UN General Assembly
2002

to increased security arrangements introduced in international transportation and, of course, the natural fear of travelling. Loss of revenue in tourism affects the hotel industry, employment, transportation, banking, agriculture and other tourism activities that help to sustain the economy of my country. The next hardest hit sector is trade. Conventional economic wisdom says that poor developing countries must grow their way out of poverty. Trade offers the best hope, because it is the engine of growth and development. Many products from developing countries face untold obstacles in entering the markets of the rich developed countries. In this connection, the decline in trade, especially primary commodities, has a direct relation on developing countries' ability to import goods essential for development. According to the Managing Director of the International Monetary Fund (IMF), Mr. Horst Köhler, the true test of the credibility of wealthy nations' efforts to combat poverty lies in their willingness to open up their markets and phase out trade-distorting subsidies in areas where developing countries have a comparative advantage, as in agriculture, processed foods, textiles, clothing and light manufactures.