The WTO must more fully reflect the basic values of transparency, accessibility and responsiveness to citizens. The work of the WTO and related organizations should be mutually supportive in promoting a broad vision of a more prosperous, sustainable and just world economy. We propose disseminating information about WTO issues and activities to the maximum extent possible. Another important priority is ensuring timely implementation of dispute settlement panel findings. Finally, we want to strengthen and revitalize technical assistance coordination among international organizations to build the capacity of less developed WTO members to implement their commitments and take maximum advantage of market opportunities.
Trade liberalization promotes economic growth and enhances national wealth.
Stanford University economist Anne Kreuger, who led the world's most comprehensive analysis of the effects of trade liberalization, has said that replacing protectionist import substitution policies with trade liberalization helps spur economic growth. This means significant improvement in living standards, even over a generation. The WTO and development institutions such as the World Bank must work together more closely to accomplish mutually supporting goals. All citizens of developing countries must share the fruits of economic growth. Jim Wolfensohn of the World Bank and I have talked at length about this subject, and I have asked my staff to develop proposals to enhance collaboration among trade and development institutions.