VisionHawk
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Pakistan calls for exploring innovative means of development financing
Geneva: Mar 6 (APP): Pakistan has called upon the international community to explore innovative means of development financing with a view to attaining the Millennium Development Goals (MDGs).
Speaking on behalf of the Group of 77 and China at the 10th Session of UNCTAD's Commission on Investment, Technology and Related Financial Issues, Ambassador Masood Khan, Permanent Representative of Pakistan to the United Nations office in Geneva, expressed concern at trends like the net outflow of US $ 350 billion from developing to developed countries in the year 2004.
Highlighting the role of Foreign Direct Investment (FDI) in development, Ambassador Khan called for impact studies of FDI in Asia, Africa and Latin America by UNCTAD in order to elaborate policy options and enhance policy space for developing countries.
He also emphasized the need of corporate social responsibility and maintained that transnational corporations and other foreign investors must contribute to the development of host countries in a demand driven manner.
Ambassador Khan stressed the importance of a development- oriented balance and policy coherence in the wake of growing complexity of International Investment Agreements (IIAs).
He said that UNCTAD's technical assistance was of utmost importance towards strengthening developing countries' ability to conduct negotiations in "new generation" IIAs as well as implementing them.
He added that UNCTAD should focus on undertaking Science, Technology and Innovation Policy (STIP) reviews and explore modes and mechanisms of transfer and diffusion of technology through FDI and other channels.
Earlier, Secretary General of UNCTAD, Dr. Supachai Panitchpakdi emphasized the importance of assuring development gains from the increase in investment flows to developing countries.
The week long session of the Commission attended by diplomats, academicians and experts will focus primarily on policy issues related to investment and development.
Geneva: Mar 6 (APP): Pakistan has called upon the international community to explore innovative means of development financing with a view to attaining the Millennium Development Goals (MDGs).
Speaking on behalf of the Group of 77 and China at the 10th Session of UNCTAD's Commission on Investment, Technology and Related Financial Issues, Ambassador Masood Khan, Permanent Representative of Pakistan to the United Nations office in Geneva, expressed concern at trends like the net outflow of US $ 350 billion from developing to developed countries in the year 2004.
Highlighting the role of Foreign Direct Investment (FDI) in development, Ambassador Khan called for impact studies of FDI in Asia, Africa and Latin America by UNCTAD in order to elaborate policy options and enhance policy space for developing countries.
He also emphasized the need of corporate social responsibility and maintained that transnational corporations and other foreign investors must contribute to the development of host countries in a demand driven manner.
Ambassador Khan stressed the importance of a development- oriented balance and policy coherence in the wake of growing complexity of International Investment Agreements (IIAs).
He said that UNCTAD's technical assistance was of utmost importance towards strengthening developing countries' ability to conduct negotiations in "new generation" IIAs as well as implementing them.
He added that UNCTAD should focus on undertaking Science, Technology and Innovation Policy (STIP) reviews and explore modes and mechanisms of transfer and diffusion of technology through FDI and other channels.
Earlier, Secretary General of UNCTAD, Dr. Supachai Panitchpakdi emphasized the importance of assuring development gains from the increase in investment flows to developing countries.
The week long session of the Commission attended by diplomats, academicians and experts will focus primarily on policy issues related to investment and development.
