20 Apr 2012

DOHA / TRADE AND DEVELOPMENT

On the eve of the UNCTAD XIII Conference in Doha, UNCTAD Secretary-General Supachai Panitchpakdi said that finance should not be the “master of development” and that “whether it should be a slave of development it is something else, but finance should serve development.” UNTV

Posted at: April 20, 2012 4:51 pm

Duration: 02:01

Available in: SD

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Full script

STORY: DOHA / TRADE AND DEVELOPMENT
TRT: 2:01
SOURCE: UNTV
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / ARABIC/ NATS

DATELINE: 20 APRIL 2012, QATAR NATIONAL CONVENTION CENTER, DOHA, QATAR
 
SHOTLIST
 
1. Pan left, Qatar National Convention Center
2. Wide shot, flags of the UN and Qatar
3. Wide shot, walk-in of the GA President 
4. Med shot, reporters listening
5. SOUNDBITE (Arabic) Nassir Andulaziz Al-Nasser, President of the 66th General Assembly, United Nations:
"This is the first UNCTAD conference in the aftermath of the world financial and economic crisis. Therefore, the main theme chosen for this conference – 'Development-centered globalization: towards inclusive and sustainable growth and development' is most timely and appropriate."
6. Wide shot, podium
7. SOUNDBITE (English) Supachai Panitchpakdi, Secretary-General, UNCTAD:
"Finance should not be the master of development. Whether it should be slave of development it is something else, but finance should serve development."
8. Med shot, reporters
9. SOUNDBITE (English) Supachai Panitchpakdi, Secretary-General, UNCTAD:
"Some of the well-known economists say that we don't even have anything like financial architecture, it doesn't exist. Here is no such thing as financial architecture. So, there is no really the reform of financial architecture. We may have to invent, we have to think together the kind of financial architecture that would have the status along the lines of global multilateral trade architecture".
10. Med shot, flags
11. SOUNDBITE (English) Supachai Panitchpakdi, Secretary-General, UNCTAD:
"We have to do analysis. Actually upon the analysis we look for the way forward. Our analysis will cover the causes of the crisis, lessons to be learned that we prevent the happenings that mostly affect poor countries".
12. Wide shot, sculpture of a spider at the Convention Center

STORYLINE:

On the eve of a major United Nations (UN) ministerial conference on international trade and development, Ambassador Nassir Andulaziz Al-Nasser, the President of the United Nations General Assembly said that the conference called 'Development-centered globalization: towards inclusive and sustainable growth and development' was "most timely and appropriate".

Also addressing journalists at the briefing in Doha, Qatar, Supachai Panitchpakdi, Secretary-General of the UN conference on international trade and development (UNCTAD) said that finance should not be the master of development. He added that "whether it should be slave of development it is something else, but finance should serve development".

The 13th session, known as UNCTAD XIII taking place in Doha from 21 to 26 April, is the first such conference since the fallout from the 2007-2008 global economic crisis. The sessions are held every four years, and the theme of this year's session is 'Development-centered globalization: Towards inclusive and sustainable growth and development.'

Panitchpakdi said there was need for analysis. "Our analysis will cover the causes of the crisis, lessons to be learned that we prevent the happenings that mostly affect poor countries", he said.

Established in 1964, UNCTAD promotes the development-friendly integration of developing countries into the world economy, and seeks to help shape current policy debates and thinking on development, with a particular focus on ensuring that domestic policies and international action are mutually supportive in bringing about sustainable development.

It has long maintained that the current global economic and financial system has allowed a lop-sided system to flourish, with some participants reaping the benefits while global income inequality and financial imbalances have also accumulated.