Mr. President,
Secretary-General Supachai Panitchpakdi,
Excellencies,
Distinguished Delegates,

          Allow me at the outset to thank the Secretary-General of UNCTAD and the Secretariat for organizing this high-level policy dialogue to discuss these issues of great significance to us all.  I also wish to thank the distinguished members of the panel for their thought-provoking ideas.

          The issue of globalization, of course, is one that has generated great controversy as to the benefits and drawbacks of this powerful phenomenon.  To some, globalization is a force for good that will yield greater prosperity to the peoples of the world.  To others, it is a force for evil that threatens to destroy people’s livelihoods and traditional values.  Like most things, the truth lies somewhere in between.

          As noted my Minister Kituyi of Kenya, globalization is a phenomenon that will benefit us if we realize how to draw upon its positive side, while containing its negative aspects.  Designing strategies to enable us to reap the benefits of globalization is, therefore, something that we must all undertake together, not only among all sectors of society, but also among the international community.

          For globalization to benefit us all, all stakeholders must be given the opportunity to take advantage of globalization.  This entails attaching utmost importance to human resource development, ensuring that our peoples are equipped with the necessary skills and knowledge to deal with the challenges of the 21st century.  It also includes building the productive capacities of our domestic industries, particularly our small and medium-sized industries, to serve as the engine of our national growth.

          An important part of the equation, of course, is the issue of aid flows which, we believe, should be increased for developing countries in greatest need.  In this regard, it is essential that developed countries abide by their commitments of official development assistance to developing and least developed countries, and that any newly-pledged ODA increases are in addition to present commitments.

          In addition to aid, the issue of trade is no less significant in helping to empower the developing countries.  Such countries do not merely seek to wait for hand-outs, but wish to have the opportunity to help themselves using their own resources.  We must therefore enhance the ability of developing countries to trade their way out of poverty, particularly through the provision of a level playing field that ensures both free and fair trade.  For this reason, the suspension of the Doha Round of trade negotiations has dealt a serious blow to the multilateral system, and it is the least developed countries that will be hardest hit.  We therefore hope that all sides concerned will take this opportunity to pause and reflect on the fact that there can be no winners, only losers, if the talks are not resumed in the near future.

          Foreign direct investment is also another major driver of development for developing countries.  However, with the free flows of capital that are a feature of globalization, we must not only try to find innovative ways to attract capital but also institute an appropriate regulatory framework to manage such capital.  While host countries have an obligation to provide a conducive and stable environment for foreign investors, transnational corporations should also have a sense of corporate social responsibility to re-invest their profits for the benefit of the society.  At the same time, recipient countries should try to bear in mind that it is not the quantity of foreign investment that counts, but rather the quality and how such investment would benefit the country as a whole.

          These are just a few of my delegation’s thoughts on the subject of globalization for development.  I thank you,

Mr. President.