Mr. President,
Cuba associates itself with the statement delivered by Pakistan on behalf of the Group of 77 and China, and wishes to deliver the following remarks in its national capacity.
I thank the President of the General Assembly for convening this informal interactive dialogue on commodity markets, in follow-up to the provisions laid down in General Assembly resolution 76/194.
The topic that brings us together here today, takes on particular significance within a context in which the prospects are not promising. The decrease in exports, the instability in commodity prices, the decline in foreign direct investment, the unsustainable levels of indebtedness and the outflows of capital, impair the ability of many of our countries to maintain high foreign exchange reserves and limit the fiscal space we require to finance the response to COVID-19.
The fiscal constraints faced by developing countries prevent governments from taking public action to support their populations in overcoming the pandemic, boosting economic production and at the same time investing resources in complementary infrastructure, technology, innovation and capital goods imports to diversify their economies and not become exclusively dependent on the commodity sector.
Technology and innovation are increasingly playing a key role in the process of economic transformation and diversification.
Most developing countries, however, are still far from achieving these levels of technological development, which would enable them to reduce their dependence on commodity exports and enter the global market with higher competitiveness.
A reform is needed in international value chains, generally controlled by transnational corporations, which enables developing countries to achieve a higher degree of industrialization of their products. This becomes indispensable for the advancement of our nations and thus, overcoming the barriers of underdevelopment, inherited, to a large extent, from a colonial past.
Industrialized countries have the moral duty, the financial and technological means and the historical responsibility to increase cooperation with developing countries and make a decisive contribution to the creation of an international environment conducive to sustainable development.
Against this backdrop, it is clear that it is imperative to transform the existing unjust international economic order and unequal production and trade relations.
Mr. President,
We must reject protectionist and discriminatory practices in trade that hinder our countries´ development efforts. Cuba strongly rejects the application of unilateral coercive economic measures, inconsistent with international law and the United Nations Charter, which hamper the fulfillment of the 2030 Agenda. These illegal and inhumane measures prevent our countries from entering international markets, including commodity markets, on equal footing, in a fair and inclusive manner.
In the case of my country, for six decades we have been resisting a harsh economic, commercial and financial blockade imposed by the U.S., which brings about great hardships to the Cuban people and constitutes the main hindrance to the development of my country. This policy prevents Cuba from maintaining normal relations with international financial institutions and companies from other countries, from having equal access to the best technologies and from being able to establish normal trade, financing or investment relations with the world.
Mr. President,
You can count on Cuba's support in promoting initiatives that enable to find solutions to the inequality in the commodity market and to the dependence of developing countries on commodities.
Humanity today has enough expertise, technologies and funds to wipe out extreme poverty and achieve a sustained and inclusive economic growth in all countries of the world, only a real political will, not merely words, is needed to achieve this.
Thank you very much.