His Excellency Abdulaziz Bin Nasser Al-Shami
Permanent Representative of the United Arab Emirates to the UN and 
Head of the United Arab Emirates Delegation

at the International Conference on Financing for Development 

Monterrey, Mexico 
18th-22nd March 2002

In the Name of God, the Most Merciful, the Most Compassionate

Mr. President,
I have the pleasure to convey to the Government and People of the Republic of Mexico, on behalf of the United Arab Emirates, our sincere thanks for its gracious hosting of this historical conference. I should also like to express our deep appreciation to the members of the preparatory committee for the effective efforts they have exerted, efforts which have contributed to the success of this conference.

I should also like to take this opportunity to express our appreciation to Secretary-General Kofi Annan for his series of reports on development which contain valuable and useful information. I would also like to express our support for the statement made by Venezuela on behalf of the Group of the 77 and China.

Mr. President,
Despite the relative improvement which has occurred during the Nineties on the economic and financial conditions in many areas of the world, affected by the repercussions of globalization, open markets, the development of modern technological information and communication instruments, these positive results have not affected the peoples of the third world countries who continue to face the results of the growing decline in the growth rates, the increase in the problems related to the spread of poverty, hunger, unemployment, infectious diseases and other challenges of the burden of debt and the continued decrease of the National Income. This matter contributed to the marginalization of these countries and widening the gap between them and the countries of the North, and also providing a state of inequality and unevenness in opportunities and prosperity between the two groups of peoples.

Mr. President,

The latest international statistics have proved that the initiatives and efforts exerted to date since the adoption of the twenty first century agenda in the fields of energizing sustainable development have all proceeded in an extremely slow pace. In addition to that, their results have not been up to the necessary expected standards due to their lack of systematic planning, necessary financial resources and their clashing with bureaucratic conditions and regulations that many countries and granting international financial institutions continue to practice towards developing countries, in particular those that suffer from the accumulation of foreign debt and the decrease of financial resources for basic service programs for their peoples. We, therefore, reaffirm the need for the international community to find the necessary political will to commit to a clear comprehensive strategy to finance development in developing countries. This strategy should be in accordance with the principles of transparency, equality, the exchange of interests among countries, and the acknowledgement of the right of developing and small countries to effectively participate in international economic decision-making while taking into consideration the need to respect the characteristics that separately distinguish each country and geographical area.

In this context, we also believe in the necessity to promote the aspects of economic and technical cooperation among the South - South countries and that the governments of these countries undertake their principle roles in the field of developing local resource mobilization programs and preparing the appropriate conditions to encourage the influx of financing for their national development programs. At the same time, we demand that the developed countries and donating international institutions bear their responsibilities within the framework of three principle elements which are:

Firstly, The implementation of the commitment to earmark 0.7 percent of their Gross National Product as an official developmental assistance for developing countries, and also to earmark 0.15 - 0.20 percent to the less developed countries during this decade, i'n addition to increasing other kinds of unofficial assistance and improving the means of delivering it to the benefiting countries.

Secondly, The application of innovative mechanisms to deal with the problem of foreign loans, particularly for the less developed countries either by the reduction, cancellation, mobilization or change of these loans as resources to finance the branches of development in these countries.

Thirdly, The establishment of a multi-lateral comprehensive commercial system in accordance with the principles of non-discrimination and fairness among countries which ensures the delivery of developing country exports to international markets, the attraction of capital influx, foreign investments and modern technologies used for peaceful purposes.

We consider that the occurrence of struggles and continued practices of occupation and terrorism are the most important obstacles that hinder the implementation and financing of development. We, therefore, demand the international community to take the necessary procedures to urge the Israeli government to immediately and urgently halt all outrageous occupation and settlement practices and attacks inside the Palestinian territories including the Arabic city of Al-Quds. We also demand the Israeli government halt its barbaric, unethical and irresponsible destruction of the Palestinian national development institutions which have all been built with financing from grants and financial assistance from donating countries and international institutions, the Emirates being one of them.

Mr. President,
The United Arab Emirates has adhered, in accordance with the sublime directives of His Highness Sheikh Zayed Bin Sultan Al Nahyan the President of the UAE, to the establishment of legal and financial rules and regulations which govern national policies in regards to macroeconomics and the participation in one way or another in mobilizing and developing local financial resources. In addition to developing the productive capabilities and skills of the citizen of the Emirates, increasing work opportunities, encouraging different investments and markets, increasing the participation of the private sector and other aspects to enhance social, economic, cultural and environmental sustainable development. The United Arab Emirates has adhered, in accordance with its faith in the spirit of regional and international participation to offering various kinds of financial and technical assistance, grants and loans to many developing and poor countries to assist them in enhancing their development programs. The Emirates has also participated in offering humanitarian and relief assistance including those allotted to re-building and clearing mines in effected areas.

Mr. President, -
In conclusion, we voice our support to the recommendations which call for developing the mechanisms of coordination between the United Nations and other multilateral financial and economic institutions such as the World Bank, the International Monetary Fund, the World Trade Organization and others in order to enhance their roles in the fields of reforming and developing the international financial system and mobilizing necessary financial resources to implement the mechanisms. and programs to eliminate poverty and hunger in addition to meeting the needs of social and economic growth and protecting the environment as principle factors to achieve sustainable development.

Thank you, Mr. President.

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