Mr. President
On behalf of the European Union would like to thank panelists for their insightful and substantial introduction to this panel of major contemporary importance.
The EU shares the description of the present state of the world economy as stated in the outcome document of the Conference on the World Economic Crisis and Its Impact on Development.
All countries are being severely affected by the global economic and financial crisis. The economic and social progress achieved in many of the developing countries during recent decades, in particular the Millennium Development Goals (MDGs), is being threatened. Millions of people risk falling back into poverty and hunger, inequalities are also rising. As part of the global initiatives to fight the crisis, the EU is firmly committed to take comprehensive, timely, targeted and coordinated action to support developing countries, especially the poorest and most vulnerable.
The outcome document of the Conference on the World Economic Crisis and Its Impact on Development provides the basis for the UN to respond to this crisis with actions and to contribute to on-going international discussions on ways out of the crisis and on the ongoing reform of the international financial architecture, while respecting the mandates of the relevant institutions. The outcome document also contains substantive elements of on how to follow-up. We welcome the steps taken by the UN funds and programmes, specialized agencies and the international financial institutions to mitigate the impact of the crisis on the most vulnerable populations. The EU also calls on the UN development system to further develop a comprehensive crisis response in support of national development strategies through a coordinated approach by UN funds and programmes, specialized agencies and the international financial institutions at country level.
The Outcome document that has been referred to covers a wide range of issues that are also dealt with in numerous other fora, such as the Bretton Woods Institutions, the World Trade Organisation and the Paris Club. The EU will continue to address these issues in the UN and other relevant fora, respecting each institution’s respective mandate.
Governments have the primary responsibility for determining how to respond to the crisis. But adequate international resources, including ODA, must be provided. It is essential that all donors promptly deliver on their international ODA commitments and translate promises into action.
Increased ODA levels alone will, however, not be sufficient. Equally important is that we make our development cooperation more effective. The most vulnerable groups must be protected. This cannot be stressed enough. The private sector and infrastructure investments must also be sustained. We need to continue efforts on an ambitious, action- and results-oriented response to the Paris Declaration and the Accra Agenda for Action.
Emphasizing the responsibility and ownership of partner countries for their own development, the EU will step up support for their efforts to mobilize domestic resources for development, including through improving public financial management and the soundness and effectiveness of their tax and customs systems. We will also support developing countries in creating an enabling business environment, in order to attract foreign investment.
In a period of weak labour demand, it is important to remain focused on the goals of full, productive and decent work, to reduce the risk of high unemployment and increasing working poverty. The likely severity and duration of the global jobs crisis made it essential to improve social protection for those made vulnerable by distressed labour markets.
Therefore, our response to the crisis must focus on creating jobs, increasing prosperity, strengthening access to health and education, designing and implementing environmentally and socially sustainable development paths and having a strong gender perspective.
We must also refrain from protectionist measures and work towards an inclusive globalization and an open world economy. The EU has as an important role to play in this regard, as a major international market and a key trading partner for many developing countries. The EU is – and should remain - at the forefront, promoting free trade and increased market access for developing countries. A rapid and ambitious conclusion of the Doha Round is instrumental.
Thank you.