The document describes the socio-economic and cultural considerations related to the use and release of genetically modified organisms (GMOs). Socio-economic impacts of any technology take years to become evident. GMOs may cause both ecological and socially irreversible changes. The fundamental ethical and social debates emanating from the fact that GMOs involve manipulation of life forms and processes, as well as the socio-economic and ecological impacts of GMO contamination, are among the many aspects that are unique to this particular technology. Even when the technology is withdrawn or people totally discontinue adopting the technology, its socio-economic impacts may persist and leave a permanent imprint in society, its history and its people. This is even more serious in GMOs, which may introgress with wild populations or contaminate conventional crops long after farmers decide to stop planting GM crops. The document underlines the critical importance of assessing the potential socio-economic impacts of GMOs before and during their introduction in any societal context.