MEDIA REPORTS
TRADE, FINANCE AND
INVESTMENT IN SUSTAINABLE DEVELOPMENT
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on: 01/26/10
2005
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DECEMBER 2005
UN CONSIDERS BUDGET FOR 2005 WORLD SUMMIT
REFORMS
The cost to the UN budget of implementing the 2005 World Summit reforms
would amount to over US$73 million, according to a new reporting from
the Secretary-General. The issue was taken up during a fifth committee
meeting on 14 December 2005.
Links to further information
UN
statement, 14 December 2005
NOVEMBER 2005
HONG KONG TRADE MINISTERIAL APPROACHES; LAMY
INTRODUCES DRAFT TEXT
New
Director-General Pascal Lamy submitted draft text for the Sixth
Ministerial Conference coming up in Hong Kong. Diplomats are seeking to
make more limited progress after it became apparent in early November
that a more ambitious outcome was unlikely. Talks are continuing, with
the latest suggestion being that a high-level summit in early 2006 will
be needed to agree on a more far-reaching agreement.
Links to further information
Draft text, 26 November 2005
Official WTO Hong Kong ministerial website
MICROFINANCE SUPPORT GROWS
Business
support for microfinance appears to be on the rise, with the launch of a
new corporate consortium to fund microfinance institutions. The Global
Commercial Microfinance Consortium has been set up by Deutsche Bank and
other financial institutions with a $75 million fund for microfinance
institutions. Microfinance provides small loans to help those living in
poverty develop their own businesses.
Link to further information
WBCSD/Social Funds report, 9 November 2005
INTERNET DIVIDE HARMING DEVELOPING WORLD
Limited access to the Internet in many developing countries is placing
businesses at a disadvantage compared with competitors in Europe and
North America, according to a new UN report. The Information Economy
Report 2005, published by the UN Conference on Trade and Development,
shows that the digital divide between North and South remains wide, in
spite of some progress. For instance, almost nine out of ten businesses
in the EU are connected to the Internet, compared with less than one it
ten in Thailand.
Link to further information
The report
OCTOBER 2005
RIO CONVENTIONS HEADS CALL FOR SUBSTANTIAL GEF
REPLENISHMENT
The fourth
replenishment of the Global Environment Facility (GEF), currently under
negotiation, will be critical to ensure progress in the key areas of
climate change, biodiversity, land degradation, ozone depletion and
chemicals management, according to the heads of the Rio Conventions. In
consideration of its significant impact, the Executive Heads of the
Conventions on Biodiversity, Climate Change, and Desertification have
voiced their support for a strong GEF replenishment.
Link to further information
Joint press release, 26 October 2005
ECOSOC SELECTS THEME FOR 2006 HIGH-LEVEL SEGMENT
The Economic and Social Council has selected the theme for the
high-level segment of its 2006 substantive session: "Creating an
environment at the national and international levels conducive to
generating full and productive employment and decent work for all, and
its impact on sustainable development."
Link to further information
ECOSOC news release, 21 October 2005
NEW BENCHMARKS FOR INTELLECTUAL PROPERTY PROPOSED
A new Charter has been launched setting out a framework for how
intellectual property could be protected and promoted. The Adelphi
Charter on Creativity, Innovation and Intellectual Property was
developed by a commission of academics, artists, business experts,
economists, lawyers, politicians and scientists. The Charter was
launched by the
Royal
Society for the encouragement of Arts, Manufactures & Commerce – or RSA
– which was founded in 1754 and is headquartered in London.
Links to further information
The
Charter
RSA press
release, 14 October 2005
SEPTEMBER 2005
WORLD BANK ASSISTANCE EXAMINED
The effectiveness of the World Bank's assistance for human and social
development was the subject of a recent meeting organized by the
Operations Evaluation Department of the World Bank. The meeting, held on
26 September 2005 in Washington DC, provided an opportunity for
government officials, civil society and Bank staff to discuss possible
improvements to the Bank's activities.
Link to further information
Conference on the Effectiveness of Assistance for Human and Social
Development
EQUITY FINDS FAVOR IN WORLD BANK REPORT
The need for greater equity and wealth redistribution has been urged in
a new World Bank report. The 2006 World Development Report, release in
late September 2005, has been applauded by some observers for the
emphasis placed on equity as well as economic growth.
Links to further information
The
report
BBC news
report, 20 September 2005
FOREIGN INVESTMENT FOCUS DISTORTING AFRICA'S
DEVELOPMENT – REPORT
A focus on
attracting foreign direct investment could be distorting Africa's
long-term growth potential, according to a new report from the UN
Conference on Trade and Development (UNCTAD). The report, Economic
Development in Africa, Rethinking the Role of Foreign Direct Investment,
argues that a more balanced approach that weighs up local circumstances
and both costs and benefits is required if broader development goals are
to be achieved.
Link to further information
UNCTAD press release
TRADE LIBERALIZATION MUST ACCOUNT FOR
ENVIRONMENT – UNEP
Free trade without an environmental perspective can harm developing
countries, according to the UN Environment Programme. UNEP has released
six new case studies showing that "environmentally-insensitive trade
liberalization considerations
. [can cause] economically costly soil
degradation, water pollution, loss of biodiversity and destruction of
forests."
Link to further information
UNEP Warns of Trade Liberalisation Failure if Environment Forgotten
AUGUST 2005
INDIA PROPOSES AMENDING TRIPS AGREEMENT TO PROTECT
BIODIVERSITY
India has circulated a letter to trade ministers emphasizing the need for
an amendment to the World Trade Organization Agreement on Trade-related
Aspects of Intellectual Property Rights (TRIPS) in order to protect
biodiversity and traditional knowledge, according to reports.
"We need to form a common position before the Hong Kong meeting for taking
the process towards a logical outcome," Indian Commerce Minister Kamal
Nath emphasized. "India, along with other countries having significant
biological diversity, have made their submissions to bring about a
mutually-supportive resolution to the objectives of the TRIPs and the
CBD," he added.
A nation-wide citizens' campaign was launched in India on 9 August against
patents on life forms and biopiracy to pressure governments to review
the TRIPS Agreement.
Links to further information
India calls
for biodiversity protection under WTO, Indo-Asian News Service, 29
July 2005
Campaign for review of TRIPS to be launched, The Hindu, 6 August
2005
JULY 2005
U.N. GLOBAL COMPACT PARTICIPANTS REPORT PROGRESS
The United Nations Global Compact Office has announced the results of
the first phase of a policy requiring corporate participants to disclose
progress in implementing the Global Compact's ten principles. The
Compact's "Communication on Progress" policy requires that participants
develop an annual disclosure to their stakeholders on implementation
actions within two years of joining the Global Compact initiative. Among
the results for the 977 companies that have been Global Compact
participants for two years are the findings that 98% of the 73
"Financial Times Global 500" companies produced Communications on
Progress for their stakeholders, via annual "sustainability," financial
reports or other key communications, while 38% companies overall
developed Communications on Progress for their stakeholders.
Link to further information
Global Compact news release (15 July 2005).
JUNE 2005
HELSINKI PROCESS REPORT TACKLES GLOBALIZATION
A new report has been released urging action to make globalization work
for all. The report, Mobilizing Political Will, deals with issues
of poverty and development, human rights, environment, peace and
security, and governance. Recommendations including reviewing the Geneva
Convention, seeking agreement on long-term greenhouse gas emissions
reductions, reducing agricultural subsidies, and establishing a World
Environment Organization and a new UN Human Rights Council. The Helsinki
Process was started by the governments of Finland and Tanzania in 2002.
The Helsinki Conference, scheduled for 7-9 September 2005, is intended
to be the culmination of the Helsinkin Process.
Link to further information
Press Release
POVERTY, CLIMATE LINKS STRESSED
Climate change, economic development and poverty have an "inseparable
relationship," according to a new report. Global Climate and Economic
Development, a new study from the University of Minnesota's Humphrey
Institute, links climate change mitigation with economic development.
Link to further information
The
report
MEXICO FIRST COUNTRY TO COMMIT TO GLOBAL COMPACT
Mexican President Vicente Fox has announced that his administration and
the country's entire public sector would adhere to the principles
outlined in UN Secretary-General Kofi Annan's Global Compact. The
announcement, made on 9 June 2005, marked the first time a government
had committed itself to the principles, which are the basis for an
initiative launched in 2000. The Global Compact brings companies
together with UN agencies, labor and civil society to support universal
environmental and social principles.
Links to further information
Global
Compact website
"Government of Mexico World's First to Adhere to United Nations' Global
Compact for Social Responsibility," UN press release, 10 June 2005
EUROPEAN
INVESTMENT BANK ENERGY FUNDING CRITICIZED
The European Investment Bank has been investing in "highly
unsustainable" projects, according to a coalition of non-governmental
organizations. The EIB is the EU's financing institution and the world's
largest public lender. The EIB has rejected previous accusations,
highlighting its environmental objectives and support for renewable
energy.
Link to further information
NGO coalition
press release, 2 June 2005
MAY 2005
TRADE RULES CHALLENGE
HEALTH, ENVIRONMENT SAFEGUARDS – REPORT
National laws protecting the environment and people's health could be at
risk of being undermined by new World Trade Organization rules,
according a new report from Friends of the Earth International. The
report.
WTO AGRICULTURE
COMMITTEE CHAIRMANSHIP IN DOUBT
The future of the current Chair of the WTO's Agriculture Committee has
been put in doubt by domestic political considerations. New Zealand's
ambassador to the World Trade Organization, Tim Groser, who has been
chairing critical WTO talks on agriculture, recently announced his
intention to stand in upcoming elections in New Zealand for the
center-right National Party, the main opposition party. Under government
rules, public servants must stand down from their current jobs to stand
for parliament. Groser will be stepping aside as New Zealand's
ambassador. His future as chair of the WTO Committee remains uncertain,
with consultations set for early June.
Link to further information
TVNZ online news report, 23 May 2005.
UN OFFICIAL CAUTIONS WTO
ON FOOD AID
New rules on agriculture being negotiated under the World Trade
Organization's Doha round of talks could increase child hunger and
starvation if the need for food aid is not taken into account, a senior
UN official has warned. James Morris, who heads the World Food Programme,
has warden that "disciplines" on food aid being discussed in the WTO
should ensure that food aid continues to reach those who need it. He
expressed concerns that food aid declined by 30 percent between 2003 and
2004.
Links to further information
WFP chief urges WTO to support food aid in Doha Round, WFP press
release, 9 May 2005
UN
warns WTO farm talks could worsen food crisis, Reuters news, 9 May
2005
PARIS MINISTERIAL
MOVES AHEAD ON AGRICULTURE TRADE TALKS
Ministers attending a meeting in Paris have apparently made progress in
trade talks on agriculture The gathering, which took place on 4 May,
reportedly moved ahead on the issue of "ad valorem equivalents"a
technical matter that had slowed talks on agriculture in the WTO Doha
round for some time. The breakthrough follows recent warnings from WTO
Director-General Supachai Panitchpakdi that time was running out to
achieve a deal on the Doha trade round in time for the December 2005
ministerial meeting in Hong Kong.
Links to further information
ICTSD Bridges
Weekly Trade News Digest, 11 May 2005
WTO Director-General's speech, 4 May 2005
RACE TO HEAD WTO
ENTERS FINAL STAGE
The competition to head the World Trade Organization has heated-up in
recent weeks, as the number of contestants has been whittled down to
just two candidates. Java Krishna Cuttaree of Mauritius was the latest
to drop out of the race, leaving only Pascal Lamy of France and
Uruguay's Carlos Perez del Castillo still in the running. With the new
Director-General supposed to be agreed by the end of May, Pascal Lamy is
apparently considered the frontrunner for the Geneva-based job.
APRIL 2005
ENVIRONMENTAL LAWS THREATENED BY TRADE
TALKS, CLAIMS LOBBY GROUP
National laws to protect the environment, social wellbeing and health
could be put at risk by new rules being discussed by the World Trade
Organization, according to Friends of the Earth. The environment
organization has alleged that Japan, the US and others are considering
using WTO negotiations to weaken national laws protecting the
environment.
Links to further information
Summary of analysis of notifications of non-tariff barriers in
Non-agricultural Market Access (NAMA) negotiations of the World Trade
Organization (PDF format)
Summary of analysis
of notifications of non-tariff barriers in Non-agricultural Market
Access (NAMA) negotiations of the World Trade Organization (Word
format)
WTO HEAD CALLS FOR "SUBSTANTIAL PROGRESS"
BY JULY
World Trade Organization Director-General Supachai Panitchpakdi has
called on negotiators to make significant progress by the end of July
2005 to ensure that the end-of-year Ministerial meeting in Hong Kong is
a success. "An immense amount of progress [needs] to be made in a very
short time if we are to achieve our objectives for Hong Kong,"
Panitchpakdi told participants at the
10th
Geneva Week for non-resident members and observers in early April. He
also advised that more frequent meetings and
consultations would be needed. The
Director-General's speech.
MARCH 2005
WOLFOWITZ NOMINATED FOR WORLD BANK TOP
JOB
United States President George W. Bush
has nominated Deputy Defense Secretary Paul Wolfowitz to replace James
Wolfensohn as head of the World Bank. Wolfowitz, who was a strong
advocate of the US-led invasion of Iraq in 2003, is widely viewed as a
foreign policy hawk. Explaining the rationale behind his nomination,
President Bush described Wolfowitz as a "skilled diplomat," who was also
a "compassionate, decent man." However, some commentators have expressed
concern that Wolfowitz could be seen as a controversial choice for the
World Bank role. The top job at the Bank is generally held by an
American.
Links to further information
President's Press Conference, 16 March 2005
Wolfowitz
nominated for World Bank job, BBC news, 16 March 2005
PROGRESS REPORTED FROM DOHA TRADE TALKS
Progress has been reported from recent
discussions to advance the Doha Round of trade negotiations. A
"mini-ministerial" meeting held in Mombasa, Kenya from 2-4 March 2005
involving 30 key member countries reportedly made limited progress,
although differences continued over agricultural issues and various
other matters. However, Tim Groser, the New Zealander chairing
agriculture committee talks, reported progress from informal meetings
held the following week in Geneva, on 14 and 15 March.
Links to further information
ICTSD Bridges Weekly
Trade News Digest,
Volume 9, Numbers 7 and 8
FEBRUARY 2005
REGIONAL ENVIRONMENTAL
AGREEMENTS APPROVED
Members of a regional free
trade group have signed two agreements aimed at strengthening
environmental protection in the region. Five countries belonging to the
Central American Free Trade Agreement, the Dominican Republic and the
United States reportedly inked the deal on 18 February. The agreements
will establish a secretariat that will address public complaints about
government breaches of environmental law. The agreement has yet to be
approved by the US Congress.
Links to further information
US, CAFTA-DR
Sign FTA-Related Environmental Accords, Bridges Weekly Trade News
Digest, 23 February 2005
DR-CAFTA Official Final Text, February 2005
JANUARY 2005
EC
SEEKS INPUT ON FUTURE OF EU DEVELOPMENT POLICY
The European Commission is seeking views from stakeholders concerning
issues that should inform the revision of the current European Community
development policy. A new policy proposal will be made in the first half
of 2005, aimed at providing a vision for long term reflection and
positioning of the EU in the international development debate, and
laying out a framework to guide the implementation of EU development
assistance. The EC has launched an internet consultation that will run
until 2 March 2005 in order to reach a wide range of development
partners. Results of the consultations will be published by April 2005.
Links to
further information
EC
consults stakeholders on future of EU development policy, 25 January
2005
Questionnaire
Issues paper on EU development policy
WTO CANDIDATES PRESS THEIR
CLAIMS
World Trade Organization
members have heard introductory speeches from the four candidates
seeking to be the next director-general. In a General Council meeting
held on 26 January, delegates heard the candidates press their claims to
succeed Supachai Panitchpadki as the next director-general. All four
stressed development issues and the Doha trade round as priorities.
While Europe's candidate, Pascal Lamy, is widely seen as an early
frontrunner, most observers believe it is too soon to predict who will
secure the post. A decision is expected in May.
Links to further information
WTO Director-General Selection Process (including candidate
biographies and statements), WTO website, January 2005
DISCRIMINATORY DEALS THREATEN
TRADE SYSTEM, REPORT FINDS
The rise in discriminatory
trade pacts around the world poses a major threat to the World Trade
Organization, according to a new report. Regional and bilateral trade
agreements and other deals are undermining the multilateral work of the
WTO by eroding the principle of non-discrimination in international
trade, according to a new report on The Future of the WTO: Addressing
Institutional Challenges in the New Millennium. The report, which
was released in January 2005,
marks the tenth anniversary of the WTO, which formally came into being
on 1 January 1995. The report considers a range of issues, including the
case for liberalizing trade, the erosion of non-discrimination, as well
as issues of sovereignty, transparency, intergovernmental cooperation,
the WTO dispute settlement system, and the role of the Director-General
and Secretariat.
The report concludes with recommendations
for a number of "realizable reforms," including the need to limit
preferential trade agreements and establish better global governance. It
also contains specific recommendations concerning dialogue with civil
society, dispute settlement, and organizational changes. The report was
authored by a consultative board of eminent academics, international
officials and businesspeople. It was chaired by Peter Sutherland, the
current chair of BP and Goldman Sachs International. The
report.
RACE TO HEAD WTO HEATS UP
The race to become the next
Director-General of the World Trade Organization is heating up, with
four candidates throwing their hats into the ring. At this stage, the
most prominent applicant appears to be Frenchman Pascal Lamy, the
European Union's outgoing trade commissioner. The other contenders are
Carlos Pérez del Castillo of Uruguay, Luiz
Felipe de Seixas Corrêa of Brazil, and Mauritius's Foreign Affairs and
Trade Minister Jayakrishna Cuttaree. The deadline for applications was
31 December 2004.
The successful candidate will
replace Supachai Panitchpakdi, whose term runs out in August 2005.
However, observers point out that,
with many months of lobbying left, the race remains wide open. Already,
the jockeying seems to have started, with Australia's government
refusing to rule out supporting Lamy, in spite of Australia's membership
of the Cairns Group of countries, which also includes Uruguay. Brazil's
candidate can expect to be supported by fellow members of the G20
negotiating group, which also includes South Africa, India and China.
In 1999, fierce competition
for the post resulted in a lengthy deadlock between former New Zealand
Prime Minister Mike Moore, and Thailand's Supachai Panitchpakdi. The
eventual compromise gave Moore three years in the post, followed by a
three-year term for Panitchpakdi. Delegates are planning to make a
decision on Panitchpakdi's successor in May. All the contenders are
slated to address the WTO General Council and civil society groups on 26
January.
Links to further information
Canberra may defy ally over WTO job,
The Australian, 5 January 2005
Nominations
for top WTO job come in, Trade Law Center for Southern Africa, 7 Dec
2004
Race for World Trade Job seen close, Reuters, 31 December 2004
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