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Mr. Chairman,
Let me first congratulate you on assuming the chairmanship of this important Committee and other members of the bureau for their election.
I am confident that under your leadership, the committee will make meaningful progress in its work during this session.
I assure you of my delegation’s full support.
I take this opportunity to thank the outgoing Bureau for its able stewardship of the Committee during the previous session.
My delegation associates itself with the statement made by the distinguished representative of South Africa on behalf of Group of 77 and China.
Mr. Chairman,
Our leaders have just adopted the 2030 Agenda for Sustainable Development.
We have moved from the framework of inspiration to one of transformation.
Expanding the focus from human to core development issues has been a daunting undertaking.
The sustainable development goals (SDGs) are ambitious but match the challenges the world is facing today.
With poverty eradication at their core, SDGs aim to transform economies and livelihoods; build cohesive and peaceful societies; and protect our planet.
Achieving this milestone was not easy. Commitment, dedication and a shared vision resulted in this landmark achievement.
This accomplishment also reinforces the central role of the United Nations in the global economic and development spheres.
We need to consolidate these achievements during this year through effective follow up and robust implementation.
Mr. Chairman,
A revitalized global partnership together with scaled up and predictable means are fundamental to achieve these far reaching development goals.
This is not confined to official development assistance. We did not strive to put in place the traditional donor recipient relationship.
Nevertheless, fulfilment of assistance commitments by developed countries is critical to strengthen international development cooperation.
Transparency and timeliness in delivering on these commitments are extremely important. Effectiveness and results will only follow.
This is essential to create an enabling environment to mobilize public and private resources at all levels.
South-South cooperation has been playing an important role in promoting sustainable development and resilience in our countries.
There is new energy and dynamism in it, which has increased the scope of cooperation among countries of the South. We shall make full use of its potential.
However, South-South cooperation should complement North-South cooperation, which remains vital.
Mr. Chairman,
The Monterrey Consensus provides the framework for development financing to eradicate poverty, achieve sustained economic growth and build a fair and equitable global economic system.
We renewed these commitments at Doha to ensure predictable and additional development financing for developing countries.
Although we made progress on a number of accounts, regrettably most of the international commitments have not translated into tangible action.
The Addis conference on Financing for Development was held at a critical juncture while we were finalizing the new Agenda.
However, the Addis outcome could not secure commitments necessary to mobilize resources and create an enabling international economic environment for implementation of the new agenda.
A stable financial system and international policy environment remains critical for enhanced and predictable development financing.
At the same time, we firmly believe that sustained and inclusive economic growth and sustainable development cannot be achieved without sound domestic policies, domestic resource mobilization and good governance.
Mr. Chairman,
It is a matter of concern that the vital role of trade in development continues to be marginalized.
The development potential of trade needs to be unlocked through conclusion of the Doha round of trade negotiations, including meaningful results in agriculture and increased market access.
We need to decisively address the sources of impasse in the WTO trade negotiations and evaluate what political guidance can be provided to the WTO membership.
International capital flows, in particular foreign direct investment (FDI), should be encouraged to reach a wider circle of developing countries.
Policies and options that enable the private sector to overcome its short-term outlook and risk aversion will help build partnerships between the public and private sectors in support of development efforts.
External debt remains a major obstacle to development, economic growth and prosperity. Debt relief could release resources that can be directed to development activities.
A structured mechanism to address the issue of sovereign debt restructuring is critical. We need to fast track our efforts to establish a multilateral legal framework.
Mr. Chairman,
Climate change is one of the defining issues of our times.
It can undermine development gains achieved over time and also push people back into poverty.
This is ultimately a struggle for our very survival. Partisan interests and profits must not stand in the way of an ambitious and collective commitment to halt and reverse the damage done to our planet.
Later this year in Paris, we will need to respond with common but differentiated responsibility to the threat posed by Climate Change.
The Paris agreement should be holistic in nature, covering all aspects including mitigation, adaptation, finance and technology support.
Mr. Chairman,
Finally, I assure you of my delegation’s continued and constructive engagement during deliberations of this committee.
I thank you.