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Minister for Trade Simon Crean has called for early political engagement in 2010 to conclude the Doha Round, after last week’s discussions at the Seventh WTO Ministerial Conference. “While the purpose of this WTO Ministerial meeting was not to hold detailed Doha negotiations, Ministers have committed to meet again early next year, to enable us [...]
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Australia should be held as a model for developing countries struggling to recover from the global economic downturn, according to World Bank managing director Juan Jose Daboub. In two decades, Australia has undergone economic reform – macroeconomic stability, flexible labour markets and fostering an open economy – which has contributed to its success in avoiding [...]
...read moreThe World Bank has given more than US$58 billion to developing nations to help them mitigate the effects of the global economic crisis. The record amount is a 54 percent increase on last year’s amount. The increased financial assistance comes following an unprecedented number of requests for support. “Millions of people are still suffering, and [...]
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Developing economies will grow just 1.2 percent this year, down from 5.9 percent growth last year and just a fraction of the 8.1 percent growth recorded in 2007. However, without growth from China and India, gross domestic product in the remaining countries will fall by 1.6 percent, predicts the bank, “causing continued job losses and [...]
...read moreAustralia will boost its trade assistance to developing countries through the World Trade Organisation (WTO), lifting financial commitment from $1 million to $2.5 million. Minister for Trade Simon Crean and Parliamentary Secretary for International Development Assistance Bob McMullan announced the new funding yesterday. Of the amount, $1.75 million will go to the WTO Doha Development [...]
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