Economic issues

A strong global partnership was needed to address development issues such as poverty eradication and the impacts of climate change, said the representative of Lao People’s Democratic Republic, speaking on behalf of the Association of Southeast Asian Nations (ASEAN), as the Second Committee (Financial and Economic) took up global partnerships today.

Agriculture was the livelihood of the majority of people living in rural areas and had significantly contributed to alleviating poverty, the representative of Sri Lanka told the Second Committee (Economic and Financial) today as it considered agriculture development, food security and nutrition.

A free and open global trading system could be a powerful engine for economic growth and poverty reduction - particularly in turbulent economic times, the representative from Canada said today, as the Second Committee (Economic and Financial) took up macroeconomic policy questions.

Middle-income countries were vulnerable to being caught in a “middle-income trap”, whereby they risked losing their competitiveness to low-income countries while still lacking the technological edge to catch up to high-income ones, the representative of the Bahamas said as the Second Committee (Economic and Financial) took up globalization and interdependence.

Unless concerted efforts were taken to close the digital divide, many developing countries could miss economic opportunities, the representative of Nigeria said today as the Second Committee (Economic and Financial) took up information and communications technology.

A lack of access to the sea, as well as remoteness, made doing business with major markets expensive for landlocked developing countries, said the representative of Botswana today as the Second Committee (Economic and Financial) discussed countries in special situations.

It was time to place a value on unpaid work carried out by women, the head of UN-Women stressed today as the Second Committee (Economic and Financial) considered poverty eradication.

Free trade, increased investment, debt relief and efficient governance should lead the global response to development challenges, the representative of Saint Lucia said today as the Second Committee (Economic and Financial) took up macroeconomic policy.

Desertification and drought continued to aggravate crop failure, water shortages and livestock loss, several African countries told the Second Committee today as it concluded its general debate.