. An ounce of trade can be worth a pound of aid.  If managed well, international trade can be a key driver of sustainable development. Let us use the power of trade to improve the well-being of people everywhere while carefully managing the planet's natural resources and ecosystems. Let us transform the way we do business by creating an enabling environment for trade and investment that will help deliver sustainable development. Trade matters to everyone."

Mr Ban said countries' must also endeavour to remove internal impediments to trade – such as lack of productive capacity, excessive red tape or inadequate infrastructure.

SOURCE: Patrick Maigua, United Nations, Geneva.