аЯрЁБс>ўџ ;=ўџџџ:џџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџџьЅС @ №ПО bjbjƒPƒP ,.с:с:˜%џџџџџџˆ‚‚‚‚‚‚‚–8Rf–fŽŽ"АААААА$ѕRGJ4‚‚ АА‚ ‚ 4‚‚ААIЎ Ў Ў ‚ j‚А‚АЎ ‚ Ў Ў ‚‚Ў А‚ 0цxPsЪь jЎ _0Ў ‘V ‘Ў ––‚‚‚‚Ў H‘‚і Аv& TЎ z DО ФААА44––„V X––REMARKS BY THE HON. ZHIVARGO LAING, MP MINISTER OF STATE MINISTRY OF FINANCE ON BEHALF OF THE COMMONWEALTH OF THE BAHAMAS AT THE PLENARY SESSION OF 7TH WORLD TRADE ORGANIZATION MINISTERIAL CONFERENCE December 2, 2009 Mr. Chairman, Director General, Ministers, Excellencies, Delegates: At this 7th World Trade Organization (АФУХСљКЯВЪЙйЭјзЪСЯ) Ministerial Conference, I wish to confirm my Government’s philosophy that economic development is facilitated by open, transparent and predictable trade policies. We, like many of the countries here, have been significantly impacted by the current global economic and financial crisis. We acknowledge, however, that the impact of the crisis, as bad as it has been, could have been that much worse if many countries chose to adopt measures to restrict trade. This did not happen, a fact no doubt influenced by the rules-based trading system of the АФУХСљКЯВЪЙйЭјзЪСЯ. The Doha Development Round represents an opportunity to further strengthen the global trading system and enhance the ability of all countries, including small and vulnerable countries, to participate more beneficially in the global trading system and world economy in which they operate by providing development-centred outcomes and appropriate technical assistance. In his opening address, the Director General noted that “trade in itself is not a magic potion. For trade to work, it has to be rooted in a bedrock of domestic policies that enable its potential gains to be realized. The commitments we negotiate here need to complement and support these domestic policies.” We fully endorse this statement by the Director General. Since gaining independence in 1973, the Government of The Bahamas has pursued policies which focus on the progressive development of the economy through strict respect for the rule of law, the adoption of market principles and respect for property rights. The pursuit of these policies has encouraged significant levels of both domestic and foreign investment in the economy which has led to sustained economic growth and stability. The Bahamas is a member of CARICOM, which, as a region, has been an integral part of efforts to highlight the special needs of Small Vulnerable Economies (SVEs), calling on all АФУХСљКЯВЪЙйЭјзЪСЯ members to ensure that the rules and processes of the organization are compatible with the peculiar needs of such countries. We support these efforts by our region. We would wish to have these factors taken into account as we seek to obtain АФУХСљКЯВЪЙйЭјзЪСЯ entry terms that are compatible with our development needs, aims and objectives and with the welfare of our people We in The Bahamas share many of the characteristics of small and vulnerable economies. Our share of international trade is extremely small. We are an open economy, a factor that makes us significantly vulnerable to external economic shocks, as the present global economic crisis clearly demonstrates. The domestic market is small and characterized by a large number of small and micro enterprises. Similar to other small and vulnerable economies, there is a narrow range of exports and few products shipped to a limited number of countries. We are one of twenty-nine countries now in the process of acceding to the World Trade Organization, having obtained observer status in 2001. We have no great endowment of natural resources and the Government is obliged to replicate its administrative and infrastructural amenities throughout all of the inhabited islands of The Bahamas, which now number twenty-nine. This places a heavy strain on our country with its small population and limited resources. We therefore call upon АФУХСљКЯВЪЙйЭјзЪСЯ members to take account of the unique vulnerabilities of countries such as The Bahamas during the accession process. We call upon members to ensure that the process allows for entry terms appropriate to the development needs of The Bahamas, ensuring that ours smooth entry into the World Trade Organization and further integration into the global trading system. It is well known by now that the АФУХСљКЯВЪЙйЭјзЪСЯ accession process is a complex one which is frequently overwhelming for acceding countries. For this reason, we support the steps by the АФУХСљКЯВЪЙйЭјзЪСЯ Director General, Pascal Lamy, particularly since the beginning of this year, to streamline the process, to make it more transparent and to ensure that it is a development-friendly one. To ensure an efficient negotiating process The Government of The Bahamas has already taken a number of steps, including the establishment of trade-related administrative structures in both the public and private sectors. We are actively considering the establishment of a permanent mission in Geneva and have undertaken a comprehensive review of all of the trade related legislation. We call on АФУХСљКЯВЪЙйЭјзЪСЯ members to support the accession process of The Bahamas, taking into account that we are a developing country, subject to vulnerabilities such as natural disasters, and already experiencing the effects of climate change to our coastal environment upon which our rural populations depend for fisheries and integral to our tourism product. In spite of these challenges, we indicated our commitment to the rules based system by participating in the first north-south trade agreement between the European Union and the CARIFORUM States that was signed in October 2008. We support the call by many members and acceding countries for an annual report by the АФУХСљКЯВЪЙйЭјзЪСЯ Director General on accessions, which would have as its objectives: (i) improving information exchange and transparency; (ii) setting objectives and priorities; and (iii) assisting acceding governments to navigate the accession process more easily. That is why, I wish to stress again how important it is that the unique vulnerabilities of countries such as ours are taken into account during the accession process and why entry terms must be agreed that are compatible with our development needs and positively supports our further integration into the global economy. We all have a stake in a properly functioning rules-based global trading system; the hopes, dreams and aspirations of our peoples can be advanced by it. We must work together not only to conclude the Doha Development Round but to make its gains manifest in the lives of our citizens. I thank you.     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