7 Oct 2021
On 1 October 2021, H.E. Mr. Vijavat Isarabhakdi, Vice Minister for Foreign Affairs of Thailand delivered a statement on behalf of the Deputy Prime Minister and Minister of Foreign Affairs during the General Debate of the Ministerial Meeting of the Group of 77 (G77) and China on the occasion of the Fifteenth Session of the United Nations Conference on Trade and Development (UNCTAD XV) via video conference.
The Vice Minister for Foreign Affairs underlined the importance of partnerships among developing countries in transforming a global trade and development system with the Bio-Circular-Green Economy Model (BCG Model) for sustainable and balanced recovery from COVID-19 pandemic and shared three approaches on how to achieve this goal. First, to promote South-South Cooperation to exchange best practices on home-grown sustainable development approach that fits well in each local context. Second, to advance stronger North-South Cooperation to provide developed countries with more financial and technical support in low-carbon technology localisation. Third, to revitalise the global economic governance to address the special conditions of developing countries and bridge the widening rift from the transition to a green economy.
The Meeting also adopted the Bridgetown Ministerial Declaration of the G77 and China to UNCTAD XV to reflect the Group’s commitment to jointly shape the future direction of UNCTAD and the outcome document of UNCTAD XV (Bridgetown Covenant) which will provide a framework for action to address inequality, reduce vulnerability and ensure lasting prosperity for all in the context of COVID-19.
The G77 currently comprises 134 developing countries, making up the largest negotiating bloc in the United Nations. The Group aims to increase the negotiating power of developing countries within the United Nations System and promote South-South cooperation. Thailand was the Chair of G77 and China in 2016.