A call to lower the trade barriers imposed by advanced industrial nations and to raise the level of aid to developing countries was issued yesterday at the close of the Shanghai conference on the reduction of world poverty.CHINA: A call to lower the trade barriers imposed by advanced industrial nations and to raise the level of aid to developing countries was issued yesterday at the close of the Shanghai conference on the reduction of world poverty.
If the poor of the world were to benefit from globalisation, it was "essential" to relax trade restrictions, according to a joint statement adopted by more than 1,000 delegates to the conference, which was jointly hosted by the World Bank and the Chinese Government.
In addition, there should be "much larger" amounts of aid. "Developed countries that have not yet done so should make concrete efforts towards the target of 0.7 per cent of Gross National Product as official development assistance."
For aid to produce effective results, it should be "predictable, timely and long-term". Developing countries should be given professional management advice on how to achieve best results from their aid quota.
Debt reduction for the poorest countries was "critical" to help them achieve growth and reduce poverty, and measures in this regard should be accelerated. In addition, developing countries should co-operate with one another on a "South-South" basis.
The conference welcomed China's gesture in providing US$20 million to create a special fund for poverty reduction in Asia as well as the announcement that China and the UN Development Programme had agreed to establish an International Centre for Poverty Reduction.
In a closing address, China's Vice-Premier, Mr Hui Liangyu, outlined the Chinese formula for providing adequate food and clothing to the needy as "government leadership, social participation, self-reliance and development-oriented poverty reduction".
"Economic development and institutional innovation offer an important material foundation and institutional guarantee for poverty reduction," he added. His government would "encourage and support" poor people with working capability to start up their own businesses or find jobs. He added: "The Chinese government emphasises self-reliance and hard work."
Mr Hui called on the developed countries to "expand trade, mutual investment and the exchange of development experience with developing countries". His government would "actively honour" its commitment to the fight against world poverty, he said.
The president of the World Bank, Mr James Wolfensohn, said that the global community had the knowledge and resources to meet the UN Millennium Development Goals on poverty reduction. The "time for action" had now arrived.
He said it was imperative that rich and poor countries redouble their efforts to fund the fight against poverty and stimulate economic growth so as to ensure peace and stability in the world. But there was no single blueprint or "one size fits all" solution to poverty.
"Achieving the Millennium Development Goals will depend not only on increasing resources, but also on a renewed commitment to adapt and accelerate implementation of successful approaches across and within countries," he said.
The conference analysed more than 100 case studies in poverty reduction and Mr Wolfensohn said that the "spirit" of Shanghai should inspire rich countries to intensify assistance to others which had not benefited from "the recent global wave of progress in economic and social development".