Mr. Chairman,

1. I have the honour to deliver this statement on behalf of the Group of 77 and China.

2. At the outset, the Group of 77 and China would like to thank the Secretariat for the preparation and presentation of the documents for our consideration under the Agenda Item 22 (a) and (b).

Mr. Chairman,

3. For least developed countries (LDCs), the Istanbul Program of Action (IPoA), adopted by the Fourth UN Conference for LDCs, is an expression by the international community to support the LDCs' efforts toward achieving poverty eradication in all its forms and dimensions, structural transformation and sustainable development. Despite some progress made over half of the decade in the implementation of the IPoA, the Group note with grave concern that most LDCs continue to face pervasive poverty, serious structural impediments to growth, low levels of human development and high exposure to shocks and disasters.

4. The Group, in this regard, welcome the political declaration of the Comprehensive High-level Midterm Review of the IPoA for the LDCs, held in Turkey in May 2016, to further strengthen the global partnership for development for the LDCs in all priority areas and ensure the timely, effective and full implementation of the IPoA during the remainder of the decade in line with the 2030 Agenda, the Addis Ababa Action Agenda, the Sendai Framework and the Paris Agreement.

Mr. Chairman,

5. Please allow me to reiterate some important issues as we embark on this important task to strengthen support for the LDCs during the rest of this decade.

6. First, the Group emphasize that international cooperation is crucial for ensuring effective development and the eventual objective of graduation of LDCs, especially with respect to the fulfillment of agreed commitments such as the provision of ODA to the LDCs and the timely implementation of duty-free and quota free market access, on a lasting basis for all LDCs. Concerted efforts are also required to reverse the decline in the mobilisation of resources for the Aid for Trade Initiative.

7. Second, we would like to reaffirm that foreign direct investment is an important enabler for the LDCs to build strong economic base. Unfortunately, less than 2 per cent of the global FDIs have been directed to LDCs. And yet this low level of investment is mostly focused on extractive sector. In this regard, we call upon relevant stakeholders to consider enhancing relevant investments in LDCs that will result in structural transformation, productive employment generation, and equitable and sustainable growth.

8. Third, the Group reaffirm that any unilateral economic measures imposed on the LDCs must be lifted and totally eliminated. Such measures clearly have negative impacts on the development and prosperity of those countries and adversely impact the efforts towards their graduation.

9. Fourth, while reiterating our appreciation to the Government of Turkey for hosting the Technology Bank for LDCs, the Group call upon all other development partners to extend their full support to the LDCs in ensuring the meaningful functioning of the Technology Bank by 2017.

Mr. Chairman,

10. The Group reiterate its recognition of the special needs and challenges faced by the landlocked developing countries (LLDCs) caused by their lack of territorial access to the sea, aggravated by remoteness from world markets and high transit costs and risks, which continues to impose serious constraints on export earnings, private capital inflow and domestic resource mobilisation.

11. In order to meet with the priority needs and drive the socio-economic progress of the LLDCs, mainstreaming of the Vienna Programme of Action for LLDCs into the national development strategy is required. Hence, we would like to call upon the development partners, transit countries and international organisations to mainstream the VPoA in line with 2030 Agenda and the Addis Ababa Action Agenda for the effective implementation of those in an integrated and coherent manner as well as establish special facilities for the LLDCs, as appropriate.

12. The Group reaffirm that infrastructure development plays a key role in reducing the cost of development of the LLDCs. Therefore, we welcome the launch of the Global Infrastructure Forum in April 2016, which is an important follow-up to the Addis Ababa Action Agenda for the LLDCs, aiming to enhance coordination among multilateral development banks and their development partners to better develop sustainable, accessible and resilient infrastructure for developing countries, including the LLDCs.

Mr. Chairman,

13. LDCs and LLDCs are frequently affected by climate change, health crises, natural calamities, price fluctuations of commodities, and external financial shocks. We underscore the need for the international community to enhance development assistance to LDCs and LLDCs to help them overcome their vulnerabilities, build resilience and set themselves on a path of sustainable social and economic development.

14. The Group of 77 and China look forward to working closely and constructively with our development partners during the deliberation and negotiation of the resolutions under this agenda item. We hope that it will result in enhanced support to LDCs and LLDCs in their efforts to implement their respective Programme of Action and the 2030 Agenda in order to make their development gains sustainable, inclusive and meaningful.

I thank you.