A/RES/60/184 finance, technology, investment and sustainable development as reaffirmed by the São Paulo Consensus, Noting the significant contribution of the multilateral trading system to economic growth, development and employment and the importance of maintaining the process of reform and liberalization of trade policies, as well as the importance of rejecting the use of protectionism, so that the system plays its full part in promoting recovery, growth and development, in particular of developing countries, bearing in mind paragraph 10 of its resolution 55/182 of 20 December 2000, Taking note of the report of the Trade and Development Board 11 and its statement, as well as the report of the Secretary-General, 12 1. Reaffirms the value of multilateralism to the global trading system and the commitment to achieving a universal, rule-based, open, non-discriminatory and equitable multilateral trading system that contributes to growth, development and employment generation, and emphasizes that bilateral and regional trading arrangements should contribute to the multilateral trading system; Underlines the fact that the increasing interdependence of national 2. economies in a globalizing world and the emergence of rule-based regimes for international economic relations have meant that the space for national economic policy, that is, the scope for domestic policies, especially in the areas of trade, investment and industrial development, is now often framed by international disciplines, commitments and global market considerations, that it is for each Government to evaluate the trade-off between the benefits of accepting international rules and commitments and the constraints posed by the loss of policy space and that it is particularly important for developing countries, bearing in mind development goals and objectives, that all countries take into account the need for appropriate balance between national policy space and international disciplines and commitments; Stresses the importance of open, transparent, inclusive democratic and 3. more orderly processes and procedures for the effective functioning of the multilateral trading system, including in the decision-making process, so as to enable developing countries to have their vital interests duly reflected in the outcome of trade negotiations; Reiterates that development concerns form an integral part of the Doha 4. Ministerial Declaration,4 and reaffirms the commitments made in the decision of 1 August 2004 of the General Council of the World Trade Organization5 to fulfil the development dimension of the Doha Development Agenda, which places the needs and interests of developing countries, especially the least developed among them, at the heart of the Doha work programme;4 5. Expresses its concern over the lack of progress in areas of negotiations of particular concern to developing countries, which led to missing deadlines provided in the decision of the General Council of the World Trade Organization; Welcomes the recent “aid for trade” initiative to address the adjustment 6. challenges as well as to build the supply and trade capacities, infrastructure and institutions of developing countries, and stresses the need for the effective _______________ 11 12 Ibid., Supplement No. 15. A/60/225. 3