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Dismantle trade barriers in agriculture, industrial products, services: Commonwealth

The Commonwealth Heads of Government Meeting today called for dismantling of trade barriers so as to provide a greater market access to developing nations in the field of agriculture, industrial products and services.

The Fancourt Declaration adopted by the summit said the global community should establish innovative mechanisms to promote capital flow to a wider number of countries and urgently ''initiate reform of international financial architecture to minimise financial instability and its impact on the poor.''

Although the leaders remained engaged for three days on the Pakistan issue, the thrust of the summit was on globalisation and its impact on developing and least developed nations.

The leaders urged the forthcoming ministerial meeting of the World Trade Organisation to launch the next round of global negotiations on trade with a pronounced developmental dimension to achieve better market access in agriculture and industrial products and services in a way that benefits all developing nations.

The summit also demanded upholding of labour standards and protection of environment. But these must be addressed in an appropriate way, it said. They must not be linked to trade liberalisation, as it would effectively end up impeding free trade and causing injustice to developing countries.

The summit said that the greatest challenge facing today was how to channel the forces of globalisation for the elimination of poverty and the empowerment of human beings to enable them to lead fulfilling lives.

The solution does not lie in abandoning a commitment to market principles or in wishing away the powerful forces of technology change, it added.

''Globalisation is a reality and can only increase its impact. But if the benefits of globalisation are to be shared more widely, there must be greater equity for countries in global markets.''

The leaders said strong export growth remains a key element in the ability of developing countries to improve their living standards to the levels enjoyed in the industrialised world.

''We support efforts that would enable developing countries to build up their skills and manufacturing capacities, including production and export of value-added goods, so as to enhance growth and achieve prosperity.''

The declaration said the elimination of poverty is achievable, but only with determined and concerted action at national and international levels. Urgent action is required to tackle the unsustainable debt burden of developing countries, particularly the poorest, building on the recent initiative agreed internationally.

The summit made a strong call for a renewed commitment to eliminate all forms of discrimination.

The leaders said the benefits of globalisation are not shared equitbly. Property remains the preserve of a few. The poor are being marginalised. Expanded capital flows have also brought them the risk of greater financial instability, undermining the hope that a commitment to open the market can lift the developing world, especially the least developed countries, out of poverty and debts.

They said poverty and human deprivation make global peace and security fragile, limit the growth of markets and force millions to migrate in search of a better life.

UNI

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