Bold global trade action needed to cut world poverty: Annan

Secretary-General Kofi Annan has urged wealthy nations to take bold action this year to liberalise global trade and help developing countries escape poverty, calling the lack of progress “perilous”.

Annan’s appeal for a successful conclusion to negotiations on lowering trade barriers was backed by top officials from the World Trade Organisation, the International Monetary Fund and the World Bank at a meeting focusing on efforts to meet UN goals to cut extreme poverty in half by 2015.