Theme:  Impact of Frontier Issues on Youth Employment and Productive
Interactive Dialogue  

Thank you, Mr. Chairman, for giving me the floor.

Before I share my perspective, I wish to appreciate Egypt’s excellent leadership of the Group of 77 for the past nine months and welcome the state of Palestine as new Chair of the Group for the year 2019. This is the period in which the Group completed many important works, including the tough negotiations on UNDS repositioning. As much of the work lies ahead, I am confident that your leadership will be successful in defending our common interests. As the time ahead is even more challenging, we need to further consolidate the Group's unity and solidarity for a meaningful multilateralism. Nepal will continue to play its role to this end.

Today, the world is at the cusp of transformation. With breakthrough in innovations, the technological change is happening in exponential proportions. 

These innovations have the potential to change the mode of production, and to increase the productivity. However, there are concerns that the technological revolution will lead to massive youth unemployment, declining wages and increasing inequality.

In many cases, youths are driving the innovation. With the ongoing developments in automation, 3D printing, machine learning, Artificial Intelligence, gene editing and robotics; the technological innovation will be the main engine of productivity growth.

However, it can also be a major force of disruption. Income share of labor force has been declining. Some of these technologies could result in the elimination of semi-skilled jobs.

While the new jobs will be created as a result of this change, the benefit will go mostly to the high-skilled workers. This could further exacerbate inequality as well as impoverishment. 

Many LDCs have limited energy infrastructure, broadband networks, transport connectivity and the required skills. Landlocked developing countries are further disadvantaged when it comes to connectivity.

With the rapid technological change in the developed world, without technology transfer to the neediest, the Global Value Chains could become more concentrated. In the pursuit of leaving no one behind, this will be an important hurdle. 

In rapidly changing times, we cannot remain as mere bystander. While a tremendous transformation happens, approach of wait-and-see is a recipe for wait-and-sink. 

Proactive policies are needed to ensure that the gains are shared. We need to invest in skills development as well as infrastructures, and make the workforce adapt to the changing world. 

A timely response at the multilateral level is important.

A coordinated approach can harness the multiplier effects of technological innovations, while distributing the gains. This will ultimately help in achieving the Sustainable Development Goals. 

I thank you.