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Statement by H.E. Ambassador Zhang Yesui, Permanent Representative of China to the United Nations at Special High-level Meeting of ECOSOC with the Bretton Woods Institutions, the World Trade Organization and the United Nations Conference on Trade and Development

 

27 April 2009

 

Madam President,

I fully support the positions expressed by the Sudanese Ambassador on behalf of the Group of 77 and China. I would like to stress the following three points:

1. Three weeks ago, a host of consensus was reached at the G20 Summit in London on how to address the global financial crisis. The summit put the issue of development high on its agenda. It reaffirmed the historic commitment to meeting the Millennium Development Goals. The summit decided to make resources available for the poorest countries through voluntary bilateral contributions to the World Bank's Vulnerability Framework, and provide $6 billion concessional finance to the poorest countries by using resources from sales of IMF gold and surplus income. These decisions are important and timely. We hope the agencies concerned will make earnest efforts to implement them.

2. Trade is one of the most important engines of the world economic recovery. The financial crisis should not provide any legitimacy for trade protectionism. On the contrary, in tackling the financial crisis, it is all the more important to consider how to resist trade protectionism. The World Economic Situation and Prospect for 2009 issued by the United Nations points out that "international coordination is not only about concerted fiscal spending, but also about avoiding emerging forms of indirect protectionism in the design of fiscal packages". This merits great attention from policy makers. The Doha Round of negotiations concerns the global trade liberalization process. We need to push for early, comprehensive and balanced outcomes from the negotiations. Efforts should also be intensified to promote the "aid for trade" initiative of the WTO to help the developing countries strengthen their capacity building.

3. The Conference on the World Financial and Economic Crisis and Its Impact on Development to be held on June 1-3 will be a major action taken by the UN System in response to the financial crisis. During this conference, we need to listen to the voices of the Member States, especially the developing countries, send a positive signal to the international community on our unity in tackling the financial crisis, and make contributions to reducing the negative impact of the financial crisis on the most vulnerable groups and achieving the MDGs. We also hope to hear the views of the developing countries on reform of the international financial architecture.

Thank you, Madam President.

 

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