St. John¡¯s, Antigua and Barbuda
Thank you for the kind introduction. It is my pleasure to be here, both in my role as Secretary-General of the SIDS4 Conference, and as Under-Secretary-General for Economic and Social Affairs and head of UN DESA.
For the past four years, these Global Policy Dialogues have been an important tool for us to stimulate crucial conversations to accelerate action towards the Sustainable Development Goals.
I am happy to join you for this Dialogue to discuss the economic prospects for SIDS, on the sidelines of this important Conference for their future.
We will be hosting a second dialogue on Thursday to address SIDS demographic change. We hope you will join us for that discussion as well.
As we all know, SIDS face unique economic challenges stemming from geographical isolation, narrow resource bases, vulnerability to external shocks, and exposure to environmental threats exacerbated by climate change. The current volatile international environment is an added burden.
Despite their rich cultural heritages and natural assets, many island economies struggle with high costs for energy, infrastructure, and transportation. They also contend with limited export diversification and reliance on a few key industries, especially tourism.
These structural constraints can make achieving sustained, inclusive economic growth an uphill battle.
Overcoming them through strategic policy interventions will be critical for building resilient island economies.
Voices from SIDS have been loud and clear on the need to increase financing for their sustainable development, including climate finance.
Indeed, financing for SIDS remains well below the levels needed for them to achieve the SDGs.
UN DESA is committed to providing detailed analysis and policy insight on these issues. The team in our Economic Analysis and Policy Division leads this work, managed by my colleague Shantanu Mukherjee who is joining me today.
Looking into the next ten years, we need to craft smart, context-specific, and inclusive social and economic strategies for SIDS. They must be in line with the new ¡°Antigua and Barbuda Agenda for SIDS (ABAS), which this Conference will adopt later this week.
Economic diversification, attracting investment, developing renewable energy sources, leveraging the blue economy sustainably, boosting trade competitiveness, and creating decent jobs - especially for SIDS' large youth populations ¨C are just some of the tasks in front of us.
Innovative financing models, regional cooperation frameworks, and emerging technologies, if they are harnessed effectively, can open new economic frontiers and build prosperity for islanders.
I want to encourage you here and online to actively participate by sharing your perspectives and asking questions. Together, we can explore avenues for the economic and social progress of SIDS.