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27 June, 2006IMF joins calls for a new approach to the multilateral trading system.
GLOBAL: The International Metalworkers' Federation joined other global union federations and more than 100 civil society groups in calling on Trade Ministers to the World Trade Organisation to start a new approach to the multilateral trading system.
Appalled by both the substance and the process of the current WTO negotiations the IMF joins others in demanding that Trade Ministers to the WTO:
These demands are supported by a series of economic reports on the projected outcomes of the "Doha Development Round" that indicate that developed countries will make the most gains, while people in African countries and other least-developed countries are expected to lose.
"The trade deals on the table will severely limit domestic policy options for developing countries, only serve the private interests of the biggest corporations around the world and fail to consider the impact that further trade liberalisation will have on development and on employment," said IMF General Secretary Marcello Malentacchi.
A copy of the letter to trade ministers is published in English on the IMF website.
Appalled by both the substance and the process of the current WTO negotiations the IMF joins others in demanding that Trade Ministers to the WTO:
- Object to the legitimacy of the June mini-Ministerial and withdraw support on the grounds that it is excludes representation from the large majority of WTO members,
- Reject any attempt by Director-General Pascal Lamy drafting his own text for Ministers' consideration, and
- Start a new approach to the multilateral trading system that focus on promoting human rights and people-centred ecologically sustainable development.
These demands are supported by a series of economic reports on the projected outcomes of the "Doha Development Round" that indicate that developed countries will make the most gains, while people in African countries and other least-developed countries are expected to lose.
"The trade deals on the table will severely limit domestic policy options for developing countries, only serve the private interests of the biggest corporations around the world and fail to consider the impact that further trade liberalisation will have on development and on employment," said IMF General Secretary Marcello Malentacchi.
A copy of the letter to trade ministers is published in English on the IMF website.