| (Full version) “Mr. President, Allow me first of all to warmly congratulate you upon your election as President of the Conference on the World Financial and Economic Crisis and Its Impact on Development. In fulfilling your challenging task, you may be assured of the support from and cooperation of the Hungarian delegation. Your Excellencies, Distinguished Guests, Ladies and Gentlemen, I have the honour and privilege to speak on behalf of the Hungarian Government. Hungary welcomes this high level event as an opportunity to find proper, efficient and sustainable responses for the complex challenge the international community is facing amidst the global financial and economic crisis. We are aware that the current crisis has seriously hit the developing world, which will inevitably harden the challenge of meeting the Millennium Development Goals by 2015. The responsibility and the role of the donor community are to help countries in need to safeguard their development results they achieved during the last decade and to support the recovery process. The principles of aid effectiveness reinforced in the Accra Agenda for Action and division of labour initiated by the European Union have crucial importance in order to use capacities and resources in the most efficient way. Hungary has gained valuable experience during the implementation of our donor programmes in Afghanistan, in Vietnam as well as in the middle income countries in our vicinity and we are ready to share them with the international community. We all have a joint responsibility in addressing the current situation. Developed countries have to live up to the promises made at the Doha Financing for Development Conference last year. On the other hand partner countries should continue implementing their national development strategies by strong ownership, improved governance and also by increased efforts in mobilizing domestic resources. We believe that the appropriate and most efficient way to respond to the crisis is by utilizing existing institutions and mechanisms. This should go together with the strengthening of these institutions as necessary Hungary has been allocating most of its official development assistance by using the channels of international development organizations and financial institutions. This fact makes us strongly committed to increase the efficiency and cooperation of these institutions and their mechanisms. We are also interested to be a reliable partner in their reform if necessary. The financial crisis made the systemic weaknesses of the global financial market and its regulation clear. Hungary considers this problem as a considerable factor inducing such a severe global situation. We are convinced that a significantly improved system of financial market regulation and surveillance should arise from the crisis. Restoring high-level economic growth in developing countries will be in any case the most powerful tool in combating the effects of the global crisis. Efforts to support private sector development and the establishment of an investment friendly business environment shall remain a top priority for governments. This should be accompanied by the better inclusion of developing countries into global trade, including facilitating sub-regional development and south-south trade. Donor countries and international organizations should be ready to provide the necessary training and capacity building. Ladies and Gentlemen! It is of utmost importance that in the aftermath of the global financial and economic crisis there will be a broad analysis of the lesson learned. The assessment should focus on identifying actions and institutions which increase the potential of a country to react promptly and properly to the crisis. These lessons should be then included in the countries’ individual reform processes. Hungary attaches great importance to the role that the United Nations and its institutions should play in coordinating these efforts. Mr. President, Excellencies, On behalf of Hungary, also as a member of the European Union, I would like to reiterate our commitment to be an active partner in addressing the core challenges of the international development cooperation and working towards the implementation of the objectives of the Millennium Declaration. In conclusion, Mr. President, I would like to assure you that Hungary is strongly committed to facilitate the positive outcome of this Conference. Thank you.” (June 26, 2009)
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