During the past two years, which have been difficult for many of our member countries, the multilateral trading system has been an anchor of strength and stability in the world economy. Its rules are an essential element of the framework for international economic policy cooperation. The damaging economic and social effects of financial crisis have been felt widely, yet the consequences would have been far worse if the crisis had provoked a protectionist trade response. A broad-based recovery in world economic activity and a return to macroeconomic stability is now underway. In these circumstances, it is important that resort to restrictive trade measures continues to be resisted firmly, and that further steps are taken to open markets and enhance competition in order to strengthen the contribution of trade to poverty alleviation and development.
Poverty afflicts an intolerably large proportion of the world's population.
The evolution towards a more open, integrated and competitive global economy offers great potential for fostering growth and the economic and social development needed to eradicate poverty. But the human and social benefits of economic globalization do not accrue automatically, and globalization presents particular challenges for the poorest countries. Supporting their efforts to integrate more fully into the world economy is an urgent task for the international community, and one to which our three organizations are strongly committed. All WTO Members will benefit from increased participation of developing countries in trade. We shall build on the strong collaboration between our three organizations to enhance the capacity of developing countries to use the new trade negotiations, and their membership in the WTO, to foster their economic and social development.