Mobilizing Aid for Trade: Focus Latin America and the Caribbean

WTO Director-General Pascal Lamy, in opening the WTO/IADB conference ”Mobilizing Aid for Trade: Focus Latin America and the Caribbean” on 13 September in Lima, Peru, said the initiative is ”critical” for the region and the world trading system because ”today’s global economy – which could be widened and strengthened by the conclusion of the Doha Round – is fundamentally changing the development dynamic. The meeting is part of a global initiative – launched at the WTO’s 2005 Hong Kong Ministerial Conference – to scale up international financial assistance for trade capacity building in developing countries. More Aid for Trade is not part of the Doha Round of multilateral negotiations, which is about rebalancing WTO rules in a more development-friendly way and which must succeed if we are serious about making trade work for development. ”Aid for Trade is not a substitute for better trade rules. But it is an important complement to a fairer trading system.”