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STATEMENT BY Mr. Chairman, Let me first of all express my delegation’s sincere appreciation to the distinguished Secretary-General of the United Nations for his attendance here today and for his insightful introductory remarks to the Twenty-fifth Annual Meeting of Foreign Ministers of the Group of 77. Let me also extend our sincere appreciation to you, Mr. Chairman, and the Government of the Islamic Republic of Iran for your dedicated and inspiring leadership of our Group through the current and eventful year. Your efforts have ensured the Group’s solidarity in meeting the new and old challenges in these extraordinary and unpredictable times. Before briefly addressing some of the issues of critical importance to my delegation, let me say that my Government is deeply committed to following through on the goals and outcomes of the South Summit in Havana and those of the Millennium Declaration last year. As we look ahead over the next year, all of us will have ample opportunity to ensure that the issues embodied in these outcomes and of deep concern to the developing countries will be thoroughly followed through at the intergovernmental level. I trust that we will seize the opportunities presented to us by the forthcoming International Conference on Financing for Development in Monterrey, Mexico in March 2002 and the World Summit on Sustainable Development in Johannesburg, South Africa in September 2002. In this context, let me first look at the pivotal issue of financing for development, which has been identified by our Group as the most critical and core issue in our quest to evolve dynamic international cooperation for development and the eradication of poverty. Though opposition was rife, the Group of 77 and the NAM were successful in garnering sufficient support to convene the International Conference on Financing for Development. Thus, since the process was approved and committed to by the international community in the General Assembly and the Millennium Summit, we should move beyond questioning the process and move towards forging ways and means on how best to reach an overall consensus, thereby ensuring that the Conference will be a success. The crux of the matter is that the international financial system has largely failed the developing community in providing adequate financing for development. This obviously must be redressed. The conference, therefore, provides us with a unique opportunity to effectively address these issues in a holistic manner with the active involvement of all relevant stakeholders, intergovernmental, public and private. Another major problem constraining adequate financing for development is that of the debt burden overhang. Given the magnitude of the problem, debt relief and reduction, including those in middle-income countries, are of critical importance it development is to be sustained. We must therefore search for new durable debt solutions to cover all developing countries. In this context, while welcoming the Highly Indebted Poor Countries (HIPC) initiatives, we should also consider positively initiatives such as "debt for nature swap", which, I believe, will contribute to our efforts in achieving sustainable development. Overall, in the area of systemic issues, the global international financial system, as it now stands, is not conducive to fostering sustainable development for all. Our challenge is clear. We must call on the international community to broaden participation in existing multilateral financial institutions. We must therefore ensure full participation by the developing countries at the highest political level. The second forthcoming international conference of great interest to the developing countries is that of the World Summit on Sustainable Development (WSSD) to be held in Johannesburg, South Africa in September 2002. Its central purpose is to seek ways and means to accelerate the implementation of the outcomes of the Rio conference in 1992, particularly Agenda 21. The blueprint of Agenda 21, which established an unprecedented global partnership for economic and social development and environmental protection at the highest level, must be met in a balanced manner if sustainable outcomes are to become a reality. However, ten years down the road this process has obviously faltered. What has happened was that the multilateral cooperation and the unprecedented partnership so diligently forged at Rio have become overshadowed and eclipsed by the growing emphasis being placed on globalization, economic liberalization and strident market forces. To meet these challenges, therefore, and as decided in GA Resolution 55/199, the overarching goal of the World Summit on Sustainable Development, is to reinvigorate at the highest level the global commitments to sustainable development through partnerships. In this context, we see the ongoing comprehensive preparations are crucial for the success of the World Summit. I would just like to add that Indonesia, as Chairman of the WSSD Preparatory Committee, is deeply committed to doing its utmost to ensure that the preparations in the lead up to the Summit will be successful. Broad-based participation from every region of the world and all relevant stakeholders are already a hallmark of the process. I sincerely hope that this will continue and that the process will serve as a decisive turning point for renewing our political commitment to implementing the outcomes adopted at Rio. In this way we believe that the economic needs of the present will be ensured without compromising the ability of the planet to provide for the needs of future generations. As the host of the final PrepCom at Ministerial level, we would certainly try our best effort to ensure the success of the Conference, and the Government and the people of Indonesia would warmly welcome you in Indonesia soon. Thank you.
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