Kuwait: Reforming the Financial and Economic System to Achieve Development

Ambassador Sadiq Maarefi, Assistant Minister of Foreign Affairs for International Organizations Affairs, emphasized the importance of continuing efforts to reform the international financial and economic system to make it more just, equitable, and responsive to the needs of developing countries, thereby enhancing opportunities for trade and investment, eradicating poverty, and achieving sustainable development.

He made these remarks in a speech delivered on behalf of Kuwait during the High-Level Meeting commemorating the 40th anniversary of the Declaration on the Right to Development, held at United Nations Headquarters in New York on the sidelines of the High-Level Week of the 81st session of the UN General Assembly.

The meeting addressed ways to bridge development gaps, strengthen international partnerships, and the role of national policies and multilateral cooperation in creating the necessary conditions for realizing the right to development. It also highlighted the importance of ensuring that all countries and peoples benefit from development opportunities and economic and technological transformations.

The meeting was held to mark four decades since the adoption of the Declaration on the Right to Development in 1986, with the aim of renewing international commitment to this right, reviewing progress made and existing challenges, and exploring ways to enhance international cooperation for inclusive, equitable, and sustainable development.