Kenya lauds deal on increased mandate for UNCTAD

Kenyan President Uhuru Kenyatta has lauded an agreement which was sealed in Nairobi during the week-long UN trade conference which sets the body's work program for the next four years.

Kenyatta, who officially closed the 14th session of the UN Conference on Trade and Development (UNCTAD 14), hailed a global statement of unity on issues of trade and development following the adoption of the Nairobi consensus documents - Nairobi Azimio and Nairobi Maafikiano, known by their Swahili translation.

"I note that the Nairobi Azimio upholds the decisions taken at previous UNCTAD conferences. I urge all member states to implement the Nairobi Maafikiano," Kenyatta told the delegates.

"I am confident that the implementation of the Azimio and Maafikiano declarations will enable us to accelerate progress towards shared prosperity," he added.

The conference, which kicked off on Sunday, took place as analysts remain gloomy about the outlook for the world economy.

In the global north, many people have grown skeptical about the benefits of globalization, while poverty and inequality remain pervasive in the south.

The conference saw concrete progress including the launch of a new e-trade initiative, the first UN statistical report on the SDG indicators, the launch of a multi-donor trust fund on trade and productive capacity, and the commitment of more than 90 countries for a roadmap on fisheries subsidies.

The Nairobi Azimio outlines the important role of UNCTAD as the focal point within the United Nations system for the integrated treatment of trade and development in the areas of finance, technology, investment and sustainable development.

President Kenyatta used the opportunity to underscore the growing importance of UNCTAD in promoting balanced trade to spur development and reduce inequalities.

"The convergence of the world in Nairobi is a clear sign of our shared commitment to the mandate of UNCTAD and the significance of the role that it plays in trade and development," Kenyatta said.

Kenyatta had urged the participants and member countries of the UN to expand the mandate of UNCTAD so that it plays a bigger role in achieving the Sustainable Development Goals.

UNCTAD14 President, Amina Mohamed, expressed delight while negotiators laughed when the agreement was finally reached.

"As the president of this conference, I cannot begin to tell you how I feel right now," she told negotiators. It's a good day for Kenya, a good day for UNCTAD, and a big win for multilateralism," she said.

UNCTAD Secretary-General Mukhisa Kituyi said the successful manner in which the conference was organized shows that Nairobi's conferencing facilities are world class.

He said he was delighted that the 194 member states have been able to reach this consensus, giving a central role to UNCTAD in delivering the sustainable development goals.

"With this document, we can get on with the business of cutting edge analysis, building political consensus, and providing the necessary technical assistance that will make globalization and trade work for billions of people in the global south," he said. Endit