In order to become the “true trustees” of the rich natural wealth for future generations, the nature must be respected and the structural transformation needed to build a stronger, more sustainable and resilient economy must be promoted, says Minister of Foreign Affairs Abdulla Shahid.
He made these remarks while delivering a message at the General Debate on the theme study on building back better from crises through regional cooperation in Asia and the Pacific, at the 77th Commission session of UN Economic and Social Commission for Asia and the Pacific (ESCAP) on Tuesday.
As such, acknowledging the “useful” recommendations presented in the report by ESCAP regarding challenges facing in building back better from the ongoing Covid-19 pandemic, FM Shahid shed light on the impacts of the pandemic on Maldives.
The year 2020 was unlike any other the Maldives has experienced, the economy of the country largely based on tourism came to a grinding halt due to Covid-19. The repercussions were felt in all related sectors of the economy. Timely organized and effective measures by President Ibrahim Mohamed Solih’s govt helped soften the severity of the social crisis caused by the pandemic.”Abdulla Shahid, Foreign Minister
Highlighting that the pandemic brought the gaps in Maldives’ education and health sectors under the spotlight, FM Shahid noted that meeting priority needs is a challenge without structural changes to the country’s economy.
Stressing that the Maldives’ heavy dependence on a single sector -tourism- makes the country’s economy vulnerable to external shocks.
Further the minister went on to note that the tourism industry is the source of foreign currency to the Maldives, adding that the economy’s diversification is crucial to build resilience and build back better.
As we all move from the relief to the recovery stage, we echo the recommendations proposed by the commission including the need for regional cooperation. It is crucial to align the recovery initiatives with the 2030 agenda which must be the overarching framework for development as we build back better, the govt of Maldives is focused on emphasizing greener and resilient development initiatives. Gaps in our health education and other social sectors highlighted by the pandemic must be plunged. In the new normal, we must respect nature, emphasize low carbon emissions and promote the structural transformation needed to build a strong more sustainable and resilient economy, only then can we become the true trustees of the rich natural wealth for future generations.“Abdulla Shahid, Foreign Minister
The 77th session of the ESCAP revolved around the theme, “Building back better from crises through regional cooperation in Asia and the Pacific.” UN-ESCAP is one of the five regional commissions under the jurisdiction of the United Nations Economic and Social Council.
