95. In addition, we must move, seriously and expeditiously, to correct the inequities
that have long plagued the international system, to the disadvantage of developing
countries. We need a more equitable multilateral trading system, a conclusion of the
Doha round, and better access to technology, to medicines, and to long-term investments
for developing countries. We need a more fair representation of emerging and developing
countries in international financial and economic decision-making, better regulation and
more stability in the international financial and monetary systems, and sustainable debt
solutions. We must continue to remedy the policy incoherence between current modes of
international governance in matters of trade, finance, and investment on the one hand, and
our norms and standards for labour, the environment, human rights, equality, and
sustainability on the other.
96. As preparations for the Third International Conference on Financing for
Development in Addis Ababa get underway, there are high expectations for concrete
outcomes that would finance sustainable development and set the stage for a successful
outcome of the COP21 in Paris.
97. I urge Member States to consider and agree in particular to the following:
98. All developed countries should meet the 0.7% target and agree to concrete
timetables to meet ODA commitments, including the Istanbul commitments to LDCs
of 0.15% of GNI by 2015. It is important to ensure that the proportion of ODA going to
LDCs does not decline but continues to increase, be better targeted, more efficient, more
transparent, and that leverages additional resources. Smooth transition of countries
graduating from least developed country status is vital to ensure that these countries are
eased onto a sustainable development path without any disruption to their development
plans, programmes and projects. Provision should be made to increase funding to
facilitate capacities to implement tax reforms, thus improving domestic resource
mobilization. All other international commitments also need to be met.
99. Any effort to modernize ODA and measures of development finance should
be considered in an open and transparent forum with the widest possible participation of
donor and recipient countries and other relevant stakeholders.