A global step
A global step
Posted 01:01am (Mla time) Feb 15, 2005
Inquirer News Service
Editor's Note: Published on page A14 of the February 15, 2005 issue of the Philippine Daily Inquirer.
SOME people have the impression that the World Economic Forum is just one huge talkfest where participants discuss problems and issues to death. This year's annual meeting, held last Jan. 26-30 at Davos, Switzerland, should correct this impression; it took some concrete measures that would help relieve some of the most pressing economic, social and political problems of the world.
Poverty was the No. 1 issue on the agenda of the Forum this year. To help meet this problem, world leaders at the Forum urged the cancellation of the debts of the poorest nations. The initiative taken at the annual meeting appears to be having results. At a meeting of the G-7 held several days after the Forum, the world's richest countries agreed for the first time to pursue a 100-percent write-off of the $70 billion owed by the poorest nations to big institutions like the World Bank.
The Forum urged the implementation of a proposed international financing facility that would deliver aid to the poorest countries at a more rapid and predictable rate.
Australian Prime Minister John Howard said the single biggest contribution the developed world could make to alleviate poverty was to break down trade barriers. He said that "trade access is worth far more to underdeveloped countries than development assistance." To promote equitable globalization (which was the No. 2 issue on the agenda) and make trade fairer, the participants urged negotiators to complete the Doha Agenda of trade talks to enshrine the principles of reciprocity, free trade and the liberalization of trade in services.
Climate change was the No. 3 item on the agenda. Forum participants made recommendations on how to help halt the deterioration of the environment and prevent further changes in the global climate.
During the Forum's annual meeting, British Prime Minister Tony Blair hosted a roundtable with senior executives of leading businesses from around the world to discuss climate change and the challenges it presents to the global business community. The Forum and Greenhouse Gas Register agreed with the Carbon Disclosure Project, a collaboration of more than 100 investors with more than $17 trillion in assets, to increase the engagement of the corporate and investment community in tackling the problem of greenhouse gas emissions and carbon risk.
On education, the No. 4 item on the Forum's agenda, the participants urged that education be made available to all girls and women to eliminate gender disparities and to add the potential that women bring to the world's work force. They agreed that aid should be given to the developing world in a way that recognizes and preserves the dignity of the people.
The Middle East was the No. 5 item on the Forum's agenda. During the annual meeting, Israeli and Palestinian officials agreed that a window of opportunity to end the long-standing conflict was possible. They noted that the meeting was the first in a long time for both sides to come together in a public venue. Israeli Vice Premier Ehud Olmert said that "the most important thing is to set the right priorities to take the process forward."
Yasser Abbed Rabbo of the Palestinian Authority said that with the recent election of President Mahmoud Abbas, there would be a new beginning for the peace process. And indeed, the ceasefire that was declared a few days after the Forum augurs well for the future of Israeli-Palestinian relations.
On aid to the developing nations, some leaders had expressed concerns that it might just go into private pockets unless something was done about the problem of corruption. The private sector took the initiative on this, and 62 corporate leaders at the Forum signed a commitment on a zero-tolerance policy on bribery and corruption. The Partnering against Corruption Initiative, in collaboration with Transparency International, facilitated agreement by companies in three industry sectors on the Partnering against Corruption Principles for Countering Bribery.
The president of the European Bank for Reconstruction and Development agreed to explore the inclusion of anti-bribery language as part of the bidding process for infrastructure projects along the lines of an earlier agreement between PACI and the World Bank in 2004.
As measures go, the recommendations made and the initiatives taken at the World Economic Forum may be described by some as just nibbling at huge chunks of problems that have plagued the world for decades, if not centuries. But at least something concrete is being done. Political, economic and social leaders demonstrated at Davos that something concrete could be done about the world's most urgent problems if only they themselves would have the determination and political will to solve them.
Posted 01:01am (Mla time) Feb 15, 2005
Inquirer News Service
Editor's Note: Published on page A14 of the February 15, 2005 issue of the Philippine Daily Inquirer.
SOME people have the impression that the World Economic Forum is just one huge talkfest where participants discuss problems and issues to death. This year's annual meeting, held last Jan. 26-30 at Davos, Switzerland, should correct this impression; it took some concrete measures that would help relieve some of the most pressing economic, social and political problems of the world.
Poverty was the No. 1 issue on the agenda of the Forum this year. To help meet this problem, world leaders at the Forum urged the cancellation of the debts of the poorest nations. The initiative taken at the annual meeting appears to be having results. At a meeting of the G-7 held several days after the Forum, the world's richest countries agreed for the first time to pursue a 100-percent write-off of the $70 billion owed by the poorest nations to big institutions like the World Bank.
The Forum urged the implementation of a proposed international financing facility that would deliver aid to the poorest countries at a more rapid and predictable rate.
Australian Prime Minister John Howard said the single biggest contribution the developed world could make to alleviate poverty was to break down trade barriers. He said that "trade access is worth far more to underdeveloped countries than development assistance." To promote equitable globalization (which was the No. 2 issue on the agenda) and make trade fairer, the participants urged negotiators to complete the Doha Agenda of trade talks to enshrine the principles of reciprocity, free trade and the liberalization of trade in services.
Climate change was the No. 3 item on the agenda. Forum participants made recommendations on how to help halt the deterioration of the environment and prevent further changes in the global climate.
During the Forum's annual meeting, British Prime Minister Tony Blair hosted a roundtable with senior executives of leading businesses from around the world to discuss climate change and the challenges it presents to the global business community. The Forum and Greenhouse Gas Register agreed with the Carbon Disclosure Project, a collaboration of more than 100 investors with more than $17 trillion in assets, to increase the engagement of the corporate and investment community in tackling the problem of greenhouse gas emissions and carbon risk.
On education, the No. 4 item on the Forum's agenda, the participants urged that education be made available to all girls and women to eliminate gender disparities and to add the potential that women bring to the world's work force. They agreed that aid should be given to the developing world in a way that recognizes and preserves the dignity of the people.
The Middle East was the No. 5 item on the Forum's agenda. During the annual meeting, Israeli and Palestinian officials agreed that a window of opportunity to end the long-standing conflict was possible. They noted that the meeting was the first in a long time for both sides to come together in a public venue. Israeli Vice Premier Ehud Olmert said that "the most important thing is to set the right priorities to take the process forward."
Yasser Abbed Rabbo of the Palestinian Authority said that with the recent election of President Mahmoud Abbas, there would be a new beginning for the peace process. And indeed, the ceasefire that was declared a few days after the Forum augurs well for the future of Israeli-Palestinian relations.
On aid to the developing nations, some leaders had expressed concerns that it might just go into private pockets unless something was done about the problem of corruption. The private sector took the initiative on this, and 62 corporate leaders at the Forum signed a commitment on a zero-tolerance policy on bribery and corruption. The Partnering against Corruption Initiative, in collaboration with Transparency International, facilitated agreement by companies in three industry sectors on the Partnering against Corruption Principles for Countering Bribery.
The president of the European Bank for Reconstruction and Development agreed to explore the inclusion of anti-bribery language as part of the bidding process for infrastructure projects along the lines of an earlier agreement between PACI and the World Bank in 2004.
As measures go, the recommendations made and the initiatives taken at the World Economic Forum may be described by some as just nibbling at huge chunks of problems that have plagued the world for decades, if not centuries. But at least something concrete is being done. Political, economic and social leaders demonstrated at Davos that something concrete could be done about the world's most urgent problems if only they themselves would have the determination and political will to solve them.
posted by Dante at 1:01 AM
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