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UAE calls for sustainable solutions to economic crisis in developing states

posted on 09/10/2004: 683 views

New York - The United Arab Emirates (UAE) has called on the global community to find out sustainable solutions for the economic crisis in developing countries. "Solutions may include the acceleration of actual implementation of outcomes and recommendations of international summit conferences, including those of Monterrey Consensus, Doha Plan for Trade and Development, Declaration of the 11th UNCTAD Conference in Sao Paulo, and Johannesburg Summit, which constitute international partnership and solid foundation for achieving the MDGs," Salim Mohammed S. Al Shamsi, Member of the UAE delegation to the UN, told the international organisation's Second committee on World Economy yesterday.

He said UAE had made contributions to most of the UN development agencies and opened its markets to foreign employment, which he added, "constitutes 82% of the working force" in the UAE, mostly from the developing countries. "Total remittances made by migrant workers to those countries, through Hawala system, have amounted to 11 billion dollars," Shamsi disclosed.

He said his country puts emphasis on the need for reforming financial and commercial international systems, taking into account the economic conditions and needs of developing countries. The UAE official delegate called for an agreement on implementation of debt relief and write- off strategies "to enable developing countries to spare resources for achieving sustainable economic growth, and to have easy access to modern technology." Armed conflicts and foreign occupation, he added, must be ended.

He urged developing countries to carry out their obligations in terms of reforming and strengthening their economic and social institutions, "so as to create an environment that is favourable to development and foreign investments." Shamsi said the UAE had extended various kinds of assistance, both cash and in kind, to many developing and disaster-stricken countries, citing Kosovo, Afghanistan, Palestine and Iraq as an example. (The Emirates News Agency, WAM)


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