Leaders
set four-year roadmap for inclusive, sustainable economic transformation
The 16th United Nations Conference on Trade
and Development (UNCTAD16) opened in Geneva on 20 October,
bringing together ministers, policymakers, business leaders, and civil society
to chart the organization’s four-year
mandate under the theme “Shaping the future: Driving economic
transformation for equitable, inclusive and sustainable development.”
Over 40 high-level sessions and ministerial
roundtables will address challenges in trade, investment, debt, finance, and
digital economy resilience, as countries grapple with slowing
global growth, mounting debt burdens, and rising protectionism.
In her opening remarks,
UNCTAD Secretary-General
Rebeca Grynspan from Costa Rica warned that uncertainty and
falling investment weigh heavily on the poorest nations but emphasized
opportunities in clean
technologies, AI, and new trade patterns. “We’ve come here to
shape the future together so that trade, investment, and technology work for
people,” she said.
UN
Secretary-General António Guterres
will address the conference on 22
October, while Federal
Councillor Guy Parmelin of Switzerland
was elected conference president. Leaders from Timor-Leste, Viet Nam, and Barbados called
for renewed multilateralism, fairer global finance, and digital inclusion to
achieve sustainable development.
UNCTAD16, viewed as a mandate-setting moment for global trade
and development policy, underscores the urgent need to rebuild
trust in multilateral cooperation and ensure that globalization works for all.
Global forum sets four-year mandate
as leaders chart paths to resilient, inclusive growth.
The 16th United Nations Conference on Trade and Development
(UNCTAD16) opens today in Geneva under the theme “Shaping the future: Driving economic transformation
for equitable, inclusive and sustainable development.”
The four-day conference (20-23 October) convenes ministers of
trade and economy, leaders of international organizations, representatives of civil
society, private sector, youth and renowned experts to engage in high-level dialogue
on global trends and policy perspectives on trade, finance and debt, investment,
development and the digital economy.
The quadrennial conference is UNCTAD’s highest decision-making
body, bringing together 195
Member States to assess pressing trade and development issues, weigh
policy options and craft multilateral responses.
Across more
than 40 high-level
sessions, ministerial roundtables and events, delegates will focus
on practical routes to resilient supply chains, fairer finance, productive investment
and an inclusive digital economy.
Discussions will examine how countries can navigate today’s
uncertainties while laying foundations for sustainable growth that benefits everyone,
everywhere.
UN Secretary-General António
Guterres will address UNCTAD16 on 22 October.
Federal Councillor Guy Parmelin
of Switzerland said: “Let’s remain faithful to tradition of international
Geneva and find consensus by looking at the diverse points of view and ensuring
that we stimulate the economy with a view to achieving fair, inclusive and lasting
development.”
In her opening address, UNCTAD Secretary-General Rebeca Grynspan
warned that uncertainty, debt and falling investment are weighing heavily on the
world’s poorest countries.
Yet Ms Grynspan highlighted that major shifts – from new trade
patterns and resilient services to clean technologies and artificial intelligence
– offer a chance to reshape the global economy for greater inclusion and resilience.
She stressed that the key question is not whether change will
happen, but who will steer it and for whose benefit.
“We’ve
come here to shape the future, together, so that trade, investment and technology
work for people, not the other way around,” Ms Grynspan said.
The world is at a crossroads that calls for a fundamental shift
in development mindset, global leaders say in their remarks to the UNCTAD16 opening
ceremony.
President José Ramos-Horta of Timor Leste, speaking
via video message, called for a renewed commitment to rebalance the rules of global
commerce, decisive action on debt, bridge the digital divide and ensure climate
justice is reflected in trade and investment, especially for least developed countries.
Prime Minister Phạm Minh Chính of Viet Nam, in his video message,
called for bold and effective reforms to the multilateral trading and financial
systems, while reaffirming his country’s support for the UN’s central role in tackling
“global and people-centred issues” linked to sustainable development.
Prime Minister Mia Amor Mottley of Barbados, in a pre-recorded
message, praised the “transformative response” of UNCTAD in carrying out the Bridgetown
Covenant adopted at the organization’s 15th quadrennial conference held in Barbados.
“We must empower UNCTAD to be that space, where new global consensus
on links between trade and development are forged for the prosperity of all,” said
the prime minister.
UNCTAD16 takes place amid wide-ranging reform efforts aimed
at making the United Nations and the multilateral system better adapted to pressing
challenges now and into the future.
“Progress in trade and development is critical to that renewal,
said Annalena Baerbock, President
of the UN General Assembly.
The president urged countries to ensure that trade uplifts rather
than divides, empowers rather than excludes: “Because a more equitable global economy
is essential to demonstrating that multilateralism still works for all.”
The momentum is ramping up, said Director-General Tatiana Valovaya of the UN Office at Geneva, encouraging
participants to seize it with “clarity, courage and collective resolve”.
“This (UNCTAD16) conference may serve as a space for bold ideas,
innovative partnerships and renewed determination to build resilient, sustainable
and inclusive future for all,” Ms Volovaya concluded.