22 Oct 2012
Thank you, Mr Chairman,
I align myself with the statements by Algeria, on behalf of the G77 and China, and Indonesia, on behalf of ASEAN, on this agenda item.
Ten years ago, Heads of State and Government adopted the Monterrey Consensus at the International Conference on Financing for Development in Monterrey, Mexico, where the global challenges of financing for development especially in developing countries were addressed. The goal of the Consensus is to eradicate poverty, achieve sustained economic growth and promote sustainable development as the world advances to a fully inclusive and equitable global economic system. This was further strengthened in the 2008 Doha Declaration.
The Monterrey Consensus and 2008 Doha Declaration can only be as effective as the level of political support they enjoy. They will be instrumental in achieving the Millennium Development Goals as long as member states take concrete actions to implement them along with the fulfillment of existing commitment of official development assistance.
Domestic Commitment
The Monterrey Consensus asserts that a country’s economic and social development is the primary responsibility of its citizens and government, key among them the role of national policies and development strategies. In the years following the Monterrey Conference, developing countries have made significant progress in the implementation of development policies in key areas of their economic frameworks, contributing to increased mobilization of domestic resources and higher levels of economic growth in some cases.
The Doha Declaration of December 2008 affirmed that national ownership and leadership of development strategies and good governance are important for effective mobilization of domestic financial resources and fostering sustained economic growth and sustainable development.
Regional and International partnerships
Nevertheless, while each Member State should take primary responsibility and ownership of its own development and the role of national policies and development strategies cannot be overemphasized, we have to acknowledge that domestic economies are interwoven with the global economic system. In this regard, there is a need to increase North-South cooperation in face of the slow global economic recovery, to ensure adequate funding for development assistance for developing countries in achieving these domestic objectives.
Singapore also believes in the importance of promoting greater South-South and Triangular cooperation to complement North-South Cooperation. We believe that it is important for developing countries to share and exchange experiences and best practices to move together towards the Millennium Development Goals. Within our means, Singapore is doing its part to share our development experience with other developing countries through the Singapore Cooperation Programme (SCP). Since 1992, Singapore has organized training courses for more than 75,000 public officers from 170 countries, spanning Asia, Africa, Eastern Europe, Middle East, Latin America, Caribbean and Pacific Islands. We share our experiences in areas where we have some expertise, such as economic and trade development, environment and urban planning, water management, public housing and transportation, port management, civil aviation, public governance, e-government, education and healthcare.
In this context, Singapore views that cross-regional cooperation offers many benefits– the exchange of views and best practices, the mobilization of resources and technical expertise, as well as the creation of new economic integration and liberalization. Singapore encourages and welcomes development frameworks initiated at the regional level, such as the New Partnership for Africa’s Development and similar efforts in other regions.
Similarly within ASEAN, in 2000, the Initiative for ASEAN Integration (IAI) was conceived to narrow the development divide among ASEAN member states and between ASEAN and the rest of the world. Operationally the IAI, through dialogue, knowledge-sharing, capacity-building and increased connectivity, will assist member states to meet ASEAN-wide targets and commitments towards realizing the ASEAN Economic Community by 2015 which will boost trade, investment and development in the region.
Conclusion
Mr. Chairman
I would like to conclude by assuring you that Singapore stands committed to play our part to realise the aspirations we share in The Monterrey Consensus and 2008 Doha Declaration. We are committed to engage constructively on the issues pertaining to financing for development at this meeting.
Thank you.