The main objective should be to realign the quota formula to meet the current global reality. The fundamental reform has to come by giving greater share to the under-represented countries while that of the over-represented countries would need to come down. The challenge today is to achieve this reform through a new, simple, transparent and linear quota formula.
We believe that this is possible if we work towards a new quota formula that seeks to achieve two outcomes. First, such a formula must result in the rebalancing of quota shares in keeping with the economic changes that have taken place globally. Second, and equally important, is the objective that quota shares of low-income countries are protected to the fullest extent possible.