Mr. Chairman,

Let me begin by extending our warm congratulations to you, Mr. Chairman, on your well-deserved election and pledge my delegation’s full support in discharge of your important duties. Our sincere felicitations also go to the other members of the Bureau.

My delegation associates itself with the statement made by the distinguished Permanent Representative of Sudan, speaking on behalf of the Group of 77 and China earlier this week.

Mr. Chairman,

The work of this Committee this year has been preceded by two important events which will undoubtedly guide our deliberations and decisions in the months ahead. I am referring here to the High-level meeting on Climate Change convened at the initiative of the Secretary-General and the General Debate of the 64^th session attended by an unprecedented number of world leaders. Both events have provided us with an optimism embedded in the strongly articulated political will to seal the deal in Copenhagen and renewed commitment to a new multilateralism, desperately needed in order to effectively address the multitude of global crises.

The food and fuel crisis coupled with the recent global financial and economic turmoil on top of climate change challenges have left no single country immune. The multiple nature of these crises has triggered a truly development emergency. Hence, a renewed commitment and a new vision for global cooperation is the order of the day. By strengthening the new multilateralism and applying its main principles, including that of equity, justice, fairness and solidarity we can take effective measures to address these complex challenges of the 21^st century. Global economic and financial crisis needs to be dealt with along with our coherent action against food and energy crisis, climate change, natural disasters and pandemic flu. Thus the Committee should address these issues by forging pragmatic, timely and workable solutions, including by effectively following up on the Outcome of the UN Conference on World Financial and Economic Crisis and its Impact on Development held last June.

In this respect we look forward to the Open Ended Working Group of the General Assembly to start its work at the earliest. My delegation also reaffirms the leading role of the UN in promoting a coordinated response by the international community to address the new challenges, especially in assisting the vulnerable and small economies with special needs. In particular, our work should contribute towards efforts to establish an effective early warning system to develop sound resilience to future shocks. In this regard, we welcome the setting up of the UN’s GIVAS (Global Impact Vulnerability Alert System) to monitor the impact of the crises on the most vulnerable. We also fully support the recently adopted ILO Global Jobs Pact.

Mr. Chairman,

The global financial and economic crisis has created many additional hurdles to financing for development since the adoption of the Doha Declaration. The strain in the financial sector has led to a subsequent downturn in overall economic growth, investment flows, trade and ODA. As the Secretary-General has pointed out in his relevant report before the Committee, “At a time when resources are scarce, innovative approaches to financing are needed to address the challenges of poverty reduction and sustainable economic development”. Some innovative approaches have already produced tangible results. However, the beneficiaries, first and foremost, should be the poorest and the most vulnerable.

It has been increasingly recognized that the most vulnerable economies of LDCs, LLDCs and SIDCs are the hardest hit. These countries with resource-based economy dependent on a few export products have been dramatically traumatized by the soaring fuel prices and food shortage.

To overcome these crises, to address the causes of the crises and to develop sound resilience in the future, we all have to work together in a much more coordinated and forceful manner. With this in mind the Government of Mongolia decided to establish and host the International Think Tank of the LLDCs designed to enhance the analytical capability of landlocked developing countries in coordinating and substantiating our efforts to pool the best minds and mobilize targeted resources from the donor community to implement the Almaty Program of Action and achieve our respective MDGs.

I am pleased to inform this august body that the Think Tank was launched in Ulaanbaatar last July jointly by the Secretary-General Ban Ki-moon and my Foreign Minister S. Batbold. Now we ought to work on its institution-building and developing its program of work for the coming years. In this endeavor we would rely on the wisdom and collaboration from our fellow members on how to empower and nurture our nascent institution. My delegation intends to call for a separate meeting of the LLDCs in the course of this session to discuss in greater detail these and other arrangements related to the functioning of the think tank. I wish to also express my delegation’s deep gratitude for the strong support of the Group to the operationalization and realization of the mandate of the institute clearly expressed in the Ministerial Communique adopted on 25 September by our Foreign Ministers. We would like to also strongly encourage an active engagement of our partners in this endeavor.

Mr. Chairman,

Recently, the G-20 Pittsburgh Summit has agreed on the Framework for Strong, Sustainable and Balanced Growth. We welcome it and look forward to its implementation. At Pittsburgh the G-20 has also designated itself to be the premier forum of their international economic cooperation. In this respect, my delegation supports the UN position clearly expressed by the DSG that this framework has to be more inclusive and should set up an institutionalized working mechanism with the UN. We welcome the resolve of G-20 leaders to fight protectionism and their commitment to bring to the successful conclusion the Doha Round in 2010. These multilateral trade negotiations have to result in a truly development-oriented outcome.

Achieving the internationally agreed development goals, including the MDGs, should remain the guiding force of our concerted efforts and decisions as we are speedily approaching the set deadline. It is imperative to ensure an effective monitoring and evaluation of the attainment of the MDGs, both progress and setbacks, so as to provide meaningful inputs for the MDGs Review Summit next year.

Mongolia stands strongly committed to achieving the MDGs. Over the last few years our economy was growing with an average GDP growth rate of around 9 percent, which is expected to significantly drop by the end of this year due to the crisis. The third progress report recently produced by the Government reveals that out of 24 Mongolia-specific MDG targets, about 66 per cent have been achieved or are likely to be achieved by 2015. However, important goals of halving poverty, ensuring environmental sustainability still remain most challenging ones, especially against these turbulent times. It requires our undivided attention, redoubled efforts and effective partnership with our bilateral and multilateral partners.

Efforts to achieve the MDGs are being taken simultaneously with the measures to implement the national plan of action to overcome the current financial and economic crisis approved by Mongolia’s Parliament earlier this year. The plan envisages specific policy and fiscal action designed, inter alia, to improve food supply and security, stimulate industrial development and employment; ensure safety and security of energy supply, stimulate the real economy growth; and to protect the vulnerable and low- income families from crisis impact through introduction and enhancement of various social safety nets.

Having recognized the urgent need to address the food crisis the Government of Mongolia took the necessary actions both at policy and practical levels to reduce its severe impact on the population. As a result of the nation-wide campaign of the “Third National Crop Rehabilitation Drive”, Mongolia is expected to ensure 80 per cent of the major staple food products by the end of this year. Our goal is to become self-sufficient in major foodstuffs by 2010. In this respect, we look forward to the World Summit on Food Security to be held in Rome next month to result in an effective global response to help over a billion hungry people around the world and ensure food security on a more sustainable basis.

A few days ago the Government of Mongolia adopted an Industrialization Program aimed at intensive development of mining and processing industries, agriculture, small and medium-size production based on local raw materials, enhancing transportation, communication, public utility services and increasing self-sustainability in food production.

In conclusion, Mr. Chairman, I would like to reiterate my delegation firm confidence that under your skilful leadership this Committee would be able to deliver meaningful outcome that would assist us all in overcoming the multitude of complex challenges facing the international community.

I thank you for your attention.