Prime Minister, the Most Hon. Portia Simpson Miller, is calling for greater support for Small Island Developing States (SIDS), such as Jamaica, to build resilience to economic and environmental shocks.
"Many nations like Jamaica have great possibility and potential that are not reflected in, or reflective of its present economic indicators," she said, while addressing the 67th Session of the United Nations General Assembly, in New York, today (September 27).
Mrs. Simpson Miller noted that many small states face common challenges, pointing out that several are highly indebted and extremely vulnerable to external shocks and natural disasters, and several face significant obstacles in their efforts to spur economic recovery and growth.
"We are hampered by the volatility of energy and food prices, decreases in export commodity prices, and weak capital inflows. Increasing food prices cause untold hardships for many of our people, particularly the most vulnerable in our societies," she emphasised.
The Prime Minister argued that reforms in global economic governance, including the international financial institutions, are required to take into account the need for special and differential treatment for small and vulnerable economies.
"Refocusing of the development agenda in terms of financial flows, will also go a long way in helping to bolster our natural resilience and resolve," she said.
In the meantime, Mrs. Simpson Miller commended the United Nations Conference on Trade and Development (UNCTAD) on the work which it has been doing over the last 48 years to advance the trade and development agenda and to assist developing countries.
"There is still much to be done and we look forward to working with the full range of development partners," the Prime Minister said.