Mr Chairman,
Excellencies,
Distinguished colleagues,
I warmly congratulate Uganda for hosting the Third South Summit, and for assuming the chairmanship of the G77&China. I am confident that under Uganda’s chairmanship, we will be able to make significant strides towards building a stronger Global South.
As we celebrate the 60th anniversary of the establishment of the G77&China this year, it is timely to reflect on the strong progress that developing countries have made in human capital development over the last few decades. For example, the World Bank estimates that the percentage of people living in extreme poverty has fallen dramatically from about 50% in the 1960s to about 8.8% in 2021.
However, the road ahead has become more uncertain as the world faces a confluence of serious challenges. They include the lingering impact of the pandemic, greater economic volatility due to supply chain disruptions and inflation, as well as the existential challenge of climate change. According to the World Bank, developing countries are projected to grow just 3.9% in 2024, more than one percentage point below the previous decade’s average. Developing countries are disproportionately affected by these challenges, such as how small island developing countries are especially vulnerable to the impact of climate change and extreme weather events.
These challenges have also led to a significant rollback of hard-won development gains. According to the UN Department of Economic and Social Affairs (UNDESA), last year, about 238 million people experienced food insecurity, an increase of about 21 million from the previous year. The Sustainable Development Goals (SDGs) Report released by the UN Secretary-General in 2023 also showed that 30% of SDG targets are stagnating or declining.
As the largest grouping of developing countries at the UN, the G77&China has a unique role in contributing to solutions towards the array of development challenges that we face. We are in a position to amplify the voice of the South on these issues, and work with others within a rules-based multilateral framework to find collective solutions. In particular, we must continue our unwavering efforts towards the collective achievement of the 2030 Agenda for Sustainable Development. The 2030 Agenda and the SDGs remain the most critical pathway for ensuring the continued progress of developing countries. The G77&China should build on the SDG Political Declaration adopted at the SDG Summit in September last year. We should also seize opportunities to do more, including at the 4th International Conference on SIDS and the Summit of the Future this year, which will be crucial milestones to push forward the implementation of the SDGs.
Singapore remains committed to working with fellow developing countries to achieve the G77&China’s priorities, particularly in four key areas. First, we need to do more to address the pressing challenge of climate change. The decision by Parties at COP28 to transition away from fossil fuels in energy systems – in a just, orderly, and equitable manner – is a significant and positive development. This will come as a cost – felt more acutely by developing countries. Thus, more must be done to mobilise technology and finance in developing countries so that we may enable greater ambition while supporting sustainable development. While the developed countries must lead the way in this area, there is scope for greater South-South cooperation so that no one is left behind.
Singapore will do our part to support fellow developing countries in ways that we can make a meaningful contribution. For example, at COP28, Singapore announced various new initiatives to support and accelerate green transition in our region and beyond. This includes the Financing Asia’s Transition Partnership (FAST-P) blended finance initiative, which aims to catalyse up to US$5 billion from concessional and commercial capital providers globally. Singapore also provides technical assistance and capacity-building courses through the Singapore Cooperation Programme, which has seen close to 150,000 participants from over 180 countries, territories, and intergovernmental organisations over the last three decades. Under this programme, we have also launched the Sustainability Action Package to give greater focus to the global sustainability agenda, and share best practices in climate adaptation and resilience.
Second, on trade, we welcome the G77&China’s longstanding commitment to an open and rules-based multilateral trading system. We also echo the G77&China’s concerns regarding unilateral and protectionist measures that run counter to the spirit and rules of the WTO.
Third, on technology. We thank Cuba for making Technology a priority of its G77&China Chairmanship in 2023. Technological advancements offer immense opportunities for development and towards the achievement of the SDGs. However, serious and concerted efforts are required to harness the benefits of technology, including by working with global and community partners to bridge technological and digital divides, and promote greater inclusion and connectivity.
Lastly, transformation of global governance. Governments should work together to build a more inclusive global governance system, including through the reform of key global institutions, to better reflect current realities and respond to emerging challenges. The UN High-Level Advisory Board on Effective Multilateralism had put forth several bold and ambitious proposals, including on repurposing of the multilateral development bank system. We are pleased that some of these proposals have been incorporated in the G77&China’s input to the Pact of the Future. Singapore will continue to work closely with G77&China to ensure that the Summit of the Future will deliver outcomes that benefit all, including developing countries.
In closing, let me reaffirm Singapore’s steadfast commitment to working with fellow developing countries, to ensure that no one is left behind in our journey towards a better tomorrow. Thank you.
Photo Caption: Minister in the Prime Minister's Office, Second Minister for Education and Second Minister for Foreign Affairs Dr Mohamad Maliki Bin Osman at the Third South Summit, Kampala, Uganda, 21 January 2024
Photo Credit: Ministry of Foreign Affairs Singapore
