GENEVA, Oct 22 (KUNA) -- The State of Kuwait on Wednesday affirmed necessity that international organizations namely the UN Trade and Development (UNCTAD) play a more effective role in enabling developing states overcome structural challenges and build productivity potentials.
This is attainable through the boosting of technological cooperation, technology transfer, facilitating investments and sustainable funding, said the State of Kuwait Permanent Representative at the United Nations and International Organizations in Geneva, Ambassador Nasser Al-Hayen.
Ambassador Al-Hayen, who was addressing UNCTAD's 16th Conference, admired the agency's pivotal role throughout six decades in supporting sustainable development, building productivity capacities of the developing states at the economic, social and environmental levels.
He underlined significance of boosting multiplicity, activating global cooperation according to openness, justice and transparency for attaining sustainable development and prosperity.
State-level aid for development and easy funding should be an effective means to back up development in the developing states, in addition to bolstering cooperation among states of the South in tandem with the cooperation between the South and the North, he added.
The Kuwaiti Government strongly believes in open trade, based on the development aspect, out of its conviction that prosperity should be for all.
Kuwait, since its independence, has sought to strengthen the values of democracy, stability, attaining socio-economic development, combating poverty and attaining social justice, Al-Hayen continued.
He alluded as a tangible example of Kuwait's relevant policy to the founding of Kuwait Fund for Arab Economic Development as the first such development agency at the regional level to support developing countries, fund projects in vital sectors covering agriculture, energy, water, transports, education and health. Moreover, Kuwait established in 1998 the free trade zone to encourage external investments and enhance inter-trade in the Gulf.
Ambassador Al-Hayen expressed hope the conference would adopt a strategic vision based on constructive cooperation and cooperation among states of the world to facilitate global trade and narrow the gap between advanced and developing states.
Concluding his speech, Ambassador Al-Hayen affirmed the State of Kuwait's unwavering stand of supporting the legitimate rights of the Palestinian people namely their right to determine their destiny, establish an independent state to the June 4, 1967, borders, with East Jerusalem as its capital.
Moreover, he supported enabling the Palestinian people in their endeavors to attain sustainable development. (end) amk.rk