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on “Resource Mobilization
and Enabling Environment for Poverty Eradication in the Context of
the Implementation of the Program of Action of LDCs New York, 29 June 2004 Madame President, Madame President, Madame President, Let me first of all address trade matters. While acknowledging trade as the engine to finance development, many LDCs are facing volatility in export revenues for their commodities, caused mainly by excessive instability in primary commodity prices. Solutions for commodity-dependent LDCs need to be tackled and, to this end, reform of the global trading system is critical to ensure commodities from developing countries, including from LDCs, have freer and predictable access to developed markets. In the same vein, export diversification becomes increasingly more important for LDCs if they are to enhance export revenues and financial resources. The capacity building program through technology transfer, including in the field of agriculture and processing industry, are also required. My delegation has been consistently supportive of the creation of a universal, ruled-based, open, non-discriminatory and equitable multilateral trading system, as well as meaningful trade liberalization. It is also imperative to place the needs and interest of developing countries at the heart of the Doha Work Programme and increase commitment to its implementation. On the issue of ODA, my delegation is of the opinion that ODA still plays an important role as a major source of external financing. This is particularly true for countries unable to attract private direct investment and FDI like LDCs. Credible and predictable medium and long-term ODA commitments to recipient countries are indispensable. After declining over the years, there has been a reversal in the quantity of ODA made available in the last three years. However, total net official flows declined and additional disbursements have been concentrated in a few LDCs. In this connection, my delegation strongly urges reform of aid delivery mechanisms, including institutional capacity building for aid management, and aid effectiveness including through greater policy coherence and coordination at all levels. Let me now move on to the issue of external debt. Debt relief and grant elements of ODA for LDCs should become major priority for development partners. If, for instance, revenue from trade has to be used to service loans LDCs will not experience progress but will stagnate economically. The two must go hand in hand, increased revenues from international trade coupled with meaningful relief from debt. In effect, what should be avoided is new debt being added to old debt. The new debts should be used for revenue-producing investments and not merely adding to the burdens of those countries that have access to such loans because that certainly is not the way out of the debt trap, which has impoverished and continues to impoverish many nations, particularly the LDCs. Madame President, Finally, my delegation underlines the need for an enabling international environment, one that can be positively impacted by South-South cooperation. Indonesia believes that through such cooperation developing countries can, in a spirit of collaboration, work together to safeguard and pursue their common development interests through sharing lessons learned and best practices utilized in the developing South. The Monterrey Consensus advocated such collaboration through triangular cooperation, because South-South cooperation cannot take place without the necessary resources. Two weeks ago, during UNCTAD XI in Sao Paolo, the Group of 77 celebrated its 40th Anniversary. It was emphasized that developing countries need to maintain their solidarity and further pursue South-South cooperation as an effective complement to the North-South dialog. My delegation would like to underline the significance of the third round of the GSTP program that was launched during UNCTAD XI, and hopes that developing countries, especially LDCs could reap benefits offered by South-South trade. Madame President, Thank you
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