The Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), Rebeca Grynspan, led a hybrid press conference on Monday at the Palais des Nations in Geneva, where she presented the main axes and expectations of the 16th UNCTAD Conference, which will be held from 20 to October 24.
“We only have one week left until UNCTAD 16,” Grynspan said as she opened her remarks, thanking the Swiss government for hosting the event and “demonstrating its commitment to multilateralism.” The Secretary-General emphasized that holding the conference again in Geneva, “where UNCTAD was founded 61 years ago,” reinforces the city's role as a global center for trade, politics, and international dialogue.
The conference will bring together more than 100 countries, including around 60 ministers and 40 deputy ministers, in addition to 1.700 already registered participants. For four days, member states will discuss the main challenges facing trade and development in a global context of economic fragmentation, geopolitical tensions, and debt crises.
“We're seeing a shift in the rules of international trade, and that's a reality. For example, the United States had average tariffs of 2,8%, and today they're close to 20%. This alone changes international trade because the United States is such an important element of it,” said Grynspan, who is also a renowned economist.What we are seeing is a change in the rules” and “definitely an increase in protectionism”, The Secretary-General said, warning that trade tensions and unilateral measures could exacerbate global uncertainty and limit opportunities for developing countries.
Trade, finance, investment and technology: the four pillars of development
Under the motto “Shaping the future by driving economic transformation for equitable, inclusive and sustainable development"UNCTAD 16 will comprehensively address the major challenges facing the multilateral system. "The areas of trade, finance, investment, and technology are not separate topics," Grynspan emphasized, "but rather interconnected pillars that underpin the development of the developing world."
Grynspan warned of the heavy burden faced by many developing countries: “3,4 million people live in countries that spend more on debt service than on health and education. Many of these countries spend more than 10% of their income solely on debt repayments, limiting their ability to invest in infrastructure and services essential for sustainable growth.".
In this context, the Secretary-General highlighted the need for a fairer, more predictable, and more accessible global financial system. "Last July's conference on financing for development urged development banks to increase their support to developing countries. It also proposed the creation of a 'borrowers' club' to strengthen their debt negotiation and management capacity," she added.
The UNCTAD 16 agenda includes seven ministerial roundtables, as well as 24 thematic sessions on affordable finance, credit rating, sustainable debt, productive investment, regional trade, and the impact of artificial intelligence on the digital economy.
Grynspan also warned about the decline in foreign direct investment in developing countries and the concentration of global capital flows in traditional sectors: "Our goal is to attract investment to the real economy, to sustainable infrastructure, green energy, health, education, water, sanitation, and agriculture. It's not just about capital, but about building capacity and bringing technology that generates long-term value."
Technological transformation and digital equity
The Secretary-General emphasized that the digital revolution and artificial intelligence are transforming global societies and economies. “Digital trade and data flows account for more than 60% of global GDP growth. Yet seven companies control more than 80% of investment in cloud infrastructure and generative AI, which can concentrate opportunities but also has the potential to be a source of inclusion,” she said.
Therefore, UNCTAD will work on data governance, digital competence and capacity building policies so that all countries can participate and benefit from this technological revolution.
More about UNCTAD 16
- Those interested can consult more program details (sessions, schedules, documents) on the event's official website at https://unctad.org/unctad16/programme
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