At a lively session organized by OWINFS on 26 September, 2012 as part of the WTO’s Public Forum, Ambassadors of developing countries and other experts presented their views on the impasse in the WTO’s Doha negotiations, the “new trade narrative” promoted by major developed countries, and the need for an alternative narrative that reflects reality, from the perspective of developing countries.
New York, 26 Jun (Bhumika Muchhala) -- The bailouts given to companies in developed countries have destroyed the framework of the multilateral trading system for a level playing field, according to the Nobel prize-winning economist Joseph Stiglitz.
Speaking at the UN conference on the global financial and economic crisis, Stiglitz said that the massive bailouts and stimulus programmes of the rich countries have "destroyed the framework for an international and multilateral global playing field for trade."
After many failed Ministerial meetings and nearly twelve years of negotiations, the Doha Round of WTO expansion is at a crossroads. Developed countries have pushed aside agreements to negotiate on key developing country issues intended to correct the imbalances within the existing WTO, which formed the basis of the development mandate of Doha.
Even worse, developed countries appear to be re-packaging the same liberalization and market access demands of their corporate interests to create a “new trade narrative” towards gaining agreements at the upcoming 9th Ministerial in Bali.
In this statement with specific demands Our World Is Not for Sale (OWINFS) network asserts that in addition to a long-term transformation of the global trade and economic architecture, immediate changes must be made to WTO in order to provide countries more policy space to pursue a positive agenda for development and job-creation, food security, sustainable development, access to affordable healthcare and medicines, and global financial stability.