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THE
Philippines has criticized the United Nations Conference
on Trade and Development (Unctad) for its failure to
assist developing countries, especially in
Asia and sub-Saharan
Africa, to keep pace with the complexities of global economy,
emphasizing that the impact of the rising food and
energy prices is widening poverty in the two regions.
Erlinda
Basilio, Philippine permanent representative to the
United Nations in Geneva, said Unctad’s role is crucial
to help developing economies like the Philippines to
secure a more level playing field in integrating and
maximizing the development gains from the global
economy.
She said
the UN agency has a role to provide expertise and
technical cooperation to allow developing nations obtain
a clear understanding of the dynamic global situation
and adopt policy options.
Basilio
said Unctad should be providing assistance to developing
countries to address high and rapid rise of energy
prices and food prices.
“Unfortunately, this crucial role of Unctad has eroded
over the past few decades,” said Basilio during the 12th
Unctad conference held in Accra, Ghana.
“This
trend must be reversed. Unctad is one of the few global
institutions with the credibility to comprehensively
address current and emerging global trade and
development realities and problems. Unctad’s role must
be accordingly enhanced,” she said.
The
senior diplomat noted that the rapid increase in energy
and food prices not only affect the development
prospects of many countries but also the global economic
system.
She said
the “rapidly escalating global energy prices” have a
direct impact on the economic competitiveness of many
countries. “Spillover effects on the international
financial and monetary systems further disadvantage our
national economies,” said Basilio.
The
energy situation has also continuously aggravated the
critical situations in the agriculture and food sectors.
“Many countries, therefore, face the dual problem of an
energy crisis exacerbated by a food crisis, with
attendant effects on the global economic system,” said
Basilio.
The
official also lamented that various economies have spent
billions of dollars in official development assistance (ODA)
to good governance,” but only 1 percent of the total
global ODA has been spent on developing the agriculture
sector.”
Unctad
also plays a critical role in helping push for the Doha
negotiations in the World Trade Organization by
facilitating consensus building and help ensure
solidarity among developing nations in playing key role
in the architecture of the global economy.
Basilio
said to strengthen Unctad’s role in the global economy,
it should reinforce consensus building and analytical
capabilities of its secretariat. |
