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UAE has tapped its oil resources for infrastructural development: Al Tunaiji

posted on 08/10/2006: 668 views

New York - The United Arab Emirates has said that it had judiciously tapped its oil resources for the objectives of building excellent infrastructures in all its economic, social and environmental sectors. In his address at the 6th meeting of Second Committee (Economic and Finance) during the 61st UN General Assembly, Arif Abdullah Al Tunaiji, Member of the UAE delegation to the UN said although some regions of the world have achieved economic growth, the positive results of this growth were limited to some few groups of people and never reached the poor majority in developing countries which represent more than half of the world's population.

He said millions of people in various parts of the world continue to suffer from abject poverty, disease and unemployment, in addition to armed conflict, terrorism and foreign occupation, all of which hinder sustainable development that we all cherish, adding that such a situation poses a real threat to global peace and security.

He reaffirmed that development was one of the most important issues in today's world, and the only way to achieve security, stability and prosperity for everyone, He renewed the call to all stakeholders in the development process to move ahead and implement all resolutions adopted at various development summits.

He pointed out that the United Arab Emirates had advanced its social and economic development with a national strategy focusing on the efficient use of oil resources and providing infrastructure to develop other sectors, while expanding its production base and avoiding dependence on oil as its only source of income. That had led to a non-oil sector contribution of 67 per cent of the country's gross domestic product (GDP).

He further explained that one of the main components of the country's development strategy was achieving security and economic stability while focusing on human resources and providing education, health care and employment opportunities for all citizens. He said other strategies include supporting the private sector's role in development, applying new information and communication technology, incorporating environmental concerns into national development plans and playing a role in international and regional partnerships for development.

A 2005 UN human development report shows that the UAE occupies the 41st position on the human development index, having moved up five positions from its position in 2004. (Emirates News Agency, WAM)


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