The 14th session of the United Nations Conference on Trade and Development (UNCTAD) concluded with excitement and applause as negotiators struck an agreement coined Maafikiano, the Nairobi Consensus.
This ended five days of discussions including two crucial nights during which the negotiators also set UNCTAD's work programme for the next four years. This also settled earlier fears that developed nations were out to shortchange their African counterparts.
A final statement from the UNCTAD shows an agreement was reached on Friday morning after two nights of intense negotiations. "I'm delighted that our 194 member states have been able to reach this consensus, giving a central role to UNCTAD in delivering the sustainable development goals," said UNCTAD Secretary-General, Mukhisa Kituyi.
"With this document, we can get on with the business of cutting edge analysis, building political consensus, and providing the necessary technical assistance that will make globalisation and trade work for billions of people in the global South," he said.
Foreign Affairs Cabinet secretary Amina Mohamed, who was the president of UNCTAD14, expressed delight following the consensus. "As the president of this conference, I cannot begin to tell you how I feel right now," she told the negotiators, adding that it was a good day for Kenya, UNCTAD, and a big win for multilateralism.
The political declaration dubbed Azimio represents a broad expression of the social and economic state of the world. Opened July 17 by UN Secretary-General Ban Ki-moon in the presence of President Uhuru Kenyatta, the conference attracted more than 5,000 delegates from 149 countries.
It saw concrete progress including the launch of a new e-trade initiative, the first UN statistical report on the Sustainable Development Goals (SDGs) indicators, the launch of a multi-donor trust fund on trade and productive capacity, and the commitment of more than 90 countries for a roadmap on fisheries subsidies.
A fashion show, highlighting the creative and commercial potential of Kenya's fashion industry was also staged during the conference. The conference took place against the background of a gloomy outlook for the world economy. In the global North, many people have grown skeptical about the benefits of globalisation, while poverty and inequality remain pervasive in the South.
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