others risk marginalisation, and are thus unable to fully share in the benefits of these processes, while they remain most vulnerable to adverse impacts. In this regard, they expressed their deep concern about the tendency by developed countries to take decisions that affect the world economy outside the multilateral framework of the United Nations System and without giving full considerations to the interests of developing countries.
The Ministers reaffirmed also their commitment to the implementation of the Monterrey Consensus of the International Conference on Financing for Development and in this regard stressed the importance of ensuring proper follow-up to and implementation of the commitments made and agreements reached at this Conference.
The Ministers took note, with appreciation, of the report of the World Commission on Social Dimension of Globalisation and urged the international community, in particular international financial and trade institutions and the UN organizations to give full consideration to the proposals and recommendations contained therein in order to make globalisation work for all the world’s peoples.
The Ministers remained deeply concerned over the fact that developing countries are shouldering a disproportionate share of the adjustment burden, taking into consideration the rapid changes and transformations of the world economy. They called upon the international community, in particular the financial and development multilateral institutions such as the World Bank and the International Monetary Fund, to establish innovative and new financial mechanisms to support developing countries to meet their immediate social and economic needs as they implement their long-term development programmes.
The Ministers emphasised the need for a New Global Human Order aimed at reversing the growing disparity between rich and poor, both among and within countries through, inter alia, the eradication of poverty and the promotion of sustained economic growth and sustainable development. In this regard, they called for strengthened solidarity and the elaboration of consensus for action, with specific measures and clearly defined timeframes.
The Ministers also emphasised that the effective implementation of the outcomes of major United Nations conferences and summits, including the Millennium Summit, will require political will to fulfil the commitments undertaken particularly in making available the means of implementation.
Revitalising International Co-operation for Development
The Ministers emphasised the importance of the achievement of the objectives of poverty eradication, economic and social progress, sustained economic growth and sustainable development depends on a more favourable and equitable international economic environment and revitalised international development co-operation supportive of developing countries' efforts, in the context of developing countries’ increasing openness and exposure to international trade. They noted that, as the second largest grouping of developing countries, member states of the Movement bear an enormous task to put their people and their well-being as their first priority, and must therefore act decisively and immediately to win the war against poverty. They agreed to work towards forging stronger partnerships in creating an enabling environment that would assist developing