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Last updated: 3rd April 2019

Intervention by Hon’ble Foreign Minister Dr. A K Abdul Momen, MPat the 3rd Interactive panel discussion at the BAPA+40 Conference on “Scaling up the means of implementation of the 2030 Agenda for Sustainable Development in support of South‐South cooperation and triangular cooperation”

Thank you, Chair.

 

Good Afternoon

 

The BAPA+40 Conference is taking place at a time when the international community is working very hard to implement the aspirational yet achievable transformative 2030 Agenda. We are hearing that trillions of dollars would be required to achieve the SDGs.

 

South-South cooperation (SSC) is making a vital contribution to the implementation of the 2030 Agenda, as a complement, not a substitute, to North-South cooperation and its importance as aneffectiveformofdevelopmentcooperation has been growing. Itisencouragingtohearthat, in 2017,74 per cent of developing countries provided some form of development cooperation, up from 63 per cent in 2015.

Toharnessthepotentialofthe South-South Cooperation and restrategizeit, weneedto step up themeansofimplementationas outlined in the 2030 Agenda and I wouldliketoflag a fewpoints:

 

  1. First, ODA for the developing countries keeps declining for development programmes. While our development partners must fulfil their ODA commitments, the multilateral, regional and bilateral financial and development institutions need to increase financial resources and technical cooperation to promote SSC.

 

  1. Second, while some Southern financial institutions and initiatives such as the New Development Bank, the Asian Infrastructure Investment Bank, IBSA Fund are extending financial support to the South, new reginal and global banks and funds need to be set up to promote the SSC.

 

  1. Third, the global South is lagging behind in the development, use and management of technology. The developed countries must make steps for accelerated technology transfer at affordable price to the South and must close technology gaps between the North and the South.The developing countries also require the collaboration of the developed countries to offset the negative impacts of the 4IR.

 

  1. Fourth, 'free trade and free mobility is the vehicle of growth and prosperity'. The present civilization prospered through the free mobility of people and trade. A stronger South will generate demand for exports from other countries and boost investment opportunities with higher returns or ROI. Therefore, the preferential trading and other measures of the WTO must be implemented.

 

  1. Fifth, there must be a more central role for the South in the international economic decision-making. It is important to recognize that to bolster SSC, a fundamental change in the global financial and economic governance structure is needed to be initiated.

 

  1. Sixth, triangular support should promote Northern support for South-South Cooperation endeavors. It should aim at capacity building of the South for its economic and social advancement and environmental sustainability.

 

  1. Seventh, the reformed United Nations Development System should undertake more activities to the support South-South and triangular cooperation taking into accountnationalownership, leadership, and country-specificneeds.

 

  1. Eighth,thereislotofpotentialformobilizingresourcesbothfinancing and technology transfer withintheseSoutherncountries. Unfortunately, thoseneitherbeenexplored, norarticulatedyet and therefore, itisimperativetoform a ForumofFinance, Development and ForeignMinistersoftheSoutherncountriesto dialogue, discuss and explore mobilizingmeansofimplementation, more so in thecontextofachievingtheSDGs.  OurFinanceMinistersentoutletterstoallhiscountrerparts in 2016 and therewas positive response. Nowmay I appeal themembershipto set up itquickly?

Thankyou


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