UN General Assembly
1994

We favour the formula "Trade, not aid", which has often been used to indicate that global trade is the genuine driving force for economic progress - more so than aid for development. It is beneficial that, along these lines, on 15 April last, in Marrakesh in the Kingdom of Morocco, the representatives of 126 countries signed the agreement that created the World Trade Organization (WTO). 23 We hope that the birth of the WTO represents the completion of the structure that was conceived half a century ago in Bretton Woods as international trade has been raised to the same status as monetary policy and finance for development. Thus, the Marrakesh Final Act opens the way for a new dynamic of concerted action, of consultation and solidarity, that will finally allow for the promotion of a more just and more balanced system designed to govern international trade. If it is to do so, its practical application will have to involve integration of the specific needs and specific problems of the group of developing countries - such as