His Excellency Abdulaziz Bin Nasser Al-Shami
at the International Conference on Financing for Development
In the Name of God, the Most Merciful, the Most Compassionate
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.
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, -
Thank you, Mr. President.
Statements at the Conference