UN General Assembly
2005

At the second South-South Summit, held in Qatar in June, we agreed on a major programme of South/South cooperation that is already having results. I shall cite just two examples. First, the Governments of Qatar, China and India pledged donations at the Summit to launch a South fund for development and humanitarian assistance. Secondly, last week at Montego Bay, Jamaica, the President of the Bolivarian Republic of Venezuela signed, with several Caribbean Governments, the Petrocaribe Energy Cooperation Agreement to enhance energy security, facilitate socio- economic development and advance regional economic integration in the Caribbean. This is a most positive initiative at a time of high and volatile energy prices and insecure supplies. From our partners in the developed world there has been a gradual recovery of private foreign direct investment and in the provision of official development assistance (ODA). We welcome the increase in debt relief, including debt cancellation, for many of the most highly indebted poor countries, as well as the renewed focus on Africa and on HIV/AIDS. However, the review has also revealed some