agreed that the development and trade agendas were tightly linked and
stressed that a failure to achieve a positive outcome on the Doha
talks would have profoundly negative consequences for development and
poverty alleviation programmes including the United Nations'
Millennium Goals. They said a successful completion to the round would
provide great opportunities for developing countries looking to raise
the living standards of their people, many of whom live in dire
poverty. Providing developing countries with such opportunities will
help ensure global stability in the new century and is therefore in
the interests of all countries, rich and poor, they added. Mr.
Wolfensohn and Dr. Supachai agreed it was essential for advanced
countries to pare back agricultural subsidies and open their markets
to farm products from the developing world
if the trade round was to succeed.
two men supported closer co-ordination between the two institutions in
the area of technical assistance and capacity building as well, and
they agreed to enhance coherence in a series of joint projects aimed
at increasing trade negotiating capacity in developing countries. To
ensure WTO-World Bank cooperation at all levels, Dr. Supachai and Mr.
Wolfensohn have agreed that Bank and WTO staff will submit to the two
men half-yearly joint reports analysing coherence efforts and
underscoring those areas where improvement is required.