National Statement – 4th International Conference on Financing for Development

Ngā mihi te rangi, ngā mihi te whenua, ngā mihi ki a koutou, kia ora mai tatou.
I greet the earth, I greet the sky, I greet all of you, good afternoon.

Mr Chair, Dignitaries, I'd like firstly to acknowledge His Majesty the King of Spain and the Government of Spain and thank them for hosting us. Thank you.

New Zealand is strongly committed to the 2030 Agenda for Sustainable Development. While we currently face an array of global challenges, we must remain steadfast in our commitment to progressing sustainable development.

New Zealand is pleased by the adoption of the Compromiso de Sevilla. Allow me to briefly illustrate three areas New Zealand is prioritising in taking this commitment forward: support for multilateral cooperation; support for free trade; and support for Small Island Developing States.

Multilateral cooperation

Global challenges require global solutions. To address challenges such as ongoing conflicts and global humanitarian crises, we must act collectively, cooperate, and demonstrate solidarity.

FfD4 has provided us with a unique opportunity to assess the broad financing for development agenda and consider how we can make it more effective in addressing challenges. The adoption of Compromiso de Sevilla demonstrates that despite our differences, we can work together to improve shared prosperity.

In fact, in many ways the true test of our shared commitment is yet to come - the extent to which we live up to our commitment. We must continue to work together in the coming period to implement the Compromiso de Sevilla. Developed and developing countries, alongside international organisations, must draw on this document to guide our actions over the coming decade if we are to achieve sustainable development for all. New Zealand is committed to playing our part in this.

Trade

Free trade is a cornerstone of prosperity for New Zealand, as it is for many countries. At this time of global economic turmoil, it is important we commit to protecting the rules-based trading system. This system has provided certainty, transparency and market access. This is equally important for a trading country like New Zealand as it for developed and developing countries around the world.

Therefore, New Zealand will continue to advocate for the work at the World Trade Organisation (WTO) to ensure that developing countries benefit fully from the global trading system. In particular, we must urgently reform agricultural trade, including agricultural and fisheries subsidies. These subsidies distort trade and production, and are environmentally harmful. Disciplines on fisheries subsidies are especially important to the Pacific, where fisheries are a central part of Pacific economies and livelihoods.

New Zealand will also continue to support the Sustainable Development Goals through trade, for example, through implementing the provisions in our trade agreements such as on trade and labour, trade and gender, and trade and environment.

Small Island Developing States

Advancing the interests of Small Island Developing States is a central part of New Zealand's foreign policy. Our Pacific neighbours, all of whom are SIDS, are among our closest partners and friends.

We have consistently heard from our Pacific partners that for development assistance to be effective, it must be tailored to their unique circumstances as SIDS and as large ocean states. It is critical that we recognise unique vulnerabilities of SIDS, for example, narrow economic bases and exposure to the impacts of climate change, and tailor development solutions to meet their needs. Donor coordination is particularly important in small countries; donors' support will be more effective when we minimise the burden that we place on developing countries.

New Zealand delivers a significant portion of our development programme in the Pacific as budget support. This builds Pacific resilience by providing much needed finance, strengthening government systems, and driving reforms to support economic development and public service delivery.

We recognise that high levels of debt and the high cost of debt servicing can limit the ability of governments to provide public services, respond to external shocks, and build the resilience of their economies. Our use of budget support promotes fiscal sustainability. It also improves partner countries macro-economic policy settings, including strengthening efforts to sustainably manage debt.

Mr Chair, we must turn our focus to implementing the Compromiso de Sevilla and to urgently improving progress towards achieving the SDGs. We commit to these goals. Thank you.

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