Cabo Verde UNCT – Retreat on prioritization

Intervention Isabelle Durant, Deputy Secretary-General, UNCTAD

Excellency,

Ladies and gentlemen,

It is my pleasure to be part of your retreat which has a very important objective: Creating a shared vision for the future of the UN assistance in Cabo Verde, and identifying the strategic focus for the next Cooperation Agreement Framework.

This is a critical moment in time as the world is shaken by a crisis that has reached every corner - and island - and has shown the cracks and limits of our development path. Foremost, the glaring inequalities and vulnerabilities that are a threat to our joint prosperity and aspirations. I think about the uneven capacity of governments to react to the crisis, the inability to access funds for recovery by those countries and people most in need, and the highly uneven access to vaccines.

And yet, the COVID-19 pandemic is not the only challenge. We are amidst a climate emergency, which is especially threatening for small island developing states, and a digital revolution which has left many behind.

We thus need to build a new development framework which more fully integrates inclusiveness, climate change and the environment. Our current approaches are no longer adequate for the world we live in today. For instance, since the creation of UNCTAD in 1964, CO2 emissions per year have almost quadrupled, fish stocks were not depleted as they are today, and the extinction of species has never been as fast.

Digital solutions have been fundamental to deal with the COVID crisis, but the ability to benefit from the digital economy has been widely uneven. We see widening digital divides across and within countries, as well as between women and men. To ensure that the digital economy can be supportive of development, much more than connectivity is needed. It requires digital literacy and supportive legal frameworks, amongst others. The key point is that countries must avoid becoming mere consumers or providers of raw digital data. They need to build the capacities to transform data as this is the resource of the future.

The COVID pandemic has clearly shown how globalized our world is. But there are important shifts in economic integration with the emergence of increasing regional poles. Evidence are the new, extensive trade agreements, such as the AfCFTA, or the Regional Comprehensive Economic Partnership (RCEP). We can expect a regionalization of trade and investment, marked by shorter value chains. If supported with adequate policy frameworks, this offers new opportunities for employment, income, trade, etc.    

Tackling the multiple challenges and fostering the needed transformations requires significant resources, expertise and the best of the UN family. A new UN Sustainable Development Cooperation Framework is thus opportune. But it is also a big task.   

We are proud to have been a partner of Cabo Verde for many years. We supported Cabo Verde in the graduation process from the LDC category and the accession to the WTO. We worked with Cabo Verde in enhancing its competition and consumer protection laws and policy frameworks, investment promotion and policy, and trade facilitation, especially in the area of maritime transport and customs operations. 

We are delighted to also be part of the future joint UN assistance, to enhance our cooperation and strengthen links with the UN Country Team.

What can UNCTAD bring to the table?

We bring extensive experience and expertise in the area of trade and development - at the national, regional and global level. Our work has centered around identifying policy options and formulating policy recommendations. These can be turned into joint programmes in the context of the Cooperation Framework.

For instance, we see many opportunities in the area of investment. Our Investment Policy Review, carried out in 2018, examined Cabo Verde’s business operations, business linkages, investment promotion and entrepreneurship development. We see our role as a policy adviser to the Government’s decision makers to ensure that conditions are met to build the appropriate investment policy framework, in order to leverage private investments and also ensure its alignment with development objectives.

More broadly, we see our role in evaluating the implications of policy on development, and advising on policies that can contribute to development in line with the Sustainable Development Goals.

Given the challenges the country faces, our expertise in the area of debt, regional integration or the blue economy may also be relevant. We offer a widely tested debt management platform, and have continuously advocated for changes in the international financial architecture. In terms of economic integration, we have, for instance, been supporting the AfCFTA with access to data and analysis on non-tariff measures, and the understanding of rules of origin.  We have worked extensively on the ocean economy, such as decarbonizing maritime transport, promoting resilient port infrastructure, supporting countries in finding solutions to harmful fish subsidies, using Biotrade standards for the sustainable production and trade of ocean products, and fostering a tourism sector which is more inclusive and sustainable.

Lastly, I want to mention our experience in partnering and engaging with the UN family. We contributed to the UNDAFs of the eight One UN Pilot countries with progressive and continuing enlargement. And by now, we have been involved in Cooperation Frameworks of 40 countries.

Our operations are developed through the UN Inter-Agency Cluster on Trade and Productive Capacity. The cluster is dedicated to coordinating trade and development operations in the UN System. It offers comprehensive solutions with minimized transaction costs.

Yes, I cannot deny that UNCTAD’s greater involvement in Cabo Verde would require the necessary funding. It is much welcomed that the Government of Cabo Verde has decided to continue using the One UN Fund mechanism for the 2023-2027 Cooperation Framework, as the One UN Fund proved to be a good instrument to boost inter-agency collaboration and delivery.

I am convinced that the UN must deliver coherent, efficient and transformative support to assist Cabo Verde in its recovery from the COVID crisis and the building of a more resilient, inclusive and sustainable future. And we will be pleased to do so. You can fully count on us.

We look forward to engaging with you and I thank you for the invitation.