'Emergent India: New roles and new responsibilities' - WTO
18 Jan '07
2 min read
Speeches — DG Pascal Lamy: I am very happy to join you all in Bangalore under the theme “Emergent India: New roles and new responsibilities”. And doing this in Bangalore is no coincidence. India's third largest city, accounting for 35% of India's software exports and home to prestigious college and research institutions in areas such as IT or biotech, Bangalore is today an example of how globalisation and openness can bring huge opportunities and benefits to our citizens.
But with success also comes challenges: air pollution, traffic congestion or infrastructure needs are just a few. These are also the results of globalisation and if we want it to be acceptable to all of us, we must also address those challenges head-on, as the title of this conference suggests.
Trade is one of the manifestations of globalisation, with its positive effects but also its downsides. Today it is clear that the sole work of market forces will not be enough to spread the benefits of globalisation to all and that we have to develop instruments to harness globalisation, ensuring that both developed and developing countries benefit alike from it and that those in our societies who suffer from the transformations that globalisation bring about are adequately taken care of.
One of the tools at our hands to harness globalisation is the multilateral trading system, the WTO, hence the Round of negotiations launched in 2001 in Doha under the banner “Doha development Agenda”.It is intended to rebalance the world trading system in favour of developing countries, through greater market opening and new trade rules adapted to the new changing trading realities of the XXI century.
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