NAIROBI, Kenya, Jul 19 – The 14th United Nations Conference on Trade and Development (UNCTAD) President Ambassador Amina Mohamed has assured that there will be a conclusive and balanced trade document to be adopted this Friday.
Mohamed who is Kenya’s Foreign Affairs Cabinet Secretary says so far there are healthy discussions ongoing and which will ensure increased trade inclusion among all UNCTAD member states.
The document as well as final negotiated text will now be dubbed as ‘Nairobi Consensus’ and is aimed at guiding the mandate of UNCTAD for the next four years.
“I would not want to say much about the actual contentious issues but what I will assure you is that the delegates have been having a healthy debate and are working eve late hours towards adoption in time,” she said adding that the they plan to conclude the trade talks latest Thursday.
Among other things, the 14th UNCTAD outcome document is expected to give full support to the UNCTAD mandate on curbing tax evasion and avoidance to ensure fair trade.
UNCTAD is expected to continue strengthening the evolution and management of globalisation and to the interdependence of trade, finance, investment and technology as they affect the growth and development prospects of developing countries.
Apart from the ‘Nairobi Consensus’, the Kenyan capital will also be remembered for the political declaration also expected to be made Friday this week at the conclusion of the global conference.
The declaration which has been given the name ‘Nairobi Azimio’, will mainly provide political guidance to the future work of UNCTAD.
“I want to express my gratitude to all delegation attending the conference for the way they are carrying out the deliberations in this UNCTAD 14 conference,” Mohamed said.
Even as the conference continues, concerns have been raised on the role that UNCTAD will play in influencing global trade and development in the future as it is gradually relegated to an implementation mechanism for trade agreements.
In the recent past, Western member states of UNCTAD have come under intense criticism for their sluggishness in supporting the agency’s initiatives and expanding its roles to cover other areas crucial for the advancement of developing countries.
Negotiations in the lead up to 14 UNCTAD have continually exhibited a desire to curtail UNCTAD’s independence and the much needed-balance between the wants of the global North and South.