Statement at the Closing of the United Nations Conference on the World Financial and Economic Crisis and its Impact on Development

Statement by Mr. Sha Zukang, Under-Secretary-General for Economic and Social Affairs at the Closing of the United Nations Conference on the World Financial and Economic Crisis and its Impact on Development New York, 30 June 2009

Mr. President,
Distinguished delegates,
Ladies and Gentlemen,

I am honoured to represent the Secretary-General at this closing of the United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development.

First of all, I wish to congratulate the Convener and the President of this Conference, H.E. Mr. Miguel d’Escoto Brockman. Following on the Doha Declaration last December, your leadership and determination have been instrumental in bringing about the important global dialogue that has taken place here.

My appreciation also goes to the two Facilitators of the preparatory process – Ambassador Frank Majoor of the Netherlands and Ambassador Camillo Gonsalves of Saint Vincent and the Grenadines – who have skilfully guided the negotiations on the outcome document, adopted last Friday.

The United Nations Secretariat has been honoured to support the Conference and its preparatory process over the past several months.

The success of the Conference, of course, belongs most of all to the Member States. You created an open, transparent and inclusive preparatory process. And through extensive consultations and intergovernmental negotiations – through sheer political will and hard work – you have achieved a consensus outcome.

I would also like to recognize the important role played by all stakeholders, including many intergovernmental and regional organizations, civil society and the business community, as well as the family of United Nations system organizations. Your perspectives and substantive inputs have been highly valued.

In the words of the outcome document, “this Conference represents a milestone in an ongoing and concerted engagement by all States Members of the United Nations to address the crisis and its impact on development”. Indeed, the outcome of the Conference has set forth a global consensus on the causes, impacts and responses to the current crisis; prioritized the prompt and decisive actions that will be required; and defined a clear role for the United Nations.

The agreed elements of a coordinated and comprehensive global response are aimed at making the stimulus and other recovery efforts work for all; containing the spread and effects of the crisis; improving future global resilience, with improved regulation and surveillance; and reforming the international financial and economic system and architecture.

We can therefore say – with conviction – that the Conference outcome serves the interest of all nations, in order to achieve a more inclusive, equitable, balanced, development-oriented and sustainable economic development, especially to help overcome poverty and inequality. From this perspective, the Conference sends a powerful message from all stakeholders – including all countries, rich and poor – to the forthcoming G8 Summit in L’Aquila, Italy and G20 Summit in Pittsburgh.

“The way forward” section of the outcome provides for an ambitious programme of action for the United Nations development system, as well as new mandates for the main intergovernmental bodies of the United Nations, namely, the General Assembly and the Economic and Social Council. On behalf of the UN Secretariat, in particular my Department of Economic and Social Affairs, I wish to pledge our full support to these endeavours and to the crucial follow-up work to be done.

Thank you.