Reinaldo Figueredo, Director of the Global Programme, yesterday warned oil-exporting countries not to seek economic liberalization as an end it itself.

Speaking in Algiers during the Algerian Energy Week, he said that while liberalization was important, any outward-looking development strategy required sustainable domestic investment and sound civil and political institutions as a prerequisite for global integration.

He also offered specific advice for oil-exporting countries negotiating their accession to the World Trade Organisation, warning them not to rush in and to coordinate with other acceding countries.

In seeking the best intersts for their energy sectors, such countries needed to take stock of their commitments to date. Many international norms on competition and trade could be applied to the energy sector, he said, and governments therefore had to be careful.

A background note of the speech can be downloaded by clicking here.

An additional note in Spanish can be downloaded by clicking here.