STATEMENT (2C) : JOINT MEETING OF THE SECOND COMMITTEE AND THE ECONOMIC AND SOCIAL COUNCIL

INTERVENTION BY

MS. YANG AISHAH ADNAN

FIRST SECRETARY

PERMANENT MISSION OF MALAYSIA TO THE UNITED NATIONS

AT THE JOINT MEETING OF THE

SECOND COMMITTEE AND THE ECONOMIC AND SOCIAL COUNCIL

“LEVERAGING COMMODITIES FOR SUSTAINABLE ECONOMIC DEVELOPMENT”

Co-Chairs,

Excellencies,

2. Malaysia wishes to convey its appreciation to you for convening this Joint Meeting on a very important subject, particularly for nations reliant on commodities. We also thank the keynote speaker and panelists for their valuable insights.

3. The panel discussions held today, in our view, underline the key challenge –– that is for developing countries to rethink and reassess their commodity sectors, with the support of appropriate policies, to translate their natural resource wealth into catalysts for sustainable and resilient development.

4. At present, Malaysia is actively implementing the National Agricommodity Policy 2021-2030, with its ultimate aim to empower small-scale farmers to engage in modern, technology-driven agriculture, thereby promoting the adoption of 'smart' agricultural practices.

5. We believe science, technology and innovation serve as a powerful tool in transforming commodity-dependent economies.

6. On a related context, my delegation would be interested to hear the panel of experts elaborate on effective mechanisms for developing nations to establish robust governance and transparency measures within their commodity sectors as it is well understood that revenues generated from these sectors can provide a lucrative source of sovereign financing.

Thank you for your attention.