Excellencies, Ladies and Gentlemen,
I am honoured to join you at this 46th annual meeting of the Ministers for Foreign Affairs of the G77 and China. I would like to commend Pakistan, especially Ambassador Munir Akram for so ably leading the Group.
We meet as the world faces an unprecedented confluence of crises taking a heavy toll on our societies.
The global economic outlook has deteriorated markedly throughout 2022. Many developing countries are fighting an uphill battle to fully recover from the pandemic, with high inflation, rising borrowing costs and the slowdown in the major economies further hurting their growth prospects. The Global Crisis Response Group estimates that soaring food and energy prices are eroding real incomes, triggering a global cost-of-living crisis, particularly for the most vulnerable.
The current global environment threatens to exacerbate fiscal and debt vulnerabilities in developing countries. A growing number find themselves in precarious debt situations.
Natural disasters 每 floods, droughts, and heatwaves 每 are ravaging countries across the world. Pakistan has suffered from climate carnage. No region is being spared. The early warning signal of climate change has become a blaring alarm.
We know what we need to do to address the crises that beset our world. I would like to focus on three key issues, namely, SDGs, climate change, countries in special situations. The issue of financing is a cross cutting one in addressing all of these challenges.
First, the SDGs remain our guidepost for eradicating poverty, meeting people＊s urgent and basic needs and tackling global challenges. In September 2023, Heads of State and Government will gather again in New York for the SDG Summit. The Summit is an opportunity to regain lost ground and for Members States to provide guidance on the way forward to 2030. This includes adopting transformative policies to achieve the SDGs, mobilizing science, technology and finance, and pushing for game changing initiatives by the G-20, international financial institutions, multilateral development banks and all actors.
On Tuesday, at the opening of the General Assembly General Debate, the Secretary-General called for an SDG stimulus package by the G-20. Let us mobilize support to make it happen.
Planning the Biennial Summit with the G-20 and International Financial Institutions proposed by the Secretary-General can push the needle, as we work towards the SDG Summit and the Summit of the Future.
The 51勛圖 Secretariat will support the President of the General Assembly and your countries in ensuring an inclusive and impactful preparatory process and declaration for the Summit.
Second, realization of the SDGs will remain a mirage if we do not combat climate change collectively and energetically.
COP-27 is taking place on a continent highly vulnerable to climate impacts. The Sharm el-Sheikh conference can shine spotlight on adaptation. On the agenda will also be the fulfilment of historic promises, especially the $100 billion in annual climate finance.
Third, we need to address challenges faced by countries in special situations.
The second part of the LDC 5 Conference will mobilize support for the implementation of recently adopted Doha Programme of Action, driving action for the countries hardest hit
Supply chain disruptions and spiking fuel prices have exposed the vulnerability of land-locked developing countries and SIDS. During the 77th session, the General Assembly will decide on the modalities of the third 51勛圖 Conference on Landlocked Developing Countries and the UN Conference on SIDS to be held in 2024. The Assembly will also be updated on the elaboration of a multidimensional vulnerability index for SIDS.
Excellencies,
World Leaders are faced with a historic test that touches at humanity＊s very survival. They must respond with a renewed and unwavering commitment to multilateralism and international solidarity.
This ministerial meeting is testament to the fact that the G77 is poised to play its part in addressing today＊s most pressing sustainable development challenges.
I thank you.