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Foreign Minister participated in a high level UN Conference on Financing for Development

22.03.2002

Foreign Minister Kristiina Ojuland, attending the UN International Conference on Financing for Development in Monterrey, Mexico, stressed that the key to successful development lay in the stability of political reforms and a consensus among political parties on the basic goals. "There is a direct link between trade liberalisation and economic development," the minister said. "Estonia, with a volume of foreign trade nearly twice the nation's GDP, is a prime example of that," Ms Ojuland asserted.

At the UN-hosted summit meeting held from 18-22 March, 58 heads of state and government participated, among them US President George W. Bush, President Jacques Chirac of France and President Tarja Halonen of Finland. UN Secretary General Kofi Annan and the President of the European Commission Romano Prodi also attended the conference.

On 21 March Foreign Minister Ojuland chaired a roundtable under the auspices of the UN Business Council (BCUN), in which officials from Korea, the Czech Republic, Poland and Mexico shared their experience regarding liberalisation of investments. Minister Ojuland also spoke about the foundation for the success of Estonia's reforms, emphasizing that the precondition warranting economic growth was political stability.

The document adopted at the conference, the Monterrey Consensus, expressed the joint standpoint of the developing and developed countries on how to guarantee the necessary monetary resources for attaining the goals laid down in the Millennium Declaration, for instance, reducing by half the gravest poverty by the year 2015.

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