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WTO Talks With Regional Banks on Development Agenda

World Trade Organization (WTO) Director General Mike Moore opened an informal dialogue Friday with regional development banks on implementing the Doha Development Agenda.

Heads and representatives of the banks discussed ways to promote cooperation with the global trade body and coordinate trade-related programs or projects designed to help the poor nations.

They focused the talks on how to provide the poor nations with concrete assistance to further their participation in the open, rule-based multilateral trading system.

"The explicit and coordinated involvement of regional development banks in the implementation of the Doha Development Agenda is indispensable for success," Moore said.

"I am also hoping that this first meeting will not be a one-off meeting, but that the heads of vital regional development banks will agree to meet on a periodic basis," he added.

The WTO said the meeting is part of a wide-ranging strategy to enhance technical assistance and capacity building efforts for the developing countries, which was launched by Moore after the Doha ministerial conference last November.

Attending the meeting were the Arab Monetary Fund, the Asian Development Bank, the European Bank for Reconstruction and Development, Inter-American Development Bank, the Islamic Development Bank, the World Bank and the New Partnership for African Development.

Moore also signed a memorandum of understanding with the Arab Monetary Fund on Friday.

(People's Daily May 4, 2002)

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