Yearbook of the United Nations, 2004. Part 3, Economic and social questions. Chapter 4, International trade, finance and transport
In 2004, international trade continued to grow, with the volume of world merchandise trade increasing markedly by an estimated 10.5 per cent, from 6.2 per cent in 2003. As manufacturing gathered pace and domestic demand improved in more economies, the brisk economic environment further raised the prices of commodities and manufactures, resulting in a nearly 19 per cent increase in the dollar value of global trade, to $8.6 trillion. Although developed countries, particularly North American States and Japan, accounted for much of the growth, many developing countries and economies in transition also experienced remarkable trade performance. In June, the United Nations Conference on Trade and Development (UNCTAD) held its eleventh session, UNCTAD XI, in São Paulo, Brazil. The Conference concluded with the adoption of The Spirit of São Paulo, a declaration by which member States reaffirmed their commitment to support UNCTAD in fulfilling its mandate as the UN focal point for the integrated treatment of trade and development and for improving the coherence of the international-monetary, financial and trading systems in order to respond better to development needs. The Conference also adopted the São Paulo Consensus, a policy statement and analysis confirming the 2000 Plan of Action adopted by UNCTAD X, as the guide to the future work of UNCTAD. The General Assembly stressed the need to implement the Consensus, and invited UNCTAD to analyse the role of enterprise development in alleviating poverty in the least developed countries. Unprecedented diplomatic efforts during the year enabled the resumption of multilateral trade negotiations under the Doha (Qatar) work programme adopted at the 2001WorldTrade Organization (WTO) Ministerial Conference. The talks culminated on 1 August in the adoption by the WTO General Council of a decision setting out frameworks for future negotiations in the areas of agriculture, non-agricultural market access, development issues, services and trade facilitation. In April, the high-level meeting between the Economic and Social Council and the Bretton Woods institutions (the World Bank Group and the International Monetary Fund) discussed coherence, coordination and cooperation in the context of the implementation of the Monterrey Consensus, adopted at the 2002 International Conference on Financing for Development. Also during the year, a study commissioned by the United Nations proposed innovative sources of financing for development. The Trade and Development Board, the governing body of UNCTAD, adopted agreed conclusions on the review of progress in the implementation of the Programme of Action for the Least Developed Countries for the Decade 2001-2010 and recommended that the outcomes of UNCTAD XI be considered when allocating resources to the Programme for the 2006-2007 biennium. The Board adopted further agreed conclusions on economic development in Africa: issues relating to Africa's debt sustainability, and a decision on the review of UNCTAD technical cooperation activities.
Yearbook of the United Nations, 2004. v. 58; Vol. 58
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