China calls on UN to resolve global development imbalance


MASERU – Chinese President Xi Jinping has called on the United Nations to see that all countries make the global governance system more just and equitable. President Xi made the call at the opening ceremony of the 60th anniversary celebration of the United Nations Conference on Trade and Development (UNCTAD) in Geneva, Switzerland this week.

In the 60 years since UNCTAD’s creation, the world economy has seen the rise of the global south, the introduction of a vast digital economy and the largest reduction in poverty and hunger in human history.

UNCTAD was created with the explicit goal of ensuring that globalization left no one behind.

President Xi pointed out that over the past 60 years since its founding, in light of its mission to achieve prosperity for all, UNCTAD has vigorously advanced South-South cooperation, advocated North-South dialogue, promoted a new international economic order, and made important contributions to global trade and development.

In his speech delivered through a video, he stated that the world today is undergoing fast changes unseen in a century.

Peace and development is confronted with new challenges and the world must assume responsibilities for history and the people, keep to the right direction, and work together to build a community with a shared future for mankind.

“We need to foster an international environment for peaceful development. All countries, major ones in particular, should pursue true multilateralism, advocate an equal and orderly multipolar world, abide by the purposes and principles of the U.N. Charter, and support a more effective role of UNCTAD and other multilateral agencies.”

“We must follow the trend toward open development. We should advocate a universally beneficial and inclusive economic globalization, promote trade and investment liberalization and facilitation, properly resolve development imbalance and other issues, and make the global governance system more just and equitable,” Xi said.

He further stressed that this year marks the 75th anniversary of the People’s Republic of China. China is advancing Chinese modernization on all fronts through high-quality development, which provide new and greater opportunities for world development.

China actively seeks to import more from other developing countries, step up the cooperation in trade, investment and development, and help implement the 2030 Agenda for Sustainable Development.

UNCTAD celebrated its 60th anniversary with a Global Leaders Forum this week from 12 – 14 June.

It represents a seminal moment, an opportunity to reflect on the lessons learned over the past six decades and forge a new path for ward.

With the theme, “Charting a new development course in a changing world”, is a call to action to reimagine development in the age of polyglobalization, to adapt to changing times, the theme provides a framework for building a future that is resilient, equitable and sustainable.

The Forum brought together leaders from across the globe, representing a spectrum of nations and interests, all converging with a common purpose; to redefine the course of development in a world where prosperity for all remains central and fundamental.

It was opened by the UN Secretary-General Antonio Guterres and featured a two-day programme with high-level participation from heads of state, heads of institutions and leading economists and experts who engaged in debates on innovative approaches to addressing sustainable development challenges and enhancing UNCTAD’s role and impact.

In exploring new strategies for development, the Forum focused on UNCTAD’s integrated treatment of trade and development, and the interrelated issues of finance, technology, investment and sustainable development. It specifically addressed the needs of developing countries, particularly the least developed countries, small island developing states and landlocked developing countries.