Statement by Foreign Secretary Mr. Bharat Raj Paudyal at the Annual Ministerial Meeting of the Least Developed Countries held on the Margin of the 77th Session of the UN General Assembly
New York, 23 September 2022
Mr. Chairman,
Honorable Ministers,
Madam Under-Secretary-General and High Representative, and
Distinguished Delegates,
I would like to thank you, Mr. Chairman, for convening this meeting.
The leadership and direction that you and the Government of Malawi have provided to our Group have been critical to keep the Group moving during these difficult times.
I would also like to congratulate Madam Rabab Fatima on the assumption of her responsibilities as Under-Secretary-General and High Representative for LDCs, LLDCs and SIDS.
Madam USG and her able team at OHRLLS deserve our deep appreciation for their continued efforts to promote the interests of the most vulnerable countries.
Mr. Chairman,
The world today faces cascading crises marked by geopolitical divides, inequality, and climate emergency.
The COVID-19 pandemic has further exposed the devastating impacts of inequality both within and among countries.
The crises have hit the vulnerable countries and peoples the most. It has pushed an additional 95 million people into extreme poverty, with most of them living in the LDCs.
The suffering of the poorest of poor in our countries continues unabated.
Though, we have implemented four decadal Programs of Action since 1981, we are still trapped in a vicious cycle of underdevelopment.
The challenges of building productive capacities, boosting investment and trade, reducing poverty, and strengthening institutions continue to remain as daunting as they were in the 1980s.
There is only one way this can change. It is when the international community comes together- with more resolve and solidarity, more commitments and actions- to address the problems facing the LDCs.
This is exactly the vision of the ‘Doha Program of Action’.
With a new generation of commitments by the LDCs and the development partners, the DPoA aims at achieving a rapid, inclusive, and sustainable economic development in the LDCs.
We must implement this global development compact in conjunction with the 2030 Agenda for Sustainable Development and the Paris Accord.
We must prioritize structural transformation of our economies by building productive capacity based on green recovery through investment in areas of competitive advantage.
While we, the LDCs, must pledge ourselves to do more, a greater international support is critical than ever before.
In this context, we urge the international community to fully deliver on their ODA commitments. FDI, aid for trade, and climate financing must complement the LDCs’ national development efforts.
There is a need for renewed and strengthened global partnership to develop resilient and sustainable infrastructure in transportation and communications, in energy and information and communications technology (ICT), and in public health and food systems, among others.
The DPoA recognizes the power of science, technology, and innovation to fight against multidimensional vulnerabilities.
In line with this, transfer of scientific knowledge and technology to the LDCs must be a top priority. The LDC Technology Bank should be made an effective conduit for technology transfer to the LDCs.
Global financial architecture needs to be made just, inclusive, and equitable.
All possible international financial instruments must be used to make resources and fiscal space available to the LDCs.
Mr. Chairman,
Nepal is currently undertaking preparations for LDC graduation by 2026. Ours is a unique case as we have been recommended for graduation without meeting the income criterion.
Graduation is our long-held aspiration. Therefore, we are making all-out national efforts to ensure that it is smooth, sustainable, and irreversible.
We call for a strong support from our development partners to complement our national efforts.
To conclude, as we prepare for the second part of LDC 5 to be held in Doha in March 2023, let us recommit to reverse the trajectories that have led us off course.
Let us pledge to effectively implement the DPoA. Let us ensure that the DPoA becomes a ‘booster shot’ to build resilience and promote sustainable economic growth in the LDCs.
Thank you for your attention.