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Second Committee

(New York, October 16, 2008)

Statement by Ambassador Claudia Blum, Permanent Representative of Colombia to the United Nations, Item 48. Follow-up to and implementation of the outcome of the 2002 International Conference on Financing for Development and the preparation of the 2008 Review.

 

Madam Chairperson,

My delegation associates itself with the statement delivered by Antigua and Barbuda on behalf of the Group of 77 and China.

The Follow-up International Conference on Financing for Development, constitutes, indubitably, the most outstanding activity in the international agenda for development during 2008.

The importance of the meeting in Doha is evident as an step towards a new phase of the intergovernmental process initiated in Monterrey. In the face of the adverse global economic panorama, darken by the overwhelming financial crisis and the trends in oil and food prices, the Conference will be held in a decisive moment to project multilateral actions that assure the sustainability and progress on financing for development.

The current context imposes the need to pursue an ambitious outcome. Hence, formal considerations on the extension of the document do not seem to have relevance. The important matter is to achieve a outcome that widens the scope of the Monterrey Consensus. An outcome that goes beyond the reaffirmation of the commitments subscribed in 2002 and responds, with concrete measures, to the enormous challenges that the global economic dynamic entails for the needs of developing countries.

From this perspective, Colombia values the conscientious process carried out in preparation for the drafting of the document basis for negotiation. Both, the review sessions on the six thematic areas of the Consensus, as well as the interactive hearings with representatives of the civil society and the business sector, provided significant inputs of which we should make the best of, in the framework of the Conference. It is not convenient to dilute the substantive contribution made during the first half of this year, in view of considerations exclusively focused on aspects of a political nature.

Madam Chairperson,

Colombia considers that it is essential that the Doha document adequately elaborates on the issues related to the current economic panorama. Among others, the regulation of financial and capital markets of all countries; as well adequate mechanisms to provide emergency liquidity during crisis and to avoid the excessive accumulation of risks. The promotion of the implementation of norms for banking and financial oversight and regularization, as crucial aspects for the functioning of the international markets, turns out to be fundamental.

The reaffirmation of the international commitment on the promotion of additional measures to fight illicit capital flows, in particular, money laundering and capital flows to finance terrorism, is a priority for Colombia. Terrorism entails devastating consequences for development. So is reflected in the human losses, the risk to the sustainable realization of productive activities and the destruction of infrastructure, which is indispensable for economic and social progress as well as for the wellbeing of the population.

With regards to international cooperation, my delegation would like to underscore the relevance of achieving agreements that incorporate the progress derived from the Paris Declaration and the Accra Agenda, in pursue of an ever more, stable predictable and results-oriented cooperation.

In this same field, during the various debates held in the Committee up to now, my delegation has highlighted the need for the international community to pay greater attention to the particular needs and the role of middle-income countries in the new architecture of cooperation. Without a doubt, middle-income countries have become multipliers of development. Half of the world's poor live in these countries. The importance that ODA still has in order to support the enormous efforts of these countries must be ratified in Doha.

South-South cooperation is another area of great relevance. Supported by triangular schemes, cooperation among developing countries constitutes a rising and positive flow in the provision of technical and financial assistance at the international level. Thus, we consider that this issue should be treated in a crosscutting manner within the Conference's outcome document.

Madame Chairperson,

I would like to conclude by affirming the imperative importance that Colombia attaches to the establishment of an strengthened follow-up mechanism to this process. The continuity and effectiveness of international actions on financing for development, highly depends on the political will to act jointly as well as on our disposition to carry out a periodic, self-critical and substantive examination on the implementation of shared responsibilities. We need institutional arrangements with higher capability, both, at the technical and political level. Only in that way we will be able to improve the impact of our work in this field, which is essential to reinforce the firm commitment to the effective accomplishment of the United Nations mandates on the promotion of development.

Thank you.

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