DUSHANBE, November 26, 2008, Asia-Plus — President Emomali Rahmon will attend the Follow-up International Conference on Financing for Development to Review the Implementation of the Monterey Consensus that will be held in Doha, Qatar from November 29 to December 2 2008, Economic Development and Trade Minister Ghulomjon Bobozoda remarked at the 8th session of the EU-Tajikistan Joint Committee in Dushanbe on November 25.
According to presidential press service, Emomali Rahmon will visit Qatar to attend the conference after his official visit to Iran scheduled for November 26-28.
In the meantime, according to the UN News Center, General Assembly resolution 62/187 mandates the Follow-up International Conference on Financing for Development to “assess progress made, reaffirm goals and commitments, share best practices and lessons learned and identify obstacles and constraints encountered, actions and initiatives to overcome them and important measures for further implementation, as well as new challenges and emerging issues.”
The Monterrey Consensus was the outcome of the 2002 Monterey Conference, the UN International Conference on Financing for Development. It was adopted by Heads of State and Government on March 22, 2002. Over fifty Heads of State and two hundred Ministers of Finance, Foreign Affairs, Development and Trade participated in the event. Governments were joined by the Heads of the United Nations, the International Monetary Fund (IMF), the World bank and the World Trade Organization (WTO), prominent business and civil society leaders and other stakeholders. New development aid commitments from the United States and the European Union and other countries were made at the conference. Countries also reached agreements on other issues, including debt relief, fighting corruption, and policy coherence.
Since its adoption the Monterrey Consensus has become the major reference point for international development cooperation.
The document embraces six areas of Financing for Development: mobilizing domestic financial resources for development; mobilizing international resources for development — foreign direct investment and other private flows; international Trade as an engine for development; increasing international financial and technical cooperation for development; external debt; and addressing systemic issues — enhancing the coherence and consistency of the international monetary, financial and trading systems in support of development.
