Road to Sevilla 2025

Programme

Panel discussion 6 on specific actions in the first draft of the outcome document on ‘II.D. Trade as an engine for development’

Introductory remarks and moderation

H.E. Ms. Alicia Buenrostro Massieu, Deputy Permanent Representative of Mexico to the United Nations

H. E. Mr. Lok Bahadur Thapa, Permanent Representative of Nepal to the United Nations

Panelists

Mr Guy Lamothe, Director of Cabinet of the Ministry of Planification, Haiti

Mr Charles M Mujajati, Director of Economic Planning and Modelling, Ministry of Finance, Economic Development and investment Promotion, Zimbabwe

Discussants

Mr. Patrick Olomo, Department of Economic Development, Tourism, Trade, Industry, Mining, African Union Commission

Mr. Manuel Montes, Senior Advisor, Society for International Development

Interactive discussion (2-minute time limit)

Background and Guiding Questions

International trade as an engine for development is increasingly under threat. Tariffs and trade restrictions are on the rise globally amidst rising trade tensions and stalled multilateral negotiations. Developing countries, in particular LDCs, LLDCs and SIDS with limited productive capacities and trade infrastructure, have challenges integrating productively into the world economy. This calls for concrete measures to improve their capacities to trade and generate value-added, with a focus on the furthest behind including from trade in commodities and critical minerals. It also calls for a recommitment to multilateral trade that upholds policy space for sustainable development within a universal, rules-based, fair, open, transparent, predictable, inclusive, non-discriminatory and equitable system.

The trade chapter of the first draft contains actions to preserve the multilateral trading system as a key driver of economic growth and sustainable development; strengthen trade capacities of developing countries, in particular LDCs, LLDCs and SIDS, and their ability to integrate intro regional and global value chains in a very challenging global context; boost trade in LDCs, many of which remain marginalized and dependent on natural resources and primary commodity exports; and to increase local value addition and beneficiation of critical minerals and commodities in developing countries.

Panelists in this session are invited to pay particular attention in their interventions on the proposals on preserving trade as an engine for development, in particular for developing countries. They are invited to address the following questions:

• How can FFD4 support reform of the multilateral trading system and preserve the role of trade as an engine for development, particularly for developing countries? (actions 36 a-f and 37 a-d)
• How can FFD4 strengthen international cooperation to ensure that developing countries and local communities endowed with critical minerals and commodities fully benefit from these resources? (action 39a)

Programme

Panel discussion 7 on specific actions in the first draft of the outcome document on ‘II.B. Domestic and international private business and finance’

Introductory remarks and moderation

H.E. Ms. Merete Fjeld Brattested, Permanent Representative of Norway to the United Nations

H.E. Mr. Chola Milambo, Permanent Representative of Zambia to the United Nations

Panelists

Mr. Ramon Boone, Ministry of Finance, Belgium

Mr Anthony Swan, Director, Development Finance and Economics, Department of Foreign Affairs and Trade, Australia

Discussants    

Mr. Thomas Beloe, Director, Sustainable Finance Hub, UNDP

Interactive discussion (2-minute time limit)

Background and Guiding Questions

Private business activity, investment, and innovation have acted as significant drivers of sustainable development since the adoption of the Addis Agenda. Nonetheless, global investment growth has decelerated in recent years. Despite increased attention to innovative finance instruments such as blended finance and the growing adoption of sustainable business and finance legislation, investment in sustainable development has fallen short of expectations, nor have companies and investors adequately prioritized sustainable development.

The first draft of the outcome document commits to actions to address key barriers: underdeveloped financial and capital markets in many developing countries; insufficient access to concessional and affordable finance, particularly for women, marginalized groups, and micro, small, and medium-sized enterprises; and the continued misalignment between short-term financial incentives and long-term sustainable development impact. Actions include enhanced capacity support, and adoption of policy frameworks and incentives for sustainable private investment at national and global levels.

Panelists in this session are invited to pay particular attention in their interventions on the proposals on SME and local currency financing, on private capital mobilization for sustainable development impact and standardization of relevant instruments, and on the business case for sustainable business and finance and relevant regulations. They are invited to address the following questions:

• What practical steps can be taken to strengthen domestic financial markets and local economies - including local banks - to expand MSMEs’ access to affordable credit, particularly in developing countries? (action 27g)
• How can the availability of local currency lending be increased to mobilize additional private capital for sustainable development, and what role should MDBs and DFIs play in scaling these efforts, including in improving impact? (action 28l, 31n)
• How can innovative financing mechanisms (e.g. blended finance, impact investment, and thematic bonds) be scaled and made more accessible to investors, to support sustainable development investment? (action 28g)
• How can governments and regulators build the right enabling environments and regulatory frameworks for sustainable business and finance, in alignment with both national development priorities and international standards for cross-border investment? (action 29 d-g)