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The Earth Times | Posted March 22, 2002



FINANCING FOR DEVELOPMENT
Each country can blaze its own development path
> BY TORI KATZ AND JAY NEWTON-SMALLL
Copyright © 2002 by The Earth Times. All rights reserved


MONTERREY, Mexico -- Mexican President Vicente Fox said a new spirit of world understanding had been generated in Monterrey this week at the International Conference on Financing for Development. Fox, who presided over the conference, summed up the week and today's retreat of 51 heads of state for reporters. "This conference generated a new spirit that gave a clear understanding that each country can blaze its own development path," he said.

UN officials told The Earth Times that the new pledges from Europe and Washington of more help for the world's poor after years of decline in development funding had created a new mood of hope and saved Monterrey from an embarrassing stalemate.

"Here we have learned that globalization is not a panacea and that it involves contradictions and that it is only a mode or form of development," Fox said. "In globalization lies the potential, in a sense, to lead to a better world. However, with globalization we must remember that there is equality within diversity and we have to respect each other's differences and avoid the blurring of identities. My colleagues and I have agreed that the least developed countries should improve their institutions and corporate practices-they should advance with honesty, transparency, and know that a democracy is a fundamental ingredient for development." Fox said that leaders agreed on the need for periodic assessments and on more clearly defined goals that would make monitoring and follow-up more effective. The "encouraging" new process started by the UN had begun with the Doha trade round which he said had achieved "crystal clear" commitments.

"But the right global conditions are necessary because even the best of efforts will fail without an opening of markets and access to the appropriate technology," Fox said.

He later received Bush for bilateral talks, at which they agreed to tighten security along their joint border. Bush also announced an estimated $30 million in new aid for regions of Mexico that have been the origin of illegal emigration to the US.

"Every day more than $560 million in commerce between the US and Mexico creates wealth and opportunities on both sides of the border," said Bush. "We plan on extending this to all of our citizens, creating more jobs and more opportunities more efficiently and with more security. This border declaration that we have just signed underlines this goal. It must be closed to drugs and terrorists, but open to trade."

Officials said they would be unlikely to reach a breakthrough on contentious issues such as Mexico's push to legitimize the status of Mexican workers in the United States. Instead, the two countries will boost border security while adopting technologies to help speed the flow of legitimate trade and immigration.

Bush has asked Congress for $11 billion for border security in his 2003 budget. It includes $380 million for the Immigration and Naturalization Service to build a modern "entry-exit" system.

The long-term goal is to give Mexicans from poorer regions an incentive to seek jobs at home, easing the bilateral strain caused by illegal immigration. Mexican workers in the US sent more than $9 billion in remittances to Mexico last year. To address such issues, Bush and Fox announced an expansion of the North American Development Bank.


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