GROUP OF 77
GENEVA

STATEMENT BY THE GROUP OF 77 AND CHINA ON AGENDA ITEM 4: ECONOMIC DEVELOPMENT IN AFRICA AT THE SIXTY-FIFTH SESSION OF THE TRADE AND DEVELOPMENT BOARD (PART-II)
(Geneva, 1-4 October 2018)

Mr. President, H.E. Ambassador Salim Baddoura (Lebanon),
Mr. Paul Akiwumi, Director of the Division on Africa, Least Developed Countries and Special Programmes,
Excellencies,
Distinguished Colleagues,

I have the honour to deliver this statement on behalf of the Group of 77 and China.

We thank the Secretariat for preparing its report highlighting the activities carried out by UNCTAD in supporting Africa to achieve its development endeavours.

Mr. President,

The Group appreciate the efforts of the UNCTAD Secretariat through the technical cooperation pillar and looks forward to its continuity by enhancement efforts in building productive capacities for Africa and exchanging best practices to assist the implementation of SDGs as part of a broader effort to bring-about inclusive and sustainable development.

The Group recognizes the importance of UNCTAD research and policy analysis which provides pragmatic policy recommendations that support African countries in transforming their economies to accelerate sustainable development and facilitate the region's integration into the world economy. In this context the Group requests UNCTAD Secretariat to continue its activities across its three pillars of research and policy analysis, technical assistance and consensus-building to help African countries harness domestic and foreign investment as a means of catalysing structural transformation in their economies.

Mr. President,

The Group expresses its concerns that financial resources committed to Africa in 2017, total expenditure on national, regional and interregional projects in support of Africa stood at $15,887,439 which indicates the decline by 7.4 per cent form amount spent in Africa activities in 2016. In this regard the Group urges the Development partners to increase and sustain the support to UNCTAD activities.

The Group encourages UNCTAD Secretariat to continue its assistance to African countries to reduce the vulnerability of their economies due to commodity dependence, and to increase value addition of their economic activities from commodities, including agricultural goods by providing research-based policy recommendations, enhancing development linkages in the extractive sector and improving value addition in all agriculture products.

Stressing the importance of Debt Management and Financial Analysis System (DMFAS), we request the UNCTAD Secretariat to continue is support to African countries to strengthen their capacity to manage debt in an effective and sustainable way.

Mr. President,

Illicit financial flows are impacting developing countries, particularly in Africa. The Group welcomes UNCTAD work with the United Nations Economic Commission for Africa in defining, estimating and disseminating statistics on illicit financial flows in Africa, we call upon UNCTAD Secretariat to continue this endeavour and provide pragmatic solutions at all levels on illicit financial flows.

The Group appreciates the contribution of UNCTAD in its support to Africa in realizing its Agenda 2063 and the Sustainable Development Goals.

I thank you Mr. President.