São Paulo consensus was adopted at its eleventh quadrennial conference in June 2004 - UNCTAD XI - held in Brazil.

It complements effectively the Bangkok Plan of Action to form a solid basis to build upon on the road to its twelfth session in 2008. In this frame, the São Paolo Consensus par. 74 recognized, inter alia, that "relevant suggestions contained in the report of the Meeting of Eminent Persons on Commodity Issues and the relevant outcome of discussions at the fiftieth session of the Trade and Development Board and in the General Assembly on the report should be given serious consideration.