Developed states' pledges often not kept: Iftekhar
Saturday, 29 September 2007
NEW YORK, Sept 28 (UNB): Foreign Adviser Iftekhar Ahmed Chow-dhury said that in today's world development must be country-driven and urged the developed nations to keep their pledges for the developing nations.
Speaking at the Ministerial Meeting of Group of 77 held in UN Headquarters Thursday, he said while some economies were experiencing robust growth, many developing countries were in economic decline.
"Pledges made by developed countries are often not kept. Promises made in conferences must be honoured", the Advisor said.
He asked for 100 per cent market access of LDCs' products into markets of developed countries. He also requested preferential treatment for LDCs from the developing countries that are in a better position.
The Foreign Advisor said 70 per cent of the total global foreign currency reserve are held by developing countries. "While these remain mostly idle, developing countries are bargaining at a high interest rate to finance their own development projects. Some method must be evolved for them to use their reserves as collateral to borrow at minimal interest rates"' he said.
Chowdhury underscored the need for effective UN reforms to improve its delivery capacity.
He said Bangladesh would like to see the UNDP plays a more central and leadership role in discharging the UN's development mandate. There was need for greater coordination of UN activities both at the country-level and at the headquarters, he said.
The Advisor noted the importance of climate change but said all must be careful so that it cannot become yet another factor in enhancing the divide between the developed and the developing worlds.
He praised Pakistan's leadership of G-77 this year and congratulated the incoming Chair of G-77 for 2008, the Prime Minister of Antigua.
Speaking at the Ministerial Meeting of Group of 77 held in UN Headquarters Thursday, he said while some economies were experiencing robust growth, many developing countries were in economic decline.
"Pledges made by developed countries are often not kept. Promises made in conferences must be honoured", the Advisor said.
He asked for 100 per cent market access of LDCs' products into markets of developed countries. He also requested preferential treatment for LDCs from the developing countries that are in a better position.
The Foreign Advisor said 70 per cent of the total global foreign currency reserve are held by developing countries. "While these remain mostly idle, developing countries are bargaining at a high interest rate to finance their own development projects. Some method must be evolved for them to use their reserves as collateral to borrow at minimal interest rates"' he said.
Chowdhury underscored the need for effective UN reforms to improve its delivery capacity.
He said Bangladesh would like to see the UNDP plays a more central and leadership role in discharging the UN's development mandate. There was need for greater coordination of UN activities both at the country-level and at the headquarters, he said.
The Advisor noted the importance of climate change but said all must be careful so that it cannot become yet another factor in enhancing the divide between the developed and the developing worlds.
He praised Pakistan's leadership of G-77 this year and congratulated the incoming Chair of G-77 for 2008, the Prime Minister of Antigua.