The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
KAMPALA / WAM
On behalf of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, headed the UAE delegation to the Third South Summit of the Group of 77 and China, which was inaugurated by Yoweri Museveni, President of the Republic of Uganda.
The summit, under the theme ‘Leaving No One Behind’, took place in the capital of Uganda, Kampala, from 21st to 22nd January 2024, and was attended by heads of states and member states representatives.
During his speech at the summit, Sheikh Shakhboot bin Nahyan expressed his gratitude to the Republic of Cuba for its efforts during its presidential term of the Group of 77 and China in 2023. Sheikh Shakhboot also congratulated the Republic of Uganda on presiding over the group and for hosting the third session of the summit.
Sheikh Shakhboot bin Nahyan affirmed the UAE’s active role in implementing efforts to achieve the domestic and international goals of sustainable development, through collaboration with all relevant entities and member states, which benefits nations and societies across the world and contributes to a better future for current and future generations.
He highlighted that the objectives of sustainable development are foundations to build stable and prosperous societies that are resilient to challenges, which results in long-term positive and sustainable change, and shapes new prospects of growth and development.
Sheikh Shakhboot bin Nahyan also referred to the Summit of the Future, which will take place in September 2024, in New York, emphasising that such a historical assembly represents an opportunity to explore solutions that safeguard the well-being and prosperity of current and future generations, to rebuild global solidarity and trust in multilateral institutions.
The minister affirmed that the resolution, delivered during the successful Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) that concluded its events in Expo City Dubai in December, to operationalise a new Loss and Damage fund, along with commitments totalling US$792 million, was announced as a significant contribution to assist developing countries in addressing these damages.
He also highlighted that the UAE has launched the ‘Altera’ Climate Investment Fund as an incentivised tool specialising in financing climate action investments worth $30 billion. The fund aims to raise and stimulate an additional $250 billion to support global climate action, particularly in regions of the world that need it the most, especially in the Global South.
Sheikh Shakhboot bin Nahyan stated that multilateral action is necessary to address common global challenges.
He emphasised that important forums such as the G77 and China play an effective role in conveying the needs of developing and emerging economies at the international level.
These forums promote constructive dialogue aimed at developing and advancing nations, and consolidating the values of multilateralism, an essential aspect of supporting peace, security, and development at the global level.
He added that this is achieved by expanding trade flows between various countries, encouraging investment and tourism, enhancing cooperation, exchanging expertise in scientific and technological fields, development programmes and projects, as well as areas of natural disaster management, among others.
The UAE has also maintained its focus on diplomacy to reach consensus, and build bridges, while promoting the values of tolerance and coexistence. Moreover, the UAE has played a prominent role in confronting some of the most urgent challenges of our time. The country champions resolving conflicts through peaceful means, prioritises humanitarian relief, maintains peace, addresses global health crises, harnesses the potential of innovation, develops the international system to combat terrorism, and supports gender equality, empowering women and promoting their equal participation.
To conclude, Sheikh Shakhboot bin Nahyan stressed that during its membership in the UN Security Council from 2022-23, the UAE sought to fulfil its obligations during its term, which included securing peace, promoting inclusion, building resilience, and enhancing innovation.