(MENAFN - Kuwait News Agency (KUNA)) A number of civil society organizations participating in the UN Conference on Trade and Development (UNCTAD XIII) urged industrial and developing countries Tuesday to conduct a comprehensive dialogue contributing to reform of global economy which is suffering from crises of poor organization.
In a press release on sidelines of UNCTAD XIII, the organizations said that such a dialogue would prevent any economic or financial malfunction, enhance growth and meet the needs of member states, particularly the developing countries.
The civil society organizations urged the industrial countries to acknowledge the presence of the economic crisis and to contribute to finding solutions to prevent its recurrence.
They urged UNCTAD to enhance its role through preferential trade agreements and to continue to boost the financial and developmental capabilities of the developing countries.
Expanding the mandate of UNCTAD would help developing countries use investments for development instead of seeking only to increase the flow of foreign direct investment, they said.
The industrial and agricultural policies are key to development, especially as regards employment and comprehensive development, they added.
Meanwhile, UNCTAD XIII Innovation and Technology Day (ITD) was held.
UNCTAD Secretary-General Dr. Supachai Panitchpakdi said that the forum's target was to allow discussion between policy makers and scientists to discuss the role of technological innovation in achieving development.
He added that the event arrived at just the right time as the international community would be looking for innovative solutions to help developing countries rid the impacts of the global economic crisis that hit the world in 2008.
He stressed that innovative technology was directly related to sustainable development, as innovative technology that could increase production were imperative to sustaining development.
He said that there was still a "gap" between rich and poor countries, in terms of their ability to adapt to and use technology to achieve development.
Part of the problem was that developing countries faced difficulties in attracting investment, Panitchpakdi said.
He said that successful innovation relied on an open and cooperative environment that allowed for sharing experiences in all fields, including scientific research.
He also stressed on the importance of having the right political framework to allow the pursuing of foreign investment, and successful innovation by extension.
ITD is a joint initiative of UNCTAD and Qatar Foundation that will use the expertise of technology pioneers, entrepreneurs, policy makers to unlock human potential and foster sustainable development.