Foreign Minister participates in the 45th Annual Ministerial Meeting of the Group of 77 (G-77); Pakistan elected as the next Chair of the Group

The 45th ministerial meeting of the Group of 77 and China was held today in virtual format, in which Pakistan was elected as the next chairman of the group.

Foreign Minister Makhdoom Shah Mehmood Qureshi addressed the meeting and thanked the 134 members of the G-77 and China for reposing their faith in Pakistan to lead the grouping in 2022.

The External Affairs Minister highlighted that the world is facing a triple crisis: the COVID pandemic and its consequences; the challenge of realizing the United Nations Agenda 2030 for Sustainable Development; and the existential threat of climate catastrophe – which has had adverse effects on developing countries.

The External Affairs Minister said that inclusive and equitable recovery from the current crisis would be possible only when adequate means, especially financial resources, are made available to developing countries to return to the path of sustainable and sustainable economic growth.

The External Affairs Minister emphasized that developing countries need to promote a “Common Development Agenda” to achieve the United Nations Sustainable Development Goals (SDGs) by 2030. He underlined that, as the next chairman of the Group of 77 and China, Pakistan would work together. Group members to promote such a development agenda, including: debt restructuring; redistribution of new SDRs worth $650 billion to developing countries; large discounted financing; To raise $100 billion in annual climate finance by developed countries; Ending the illegal financial flows of billions from developing countries and the return of their stolen assets; and the creation of an equitable and open trade system and a fair international tax regime.

The Group of 77, established in 1964, is the largest intergovernmental grouping of developing countries in the United Nations. It provides the means for countries of the global south to articulate and promote their collective economic interests within the United Nations system. Pakistan is a founding member of the group and has the privilege of serving as its chairman in New York on three occasions in the past.

Islamabad
30 November 2021

599/2021

Last modified: November 30, 2021