Friday, July 22, 2011

Ban Ki-moon: Global Aid For Trade Is Vital For Boosting Development

United Nations Secretary General, Ban Ki-moon, addressed the WTO's Third Global Review of Aid for Trade in Geneva on July 19th. He urged the donors to maintain their support of "Aid for Trade." These efforts help developing countries, especially the poorest, accelerate their development and benefit from economic growth.

Aid for Trade was launched by the World Trade Organization (WTO) more than five years ago and it specifically helps developing countries develop trade-related skills and infrastructure in order to benefit from WTO agreements and expand trade.

Ban stated that Aid for Trade is crucial for building global partnerships and for global development.

However, with the economic decline, budgets are tight. "this is no excuse for letting up our efforts," stated Ban. The Secretary-General stressed the need to pay attention to the needs of the least developed countries and ensure that they are not left behind.

Another main topic of the speech was the necessity of sustainable development. "Meeting our development goals is ultimately about building self-sufficiency and helping people feed themselves," said Ban.

-Gabrielle Gurian