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209221
Sun, 09/25/2011 - 02:12
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http://m.oananews.org//node/209221
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Qatar Warns of Repercussions of Global Financial Crisis
New York, September 24 (QNA) -The world is still suffering from the repercussions of the financial crisis which has become a crisis affecting the world economy and has led to a downgrading in the production levels and employment rates. This crisis has indeed reversed the positive performance developing countries have achieved during the first half of the decade. That performance led to an improvement in the mobilization of local resources and to stability in the local financial system as well as to an improvement in the foreign trade balance that resulted in higher growth and employment in those countries, said HE Assistant Foreign Minister for Follow-up Affairs Mohammad bin Abdullah Al Rumaihi.
Addressing the Annual Ministerial Meeting for the Group of 77 and China held on the margin of the 66th session of the United Nations General Assembly, HE Al Rumaihi underscored that the instability in the world financial market threatens the economies of both developed and developing countries. In the same way, he said the slow economic growth and continued uncertainties threaten the efforts made to achieve human security and to reduce poverty and hunger by half by 2015.
He said: We have to mention in this respect that the review which the United Nations General Assembly undertook at summit level in September 2010 to assess the performance in the implementation of the Millennium Development Goals was not satisfactory.
That review revealed that the progress previously achieved has started to recede and that after the elapse of two thirds of the period designated to achieve the objective of reducing poverty and hunger by half by 2015 that target has become beyond reach to many countries, especially to those in the sub-Sahara African countries.
We all know that a high-level dialogue on financing for development and on the Monetary Consensus is scheduled to take place from 7 to 8 December 2011, HE Al Rumahi added, saying taking consideration the great importance developing countries attach to the financing of development, our group should give maximum attention this dialogue, especially in light of the slow American and International economy growth, the American debt crisis and the looming severe financial crises, all of which would have negative effects on the economy of the developing countries and their development efforts, as well as on the implementations of the internationally-agreed development goals, including the Millennium development goals.
He further said: We have therefore; to seize the opportunity of this high-level dialogue and participate in it effectively at a high level in order to protect the interests of the developing countries, particularly the least developed countries, the land-locked countries and the land locked small island developing states.
We have before us a historic opportunity to design the path of a sound governance for the new commercial, economic and financial system. Since the United Nations has been, following of the holding of the Financial and Monetary Conference in Bretton Woods, the appropriate democratic forum for the establishment of the present international financial structure, the reform of the system should also be achieved under auspices of the United Nations, he noted.
HE Al Rumaihi said that the State of Qatar, in partnership with Switzerland and the Republic of Singapore, announce the Global Governance Group initiative at the Davos World Economic Forum. It aims at comprehensively redesigning the world financial system in order to submit international proposals to reform the world system, to be achieved in an official conference held and sponsored by the United Nations, as this will provide the chance for all to participate, he added. Qatar Warns of Repercussions of Global Financial Crisis 1
HE Al Rumaihi said that the State of Qatar will, within the Group of 77 and China seek to reaffirm the principles and visions contained in previous agreements on Sustainable Development for the sake of achieving sustainable development.
He said: We hope that this review will identify the remaining problems, including the problems of implementation gaps and non-coherence, in addition to pressures emanating from new threats. We also hope to benefit from the lessons learned from experiences in the field of institutional changes. The State of Qatar will seek to achieve, in an integrated manner, the three pillars of sustainable development in a balanced and reinforcing way, as well as the principles of common but differentiated responsibilities.
As for the subject of the linkages of the three pillars, regarding which the conference will review the relative advantage of the three options namely: 1 - Enhancing the committee on sustainable development, 2- Amending the mandate of the Economic and Social Council, 3- The establishment of the sustainable council, the State of Qatar will participate, with other countries of the Group, in conducting serious discussions. It is our hope that the discussions will provide a substantial opinion leading to positive result for the States of the Group, he added.
HE Al Rumaihi said: It is our opinion that the lack of efforts in dealing with the climate change is due to separating the development issue from the climate change issue. The optimum and the most effective solution to the problem of the climate change can only be achieved through an integrated discussion within the framework of the sustainable development process. This is because the climate issue is by necessity a development issue and because the development process should first deal with developing countries on the basis of a well-established vision regarding the manner to achieve development, he noted.
In this respect, HE Al Rumaihi said: We would like recall two important elements that were confirmed in the Rio Conference of 1992 on climate change; the first is that Polluters Pay principle, which means that who's responsible for polluting the climate should bear the costs of improving it; and the second is that we should not sacrifice the development process or downgrading it because of the climate change.
HE al Rumaihi said: We have noticed that the negotiations of the Kyoto Protocol of 1997 completely ignored the development issue, and this has led to a failure in adopting a comprehensive manner in dealing with the subject, and this was because the climate was completely separated from development.
I would like here to touch up the discussion held by the Security Council, "Maintenance of International Peace and Security: Effects of Climate Change", that took place at the request of the German Mission at the United Nations. In this regard, HE al Rumaihi expressed full support for the position of the chairman of the Group 77 and China on behalf of the whole Group.
He added: We are aware that climate change does not constitute a threat to security under article 39 of the charter, and we cannot think of measure to be taken under article 41 of the Charter. We believe that the United Nations Framework Convention on Climate Change is the appropriate forum to consider climate-change related threats and to adopt necessary measures to handle them, in accordance with the principles stipulated in that convention.
The main responsibility of the Security Council under article 24 of the charter is the maintenance of international peace and security. It is obvious that discussion should fall in a clear frank manner within the scope of other bodies in the United Nations, especially the General Assembly, the Economic and Social Council, the Committee on Sustainable Development and relevant United Nations agreements, HE Al Rumaihi concluded.
Addressing the Annual Ministerial Meeting for the Group of 77 and China held on the margin of the 66th session of the United Nations General Assembly, HE Al Rumaihi underscored that the instability in the world financial market threatens the economies of both developed and developing countries. In the same way, he said the slow economic growth and continued uncertainties threaten the efforts made to achieve human security and to reduce poverty and hunger by half by 2015.
He said: We have to mention in this respect that the review which the United Nations General Assembly undertook at summit level in September 2010 to assess the performance in the implementation of the Millennium Development Goals was not satisfactory.
That review revealed that the progress previously achieved has started to recede and that after the elapse of two thirds of the period designated to achieve the objective of reducing poverty and hunger by half by 2015 that target has become beyond reach to many countries, especially to those in the sub-Sahara African countries.
We all know that a high-level dialogue on financing for development and on the Monetary Consensus is scheduled to take place from 7 to 8 December 2011, HE Al Rumahi added, saying taking consideration the great importance developing countries attach to the financing of development, our group should give maximum attention this dialogue, especially in light of the slow American and International economy growth, the American debt crisis and the looming severe financial crises, all of which would have negative effects on the economy of the developing countries and their development efforts, as well as on the implementations of the internationally-agreed development goals, including the Millennium development goals.
He further said: We have therefore; to seize the opportunity of this high-level dialogue and participate in it effectively at a high level in order to protect the interests of the developing countries, particularly the least developed countries, the land-locked countries and the land locked small island developing states.
We have before us a historic opportunity to design the path of a sound governance for the new commercial, economic and financial system. Since the United Nations has been, following of the holding of the Financial and Monetary Conference in Bretton Woods, the appropriate democratic forum for the establishment of the present international financial structure, the reform of the system should also be achieved under auspices of the United Nations, he noted.
HE Al Rumaihi said that the State of Qatar, in partnership with Switzerland and the Republic of Singapore, announce the Global Governance Group initiative at the Davos World Economic Forum. It aims at comprehensively redesigning the world financial system in order to submit international proposals to reform the world system, to be achieved in an official conference held and sponsored by the United Nations, as this will provide the chance for all to participate, he added. Qatar Warns of Repercussions of Global Financial Crisis 1
HE Al Rumaihi said that the State of Qatar will, within the Group of 77 and China seek to reaffirm the principles and visions contained in previous agreements on Sustainable Development for the sake of achieving sustainable development.
He said: We hope that this review will identify the remaining problems, including the problems of implementation gaps and non-coherence, in addition to pressures emanating from new threats. We also hope to benefit from the lessons learned from experiences in the field of institutional changes. The State of Qatar will seek to achieve, in an integrated manner, the three pillars of sustainable development in a balanced and reinforcing way, as well as the principles of common but differentiated responsibilities.
As for the subject of the linkages of the three pillars, regarding which the conference will review the relative advantage of the three options namely: 1 - Enhancing the committee on sustainable development, 2- Amending the mandate of the Economic and Social Council, 3- The establishment of the sustainable council, the State of Qatar will participate, with other countries of the Group, in conducting serious discussions. It is our hope that the discussions will provide a substantial opinion leading to positive result for the States of the Group, he added.
HE Al Rumaihi said: It is our opinion that the lack of efforts in dealing with the climate change is due to separating the development issue from the climate change issue. The optimum and the most effective solution to the problem of the climate change can only be achieved through an integrated discussion within the framework of the sustainable development process. This is because the climate issue is by necessity a development issue and because the development process should first deal with developing countries on the basis of a well-established vision regarding the manner to achieve development, he noted.
In this respect, HE Al Rumaihi said: We would like recall two important elements that were confirmed in the Rio Conference of 1992 on climate change; the first is that Polluters Pay principle, which means that who's responsible for polluting the climate should bear the costs of improving it; and the second is that we should not sacrifice the development process or downgrading it because of the climate change.
HE al Rumaihi said: We have noticed that the negotiations of the Kyoto Protocol of 1997 completely ignored the development issue, and this has led to a failure in adopting a comprehensive manner in dealing with the subject, and this was because the climate was completely separated from development.
I would like here to touch up the discussion held by the Security Council, "Maintenance of International Peace and Security: Effects of Climate Change", that took place at the request of the German Mission at the United Nations. In this regard, HE al Rumaihi expressed full support for the position of the chairman of the Group 77 and China on behalf of the whole Group.
He added: We are aware that climate change does not constitute a threat to security under article 39 of the charter, and we cannot think of measure to be taken under article 41 of the Charter. We believe that the United Nations Framework Convention on Climate Change is the appropriate forum to consider climate-change related threats and to adopt necessary measures to handle them, in accordance with the principles stipulated in that convention.
The main responsibility of the Security Council under article 24 of the charter is the maintenance of international peace and security. It is obvious that discussion should fall in a clear frank manner within the scope of other bodies in the United Nations, especially the General Assembly, the Economic and Social Council, the Committee on Sustainable Development and relevant United Nations agreements, HE Al Rumaihi concluded.
