FM Shah Mahmood Qureshi delivered a video message during the ministerial session of the Group of 77 (G-77) on the eve of 15th quadrennial session United Nations Conference on Trade and Development (UNCTAD) that is held in an online form by Barbados.
The Pakistani perspective was shared on present global challenges facing development Foreign Minister Shah stressed the importance of the need for vaccine equity and debt reduction and a re-enforced concessional financing to tackle the issue of inequalities across all sectors.
In terms of systemic approaches FM Qureshi called for reforms to the international tax and financial structure, a more equitable multilateral trading system, and the need to recover and the confiscated assets back to countries in need.
In a tribute to the support and solidarity that characterized the G-77’s ethos Shah Mahmood Qureshi offered praise to the group for defending and advancing the legitimate trade, development and investment rights of emerging countries.
The foreign minister recognized the pivotal role played by UNCTAD in the field of producing top-quality analytical reports offering technical and policy advice for developing countries, enabling them to benefit from the benefits of international trade in the areas of financial, investment and taxation systems.
UNCTAD as well as the Group of 77 were established in 1964 to safeguard and advance the interests of development in those in the Global South. Pakistan has been a active participant in both groups and has contributed valuable inputs to their discussions, policies and results.