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Statement by Ms. Rabab Fatima at the Commonwealth Secretariat Side Event Building Resilient Economies for a Common Future

Thank you, Madam Secretary-General.

Excellencies, Distinguished Colleagues,

A very good morning to you all.

 

 I am very pleased to join you and the Small States Advocacy Champions at the Fourth International Conference on Small Island Developing States (SIDS4).

SIDS4 is a significant  moment in our joint efforts to advance the UN-Commonwealth Advocacy Strategy for Small States.

It is a fitting platform to carry forward our work to mobilize global action and forge partnerships to support Small States.

 

Excellencies,

The Small States are bearing the heaviest brunt of the current global crises.

Their small size, geographic remoteness, narrow resource, and export base makes them vulnerable to exogenous economic, social, and environmental shocks and crises.

These shocks and crises are becoming more intense and interconnected. Climate-related disasters alone have almost doubled in the last 20 years. 

The complex and overlapping nature of these challenges have put their development progress at risk.

More than ever before, we need strong solidarity and partnership to help the Small States overcome these crises.

We need a firm plan to build resilience and get these countries back on course to achieve their sustainable development goals.

My Office is mandated to support the 92 most vulnerable countries of the United Nations: the Least Developed Countries (LDCs), Landlocked Developing Countries (LLDCs) and Small Island Developing States (SIDS).

All but 4 of the 33 Commonwealth Small States belong to one of these three groups.

Therefore, it is important that the UN and the Commonwealth work together to support these countries tackle their pre-existing challenges and overcome their structural vulnerabilities.   

 

Excellencies,

This week our priorities converge here in Antigua and Barbuda, where we will usher in a new generation of global commitment and partnerships for the SIDS.

In the Antigua and Barbuda Agenda for SIDS (ABAS), we have an ambitious and forward-looking strategy for the next decade of action.

This is our opportunity to put the spotlight - not only on the vulnerabilities and challenges of SIDS - but also on their tremendous potentials.

The ABAS has strong commitments for action on tackling their economic vulnerability, access to finance and debt sustainability.

It recognizes that the international financial architecture should go further to fully address SIDS’ unique development circumstances.  And it calls for enhanced and  easier  access to concessional finance for them.

The new Agenda also advances the discussion on how best multidimensional vulnerability could be incorporated into existing practices and policies.

And it proposes the establishment of a dedicated SIDS Debt Sustainability Support Service to enable sound debt management.  

These steps would be truly transformative for SIDS.

 

My Office is committed to  working with SIDS and other partners to advance these important  . Commitments.

We will continue to support the political process on  the  Multidimensional Vulnerability Index (MVI),

We will also continue our work to create and use more innovative financing tools and instruments tailored to the unique circumstances of SIDS.

We welcome the work that the Commonwealth has done on the Universal Vulnerability Index (UVI). It has been an important reference for our work on the MVI thus far.

We also welcome the breadth of work done on debt sustainability for Small States.

Here as well, our joint advocacy efforts can make a real difference.

We will also draw from your solution-based and action-oriented approach, as we deliver on the implementation of the ABAS.

 

 Excellencies,

My Office remains deeply engaged with all stakeholders in raising global ambition for climate action. We have long supported the Alliance of Small Island State (AOSIS) in this endeavour.

And we are very pleased to see that these efforts culminated in the historic agreement on the loss and damage fund at COP28.

The ABAS has also made a strong call to scale up climate financing, and to urgently operationalize the new loss and damage fund.

 

Excellencies,

The issue of climate justice will continue to remain at the heart of our advocacy efforts, especially now as we seek to ensure a SIDS-focused lens in the fund’s operations.

As we advance these priorities, my Office, together with the Commonwealth Secretariat, looks forward to working with the Advocacy Champions.

 

Excellencies,

SIDS4 is only the beginning.

Outcomes here must drive ambition at the upcoming Summit of the Future, and the Fourth Financing for Development Conference.

We need to take a collaborative approach to these landmark events, along with the upcoming COP29.

The success of these upcoming summits rests on our ability to address the challenges of the SIDS and other vulnerable countries.

As I conclude, I thank you, Madam Secretary General, and your team once again for engaging with my Office on this important work.

During these challenging times, it is important that we expand our partnership working to provide coherent and enhanced support to Small States.

We look forward to the Commonwealth Heads of Government Meeting (CHOGM) later this year in Samoa, which will be yet another important opportunity to focus on the priorities of small island states and reiterate our commitments.  

Together with you, Madam Secretary-General, I am happy to work alongside our Advocacy Champions on this journey to deliver.

 

I shall rest it here. Thank you for your kind attention.