Press Release issued by Permanent Mission of Nepal to the UN

Press Release

Hon’ble Mr. Jayant Chand, Minister for Commerce, addressed the plenary of UNCTAD XIV on 20 July 2016 at the Kenyata International Convention Centre, Nairobi.

Recalling the landmark agreements such as Sendai Framework for Disaster Risk Reduction, Addis Ababa Action Agenda, Sustainable Development Goals and the COP 21 Paris Agreement, Hon’ble Minister expressed his hope that the 14th UN Conference on Trade and Development will be able to contribute in developing global inclusive policy and strategy in line with the theme of the conference ‘from decisions to actions’.

Hon’ble Minister expressed the need of strengthening multilateralism in the socio-economic spheres, and representation of the developing countries, particularly the LDCs, in the global economic governance and multilateral trading system. He also reiterated the need of enhanced level of foreign investments in the infrastructure development, sustainable energy production and industrialization, particularly in LDCs, as these countries have several untapped development potentials and a demographic dividend at their disposal. He further emphasized on the need of Official Development Assistance (ODA) for developing countries and stated that it should reach the level of commitment from all identified sources and be properly aligned to the development needs of the receiving nations.

Showing concern over widening income gaps between rich and poor countries and its consequences in various parts of the world, he emphasized on the need of predictable and reliable system for flow of finance, investment, technology and knowhow to bridge the inequality gap, raising the productive capacity and achieving structural transformation of the poorer economies. He also stressed on the need of ensuring the gender equality to empower women and address the poverty and vulnerability of the weaker segment of the society.

Hon’ble Minister appreciated the contribution of UNCTAD and its role in integrating trade and development and inter-related issues, including the areas of finance, technology transfer, transit and trade issues, international value chains, investment regime, etc. He further added that all the three pillars of UNCTAD must be strengthened and revitalized for the additional responsibilities as per the demand of time.

Permanent Mission of Nepal to the UN,
21 July 2016