Abu Dhabi, United Arab Emirates : European Cooperation Takes part in the work of the 8th World Investment Forum.

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Our organization had the honor of being invited to the 8th World Investment Forum, organized by the UNCTAD, held from October 16 to 20, 2023, in Abu Dhabi, United Arab Emirates. Mr. Gabriel saint, President of the European Cooperation System, was keen to participate in these high-level discussions that focused on the investment challenges faced by developing countries worldwide in the context of current global crises.

The opening ceremony was distinguished by the presence of the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Secretary-General of UNCTAD, Rebeca Grynspan, the Vice-Governor of Dubai, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the President of Timor-Leste, José Ramos-Horta, a Nobel laureate, and the President of Togo, Faure Essozimna GNASSINGBE. President Gabriel saint wishes to express his gratitude to Mrs. Rebeca Grynspan, Secretary-General of UNCTAD, for the high regard that the United Nations Conference on Trade and Development has for the work of the European Cooperation System.

At this international forum, world leaders addressed the financing deficit. In an opening statement, the United Nations Secretary-General, António Guterres, urged participants, including heads of state, business leaders, sustainable funds, sovereign funds, and experts, to implement the Sustainable Development Goals (SDGs) recovery plan and work towards an annual investment of $500 billion for developing countries. He also called on governments to establish a fair carbon price and for businesses to implement credible carbon neutrality plans, in line with the recommendations of the High-Level Expert Group on the commitments of non-state entities to net-zero emissions.

Under the theme « Investing in Sustainable Development, » the forum aligns strategically with the upcoming global climate change negotiations at COP28. A dedicated section within the forum will focus on promoting climate financing and investment, providing a crucial platform for policymakers to find solutions and support global climate negotiations.

The Global Leaders Summit examined the $4 trillion investment deficit in achieving the SDGs, as only 15% of the SDGs are on track to be achieved by 2030. The investment deficit in developing countries has risen from $2.5 trillion per year in 2015 to $4 trillion today. (Source: UNCTAD)

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