“The rich should not dominate the poor in the name of globalisation,”– President in Singapore

[October 14, 2003 - 11.00 GMT]

“Globalisation should be managed in a manner where the developing nations would have the space and the freedom to become partners of the globalized economy, while their specific needs and their right to make their own economic policy choices is recognized,” said President Kumaratunga in her address at the East Asia Economic Summit in Singapore.

“The principles that underlie decisions on trade must definitely be the same for the developed and developing nations. Policies regarding subsidies and competitive markets must be the same for all States,” she asserted “We do not wish to be dictated to”.

The East Asia Economic Summit on the theme “Asia’s future recapturing dynamism” conducted by the World Economic Forum concluded today in Singapore.

President Kumaratunga said the powerful nations cannot and should not ignore the developing world, which has contributed hugely to the wealth and progress of the developed nations in raw materials, natural resources and manpower.

More than 800 business leaders and politicians attend the Summit to reflect upon successes and failures in sustainable economic development in their regions.

Full text of the speech

President in Singapore on state visit and for world economic summit

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Last Updated Date: October 14, 2003  -11.00 GMT.