Vice Finance Minister Li Yong called on the developed countries
on Friday to increase their official development assistance (ODA)
and expand their market access to developing countries.?
In a statement at the 73rd ministerial meeting of Group 24 held
in Washington before the joint spring meeting of the International
Monetary Fund (IMF) and the World Bank, Li said that the developing
countries are still facing severe challenges in achieving the
Millennium Development Goals (MDGs) set by the United Nations
despite the enormous efforts by those countries.
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The flow of ODA from developed countries only accounts for 0.23
percent of their gross national income and those countries should
take further actions to move toward the 0.7 percent target as soon
as possible, he said.
Li also said that a multilateral, reciprocal, non-discrimination
world trade is at the core of the Doha Development Round of trade
negotiations and is an effective way to help developing countries
in their economic development and poverty reduction.
Developed nations should expand their market access to
developing countries and eliminate agricultural subsidies so as to
ensure the success of the Doha Round negotiations, Li said.
He also called on the developed countries to increase technology
transfer to developing countries and reduce restrictions on free
and orderly flow of factors, including labor force, in the process
of promoting trade.
The Intergovernmental Group of Twenty-four on International
Monetary Affairs and Development (G24) consists of 24 developing
countries.?
(Xinhua News Agency April 16, 2005)