..Press Release................................ UNESCAP News Services

Date 4 November 2004
Press Release No: G/29/2004

OECD Global Forum on Trade and Structure Adjustment, 3-4 November 2004, Bangkok

PUBLIC CONCERNS ABOUT GLOBALIZATION SHOULD BE ADDRESSED

Bangkok (United Nations Information Services) - The OECD Global Forum on Trade has highlighted the need to respond to public concerns about globalization if the opportunities from international trade and investment are fully realized.

"If we do not respond to public concerns about globalization, reaction to these concerns will constrain the potential of the present trade negotiations to open markets," OECD Secretary-General Mr. Kiko Akasaka said.

"There are legitimate concerns related to adjustment and the potential losers in the process. It should be possible to prepare appropriate economic and social policies that go well beyond trade on such issues as the need for a social safety net," he said.

Executive Secretary of UNESCAP Mr. Kim Hak-Su stressed the importance of policy to balance economic gains with social benefits.

"Policies that balance costs with benefits, and equity with efficiency will influence the quality of every nation's engagement in the global economy over the longer term," he said.

The OECD Global Forum on Trade and Structural Adjustment on 3-4 November 2004 is being hosted in cooperation with UNESCAP, OECD, World Bank and the Government of Thailand.

Thailand trade representative and Special Envoy of the Prime Minister of Thailand H.E. Dr. Kantathi Suphamongkhon said that economic strategies based on import substitution are doomed to failure.

"Countries, especially developing countries, must integrate into the world economy. This is where real opportunities for success are. This is where sustainable benefits can be realized," he said.

The Trade Forum features two case studies of adjustment challenges: the textiles and clothing sector and the motor vehicle sector.

The OECD Global Trade Forum brings trade policy makers, academics, industry representatives and experts from OECD and non-OECD countries together to discuss the challenge and opportunities of trade-related structure adjustment.

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