The World Economic Development Declaration Conference (WEDDC) issued the Zhuhai Declaration here Thursday on the first day of the conference.

The declaration, also called the World Economic Development Declaration, contains nine main parts dealing with interdependence, scientific and technological progress, efficient use of resources, sustainable development, distribution, competition, financing of economic development, economic development and education, human factors in the economic development.

The declaration aims to promote the establishment of a new world economic era featuring equality, mutual benefit, interdependence and common development, and achieve the Millennium Development Goals as determined by the UN Millennium Summit.

Participants of the conference agreed that peace and development are the common aspirations of people of all countries and are the main themes of today's world. Peace is the basis for development and development promotes peace. It is everyone's common duty to promote world economic development and safeguard the world peace with "equality, credibility, cooperation and development" as the basic criteria.

According to the declaration, under market economy conditions, countries and economies of the world trade in goods and services with and invest in each other. Science and technology play an important role in economic development. All kinds of the finite natural resources should be used according to the laws of science in an efficient way and global economic resources should be distributed in an optimum manner.

Sustainable development was also stressed in the declaration. Man should coexist with nature in harmony so that people, resources and ambiance interact with each other in a perfect circle, thus offering a favorable environment for a steady economic growth and ensuring the sustainable economic development of the world.

The declaration pointed out that increasing incomes and wealth should be fairly distributed among all countries and within each country. Competition is conducive to production, economic growth and efficient use of limited resources.

A more fair and reasonable financial system for supporting world economic development must be set up to facilitate the flows of funds, and to increase the transparency of the flows of funds among the nations and markets. Education and skill development should be promoted for all peoples of the world.

(Xinhua News Agency November 6, 2003)

The following is the full text of the Zhuhai Declaration.

Zhuhai Declaration
(The?World Economic Development Declaration)

?
Peace and development are the common aspiration of people of all countries and are the main themes of today's world. Peace is the basis for development and development promotes peace. It is our common duty to promote world economic development and safeguard world peace with “equality, credibility, cooperation and development” as the basic criteria.
In order to promote the establishment of a new world economic era featuring equality, interdependence, mutual benefit and common development, and achieve the Millennium Development Goals as determined by the UN Millennium Summit, we, Nobel Prize laureates, economists, representatives of international organizations, leaders of enterprises from developing countries and developed countries and people of all walks of life, who have shown their concern and support for peace and development, jointly issue the World Economic Development Declaration (the Zhuhai Declaration):

1. Interdependence

Under market economy conditions, countries and economies of the world trade in goods and services with and invest in each other. Closed countries and economies cannot effectively participate in the world economy, thus compromising their economic growth. Therefore, all countries and economies must be open, interdependent, and develop together, according to the principles laid down by the United Nations and the World Trade Organization.

2. Scientific and Technological Progress

Science and technology play an important role in economic development. Science and technology should be conducive to the establishment of a highly efficient and rational economic system. Progress in science and technology should promoted and the achievements in this field be applied wisely and the advanced technical transfers from economically developed countries to developing countries should be promoted so as to accelerate the economic growth of all countries and enhance the livelihood of the people.

3. Efficient Use of Resources

All kinds of the finite natural resources, including air, water, manpower, energy and raw materials, etc., should be used according to the laws of science in an efficient way and global economic resources should be distributed in an optimum manner.

4. Sustainable Development

Man should coexist with nature in harmony so that population, resources and ambiance interact with each other in a virtuous circle, thus offering a favorable environment for a steady economic growth and ensuring the sustainable economic development of the world.

5. Distribution

Increasing incomes and wealth should be fairly distributed among all countries and within each country. Elimination of poverty is the key step to reach a fair distribution of income. The developing countries should carry out economic reform and enhance their national capability of creating wealth and the developed countries should help the developing countries in their economic construction with their practical measures of assistance and reduction or exemption of debts, so as to facilitate the elimination of poverty, the improvement of the relations between the South and the North, thus serving the well-being of all people in the world, irrespective of their sex, race, culture and religion.

6. Competition

Competition is conductive to production, economic growth and efficient use of limited resources. Credibility and legal system are the basis and safeguard of competition. Nations and producers in the world should be encouraged to compete with each other in a fair and proper manner. In order to promote the development of the world economy, monopolies should be opposed as they could impede trade and equal opportunities.

7. Financing of Economic Development

A more fair and reasonable financial system for supporting world economic development must be set up to facilitate the flows of funds, and to increase the transparency of the flows of funds among the nations and markets, thus keeping a stable economic environment and allowing the achievements of investment and international trade to benefit all nations.?

8. Economic Development and Education

Education and skill development should be promoted for all people of the world, no matter which country or region they come from and regardless of their race, sex and income level, to improve the population quality. Human resources should be vigorously developed to facilitate economic development.
9. Human Aspects in the Economic Development

Man and the harmony between man and nature are important conditions for economic development. All the economic activities should serve the well-being and the elimination of poverty of all people. Human beings are both producers and consumers. Producers should be encouraged to provide consumers worldwide with quality products and top-notch services to accomplish the long-term well-being of all people. This is an eternal principle that all our actions shall follow.?
We are ready to work together with governments, enterprises and social strata, who are committed to world peace, human common progress and development, to build a glorious 21st century.