Second Committee

The Second Committee (Economic and Financial) met this morning to fill the remaining vacant position on its Bureau for the sixty-seventh session of the General Assembly.

The Second Committee (Economic and Financial) of the General Assembly today elected, by acclamation, George Wilfred Talbot (Guyana) as Chair of its sixty-seventh session.

Concluding its session today, the Second Committee (Economic and Financial) approved three draft resolutions, including one on information and communications technology for development, by which the General Assembly would stress that the development promise of science and technology remained unfilled for the majority of the poor.

The General Assembly would stress the importance of continuing to consider the issue of development cooperation with middle-income countries, according to one of six draft resolutions that the Second Committee (Economic and Financial) approved by consensus today.

The General Assembly would stress the need for active measures to reduce excessive food-price volatility, while acknowledging the incomplete understanding of its causes and the importance of carrying out more research, according to one of five draft resolutions that the Second Committee (Economic and Financial) approved by consensus today.

The General Assembly would urge the international community to adopt urgent measures to eliminate the use of unilateral coercive economic measures against developing countries as they were inconsistent with the principles of international law and the multilateral trading system, according to one of 14 draft resolutions approved by the Second Committee (Economic and Financial) today.

The General Assembly would urge States and international organizations to protect coral reefs and related ecosystems while implementing integrated and comprehensive approaches to their management, according to one of 12 texts approved without a vote in the Second Committee (Economic and Financial) today.

The General Assembly would demand that Israel stop exploiting, damaging, depleting, and endangering the natural resources in occupied Arab lands, according to the terms of one of seven draft resolutions approved today by the Second Committee (Economic and Financial).

More than 10 years after the Monterrey Consensus was adopted, most countries remained well short of allocating 0.7 per cent of their gross national product (GNP) to official development assistance (ODA), and sharp reductions planned in response to the global economic and financial crisis made for a bleak forecast of future growth in foreign aid, the President of the Economic and Social Council told the Second Committee (Economic and Financial) today.

While the United Nations Global Compact represented a significant development in relations between the Organization and business, contributing significantly to the emerging consensus on the value of corporate sustainability, it was important to build on that progress, speakers in the Second Committee (Economic and Financial) heard today as they considered global partnerships.