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China urged in Geneva Tuesday that the interests of the developing world should be taken fully into account and priority should be given to issues of particular concern to them when setting the rules for the international economy.
At a meeting of the UN Conference on Trade and Development (UNCTAD), the Chinese delegation said the developing countries should receive help to boost their ability to participate in the new round of multilateral trade negotiations.
China pointed out the slow progress in the new round trade talks and the failure of the World Trade Organization conference in Cancun highlighted the imbalances that exit in the current multilateral trading system.
The delegation said the imbalances in the multilateral trading system have to a certain degree widened the gap between the rich in the North and the poor in the South.
It urged that in addressing issues on trade and development in the context of globalization, UNCTAD should continue to play its positive role in promoting consensus between the North and the South on issues concerning the development of world economy.
UNCTAD is right now holding its 50th session of its Trade and Development Board which starts on Oct. 6 and ends on Oct. 17.
(Xinhua News Agency October 8, 2003)
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