In that context, the bank has an important role to play in leveraging and providing resources and knowledge that will enable members implement these principles successfully. It should be note that during our Spring discussion the bank was expected to help countries mobilise resources to implement these principles. We encourage the bank to continue with that effort. We recognize the work of the World Bank towards helping developing countries strengthen their trade sector. This is very much in keeping with the institutional mandate, since trade is inextricably linked to development and poverty reduction objectives.
Trade is integral to the process of globalisation.
A number of steps have been already taken by the developing countries to increase their share of global trade, particularly in the context of Uruguay Round. As we enter the new millennium, the basic profile of the trade itself will undergo change. Reforms and opportunities have led to financial and economic integration. Advances in technology and communications, along with institutional innovations have altered the way businesses are conducted, apart from the fact that the services sector is becoming increasingly important. These changes have introduced an era of both challenge and opportunity for developing economies and in this regard, the bank has an important role to play.