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Dismantle trade barriers: Commonwealth

The Commonwealth Heads of Government Meeting today called for dismantling of trade barriers so as to provide a greater market access to developing nations in the field of agriculture, industrial products and services.

The Fancourt Declaration adopted by the summit said the global community should establish innovative mechanisms to promote capital flow to a wider number of countries and urgently ''initiate reform of international financial architecture to minimise financial instability and its impact on the poor.''

Although the leaders remained engaged for three days on the Pakistan issue, the thrust of the summit was on globalisation and its impact on developing and least developed nations.

The leaders urged the forthcoming ministerial meeting of the World Trade Organisation to launch the next round of global negotiations on trade with a pronounced developmental dimension to achieve better market access in agriculture and industrial products and services in a way that benefits all developing nations.

The summit also demanded upholding of labour standards and protection of environment. But these must be addressed in an appropriate way, it said. They must not be linked to trade liberalisation, as it would effectively end up impeding free trade and causing injustice to developing countries.

UNI

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