Commemorating 60 years of impact: UN Trade and Development (UNCTAD) convenes world leaders to shape a vision for inclusive prosperity in a complex global landscape.
The 60th anniversary of the UN Trade and Development (UNCTAD), set to take place at the Global Leaders Forum with the theme ‘Charting a New Development Course in a Changing World’ from June 12-14 at Palais des Nations, Geneva, aligns with escalating crises like global trade disruptions, growing debt burdens, and climate change, which disproportionately impact developing nations.
UNCTAD Secretary-General Rebeca Grynspan viewed this milestone as an opportunity to reflect on past learnings and collectively envision a new path towards a shared future.
It represents ‘an opportunity to reflect on the lessons learned over the past six decades and forge a new path forward, with a shared vision for the future,’ she said.
Exploring new strategies for development, the Global Leaders Forum would focus on integrated treatment of trade and development, and the interrelated issues of finance, technology, investment and sustainable development, said an UNCTAD press release issued on Tuesday.
It said that the Secretary-General Grynspan would be joined by UN Secretary-General António Guterres, and the president of the 78th session of the UN General Assembly, Dennis Francis.
The forum will also feature six heads of state and government and 28 government ministers of Trade and Foreign Affairs from all world regions. Additionally, civil society representatives, leading economists, and international organizations will participate, the release read.
Forward together with new development thinking
The forum aims to inspire fresh perspectives on development thinking to address the complexities of ‘polyglobalization’, characterized by growing economic diversity and decentralization, amidst the rising interdependence of countries on a global scale.
Discussions will prioritize the needs of developing nations, with a particular emphasis on least developed countries, small island developing states and landlocked developing countries.
These discussions will focus on critical trade and development concerns, including effective industrial policy implementation, crafting a sustainable digital future, readiness for tomorrow’s economies, restructuring foreign direct investment and global value chains for development, and navigating globalization amidst shifting global dynamics.
Six decades of action and change
For six decades, UN Trade and Development has stood as a staunch advocate for developing countries, providing crucial support through cutting-edge research and analysis, technical cooperation, and consensus-building.
Ahead of its 60th anniversary, the organization rebranded to “UN Trade and Development (UNCTAD)”, underscoring its transformative approach and commitment to amplifying the voice of developing economies in global trade, economic and development policy dialogues.
A new development course
Established in 1964, UNCTAD was founded with the aim of ensuring the inclusivity of globalization. Upholding this mission in the present day demands a significant shift in perspective.
Over the past six decades, the global economy has witnessed the rise of the Global South, the emergence of a vast digital economy and remarkable strides in reducing global poverty and hunger.
However, simultaneous with these advancements, there has been a disturbing rise in inequalities within and among countries, a heightened frequency of economic fluctuations in trade and finance, and a mounting threat of climate change, particularly affecting those nations least responsible for its onset.
The structures of global economic governance have lagged behind these shifts, leading to a contradiction at the heart of globalization.
‘As we adapt to changing times, charting a new development course provides a framework for building a future that is resilient, equitable and sustainable,’ Grynspan said.