UN Geneva - Multimedia Newsroom : UNCTAD 16 Opening Session

Secretary General Miss Rebecca Grinspan, Honourable Ministers, Excellencies, distinguished delegates, ladies and gentlemen, in accordance with Rule 16 of the Rules of the Conference and on behalf of the Honourable Mia Amour Motley, Prime Minister of Barbados and President of the 15th Session of UNTAD, I have the honour to declare open the 16th Session of the United Nations Conference on Trade and Development.

Before we proceed to the election of the President of the Conference, I have the honour to invite Prime Minister Motley to address the conference via a video message.

My dear friend Rebecca Greenspan, Secretary General of UNCTAD, Ministers, ambassadors, distinguished guests, it is truly an honour for Barbados, as the host of UNCTAD 15 and as the outgoing Chairperson of the Conference, to pass the baton to the Government of Switzerland for its hosting of UNCTAD 16.

It is only appropriate that during this.

When the multilateral system has been shaken that this conference takes place in one of the global hubs of partnership and multilateralism.

Ladies and gentlemen, it was four years ago that Barbados had the distinct honour of hosting UNCTAD 15 and becoming the first small island developing state to be entrusted with this responsibility.

I would like to place on record the Government of Barbados's gratitude to the Secretary General and indeed the entire UNCTAD staff for their outstanding leadership through the quadrennium.

It is easy to forget that not so long ago in Bridgetown, we all recognise that the world was at an Inflexion point.

We were confronted by the global pandemic, as well as overlapping global challenges that required a transformative response from Monktad and, by extension, the multilateral system to address structural inequalities and the vulnerabilities of member countries.

I recall the spirit of cooperation and solidarity, as well as the innovation employed during the negotiation process that was facilitated mostly online.

Yes, due to the global pandemic, the outcome of that process, the Bridgetown Covenant set out the main transformations that we felt were necessary at that time and which remain relevant today.

The Bridgetown Covenant has served not only as a mandate but also as a road map to guide Ungtad's transformation and response to the global challenges of the 21st century.

In that regard, I wish to commend the Secretary General and her team for making a genuine effort to put in place a series of actions to give effect to the wide range in mandates as set out in the Bridgetown Covenant.

I would like to especially thank the UNGTAD Secretariat for the focus attention paid to small island developing states which led to the development of a SIDS strategy and the establishment of a trust fund.

I do, however, regret that this trust fund has not been resourced.

I call on our partners to work with us to ensure that the SIDS Trust Fund can help small islands build their productive capacities and to grow through trade.

I would also like to take this opportunity to highlight the attention paid to the disruption of global supply chains, which was brought on initially by the pandemic but was exacerbated by the climate crisis and the conflicts that we are seeing throughout the world.

This resulted in the convening of the inaugural Global Supply Chain Forum, which we were proud to host here in Barbados.

We are pleased that this event will become a central event in Unctad's calendar.

Ladies and gentlemen, UNCTAD has delivered on many aspects of the Bridgetown Covenant, but there still remains much to be done.

Despite all of our efforts to reduce inequalities and vulnerabilities, we find ourselves living in an increasingly fractured and polarised world.

The achievement of the Sustainable Development Goals appears to be a fleeting illusion for some to be pursued but never attained.

If we are, to quote Bob Marley, our international system is experiencing tectonic shifts that, if not carefully navigated, could result in an unravelling of an international order.

Multilateralism, as we have known it is under threat.

The truth, my friends, is under threat.

Many of our shared human values, such as gender equality and the power of diversity, are under question.

the United Nations, which has been an imperfect but essential beacon of hope for 80 years, is also being shaken.

Now is not the time to retreat.

Now is the time to reinvent and reinvest in multilateralism.

Multipolarity without agreed rules and guard rails increases uncertainty and can only reduce prospects for sustainable economic growth and peace, or indeed for security.

Multipolarity is a concept to lean into, not to discard or to fear, and UNCTAD has a key role to play in this rebuilding.

The theme of UNCTAD 16, Shaping the Future Driving economic transformation for Equitable, inclusive and sustainable development is not just a conference tagline.

It has to be a goal.

And underlying this will be a need to address the breakdown of trust.

This trust deficit has undermined well established norms, values, principles, the rule of law and indeed our institutions.

Underlying this is truth.

An underlying truth is evidence and data which coincidentally UNTAD excels at providing.

We need to demystify AI while at the same time creating regulations that allow it to be used for good and not for discord.

We must recommit our efforts to addressing the climate crisis.

Denying its existence does not make it go away.

It does not eradicate the growing intensity of hurricanes or stymie the rising temperatures in the oceans.

It does not stop glaciers from melting or narrow the line of climate migrants.

The only action that will address the climate crisis is action.

UNGTAD has the tools in its toolbox, my friends, to help developing countries to confront what remains the biggest existential threat of our times.

I am heartened by how UNGTAD has embraced the Bridgetown Initiative and I hope that you will continue to be a partner as we aim for greater climate equity and justice and indeed greater fairness in the international financial system.

The multilateral trading system with the W2 Ato as at its core is under tremendous pressure, but they're withstanding it.

The ongoing reform discussion at the WTO is a positive first step.

The delivery last month of the agreement on fisheries subsidies is another positive outcome.

We will need UNTAD to continue to work closely with the WTO to strengthen our shared system that has lifted billions out of poverty, but which perhaps now needs to be better aligned with the issues of today, namely digitalization, the environment, services, investment and supply chain resilience.

60 years ago, my friends, UNKTAD significantly contributed to the participation of developing countries in the international trading system.

At this moment in history, UNKTAD is once again supremely positioned to contribute to shaping its future based on the institution's convenient power and strong research capabilities.

We must empower UNTAD to be that space where a new global consensus on links between trade and development are forged for the prosperity of all, and not simply for the success of a few.

I urge you to recall the raison death row of UNTAD and to embrace the spirit of cooperation and solidarity that we found four years ago to once again position UNCTAD to make a difference for the global community.

Yes, the challenges ahead are tough, but with the knowledge of history and with our desire to refrain from repeating humanity's mistakes, I do believe we can shape a system that is fair, transparent, and results based.

Our citizens must feel as though the multilateral system is working for all of humanity.

As I say often using the words of Jimmy Cliff, we can get it if we really want, but we must try, try and try.

We'll succeed at last.

All the very best to all of you, and I regret not being able to be there in person, but you'd know my heart is with you, just as my words have been today.

[Other language spoken]

Now I wish to congratulate Switzerland in hosting ONTAD 16.

I have every confidence that under Switzerland's leadership, the conference will be highly successful and lead us towards new creative solutions on issues related to trade and development.

In keeping with the importance of the work ahead of us, I wish to turn to item two of the provisional agenda of the Conference, the election of the President.

In accordance with Rule 17 of the Rules of Procedure, I have the honour to propose the election of the Honourable Guy Parmelin, Federal Councillor of Switzerland.

As President of the Conference.

Mr Parmelin is also the head of the Federal Department of Economic Affairs, Education and Research of the Swiss Federal Government.

With his extensive and rich experience, Mr Parmelin brings a broad perspective on trade and development, which are the fundamental elements of this Conference.

I now declare the Honourable Guy Parmelin elected by acclamation as the President of the Conference at it's 16th session.

I congratulate Mr Parmalan and invite him to his seat at the podium.

[Other language spoken]

Set Dameri Clatina de caribe nuff du Group BET du Group de de la Chin consultation avecli Group regional El Pesir de presente le corde de Srivan who post the this presido so next Anil Kumar Shina, Minister de Landustri du Commerce de la Provisiono de Nepal, so Nexelons.

[Other language spoken]

Monsieur Philippe Wadrumond Gough, Secretary Rosafir economic financier de Minister de Zafir de Trangier de Brazil, so Nexelons.

[Other language spoken]

So I compose the representative de meme Neff ETA quisomon the LA Commission the verification de pouvoir the LA sombre General ASA der nier cesion on that apre consultacion le Zeta suivon orte de designee como de committee the verification de pouvoir ondor Botswana Shin Republic, Dominican Lesotho Malaysi Federation de Rucie ET Trinity ET Tobago latil.

There's objection genois pad objection El en ET ASI de si de felicite de committee the verification de pouvoir de Paso sis the Lord dujour dujour proviso de la sezion de conference figured de document de the suggestion concerning organisation de travel de la conference figure de la nex a Lord dujour provisoir de la conference du adopte Lord dujour provisoir tell figure de documente de de subjection Geneva open Lord du jour ET ASI adopte permete MO encore de dir que como SU organisation de no travel lesions plenier serranco sacrea de reunion de univo.

[Other language spoken]

Excellency, Madam Rebecca Greenspan, dear friend.

Excellences, distinguished delegates, Ladies and gentlemen, we meet at a moment of deep uncertainty.

Our economies are still recovering from overlapping shocks, the COVID-19 pandemic, climate disasters, food and energy crisis.

At the same time, we see a tightening global trading and financial system that too often locks us out when we need it most.

For many of our countries, debt ServiceNow exceeds spending on health or education.

Climate loss and damage financing is being withdrawn.

Supply chains and the digital industry are argued over by wealthy countries.

As opposed to considering how both can be leveraged in support of sustainable development for the world's worst.

UMTAD was created with a mission in mind to ensure that global trade serves development, not the other way around.

We therefore call for a renewed commitment to rebalancing the rules of global commerce and the finance to give LDCs the policy space to build industries, create decent jobs and add value to our own resources.

Trade must empower production at home, not extract opportunity abroad.

Second, we must act decisively on debt and development finance.

We need fair and predictable mechanisms for debt relief and restructuring tied to progress on the Sustainable Development Goals.

In 2023, developing countries paid U.S.

dollar 406 billion, I repeat 406 billion on debt interest alone as interest rates climbed.

These are the same countries who most need to invest in their population and infrastructure.

Our countries should not be forced to choose between servicing all debts and investing in our people's future.

3rd, the digital divide must be bridge, not widened.

Technology transfer, Affordable connectivity and support for digital industrial policies are essential for LDCs to participate meaningfully in the 21st century economy.

4th We urge the climate justice to be reflected in trade and investment.

Climate finance must be accessible and predictable.

Green Trade Standard must open pathways, not closed markets.

[Other language spoken]

Some of our nations are prepared to graduate from LDC status.

We celebrate this progress, but we stress this must be a beginning, not an end.

The international trading system remains imperfect, insufficiently aligned to the needs of the majority who still require access to opportunities.

A common belief must be nourished that trade should be used for good, for security, for the betterment of all of humanity.

That idea is under threat and we cannot stand by without defending it.

[Other language spoken]

The.

[Other language spoken]

Your Excellency is Mia Motley, Prime Minister of Barbados.

Your Excellency Guy Pamelan, Federal Councillor of Switzerland, President of the Conference, Miss Tatiana Valuvaya, Director General of the United Nations Office at Geneva, Miss Rebecca Greenspan, Secretary General of UMTAD.

Excellencies, ladies and gentlemen, trade can be a powerful driver of sustainable development.

When guided by fairness, inclusion and equal terms, trade builds, bridges closest divides and improves lives around the world.

We have seen how trade can deliver results in Southeast Asia.

ASEAN's intra regional trade has helped the region recover from crises and build resilience, and together now ASEAN constitutes the 6th largest economy in the world.

In Africa, the African Continental Free Trade Area is creating the largest single market in the developing world, expected to raise intra African trade by 50% by 2035 and lift 10s of 1,000,000 out of extreme poverty.

This is the power of trade.

It eases barriers to services, widens the flow of goods and ideas, creates jobs, attracts investments and advances share technology.

And when trade is fair, developing countries are able to diversify and strengthen their economies, lifting the entire global economy with them.

But when trade and the global economy is seen to benefit only a few, it erodes trust in the multilateral system.

And today that trust is indeed eroding.

Our world is more interconnected and globalised than ever.

The global economy produces over $100 trillion a year, yet half of humanity has seen little or no rise in income for a generation.

Meanwhile, public debt in developing countries reached 31 trillion U.S.

[Other language spoken]

Instead of being able to invest in their people by building more schools or expanding healthcare facilities, many governments instead spending precious funds on servicing debt.

They then become trapped in a vicious cycle, unable to build their own economies to stand on their own.

Meanwhile, digital device threatened to transform into digital canyons as new breakthroughs technologies including artificial intelligence remain concentrated in the hands of a few.

These unfair practises of trade erode trust.

[Other language spoken]

That is why Unctard's role matters more than ever.

For over 60 years, it has upheld a simple but powerful idea that trade and development can go hand in hand, working for everyone.

It has reminded the world that prosperity built on inequality is unstable and that fairness is a foundation of cooperation.

This Ministerial conference must renew that purpose by focusing on issues such as diversification, sustainability, financing for development and multilateralism.

UNGAT can lead this revival of trust.

[Other language spoken]

It can attract investments that reaches communities.

It can close the technology gap that separates investors from those left behind.

And it can help make Deb a tool for development rather than a burden, linking sustainability and accountability to how nations borrow and invest.

This year holds particular meaning not only because of the United Nations 80th anniversary, but also because we mark the 1st anniversary of the Pact for the Future, a shared effort to regain the momentum and ambition needed to achieve the Sustainable Development Goals.

Delivering on these agendas is essential to rebuilding trust in international corporation.

Moreover, as reform efforts continue to make the United Nations and the wider multilateral system better adapted to the challenges of the 21st century, that reform must not be for its own sake, but to improve efficiency and deliver better for our global constituents.

Progress in trade and development is critical to that renewal because a more equitable global economy is essentially to demonstrating that multilateralism still works for all.

During this 16th session of UMTAD, the task before us is to restore trust in the global economy so that trade once again delivers fairness, justice, and inclusion.

That trust will not be rebuilt through words alone, but through action.

By ensuring that trade uplifts rather than divides, empowers rather than excludes, and helps every nation share in the promise of prosperity.

[Other language spoken]

Excellencies, ladies and gentlemen, it is a great honour to welcome you all to this newly renovated Assembly Hall or the Paladinacion.

Through the Strategic Heritage Plan, this historic building has been modernised to meet the needs of a changing world while preserving its unique legacy as a symbol of international cooperation.

I wish to express my sincere appreciation to all Member States for your continued support of this endeavour.

Your commitment is a powerful reformation of your faith in multilateralism and in the enduring values this building represents.

In 1964, the First United Nations Conference on Trade and Development was convened right here in this very hall, marking the birth of Ankhtar and the beginning of a new era in global economic dialogue.

From the outset, trade was embraced not as a tool of power, but as a pathway to peace, progress and shared prosperity.

Today, once again, we find ourselves at a pivotal moment for humanity.

Geopolitical divides are deepening, making multilateral cooperation more difficult and impeding the collective action required to tackle global challenges, from climate change and food insecurity to growing technological divides.

As a result, public trust in governments and international institutions has eroded, contributing to a more fragmented and polarised global landscape.

Progress on 2030 Agenda for Sustainable Development is lagging and in some cases has even fallen below the 2015 baseline.

Poverty, hunger and inequality are on the rise.

Human rights are under strain in every region and the triple planetary crisis, climate change, bad diversity laws and pollution continues to intensify, compounding vulnerabilities and undermining development gains.

In this context, trade, when guarded by inclusive and forward-looking policies, remains a powerful tool to reverse these negative trends and accelerate progress towards the SDGS.

That is why this conference is both timely and essential.

Until 16 offers a critical opportunity to demonstrate that multilateralism can adapt, respond and deliver on the global commitments.

The Pact for the Future, adopted last year, provides a clear and comprehensive road map to reinverberate our multilateral system and address the challenges of today and tomorrow.

[Other language spoken]

Turning ambition into impact demands sustained political will, innovative policy solutions and inclusive partnerships at every level.

As we navigate an increasingly multi polar world, we must harness its inclusive potential.

That means embracing what Secretary General Antonio Guterres has called networked multilateralism, a dynamic, interconnected approach that builds bridges across regions, sectors and institution.

Here in Geneva, we see this approach in action.

Governments, international organisations, civil society, academia and the private sector working together to fetch practical solutions to shared challenges.

This spirit of pragmatic partnership offers a compelling model for a multilateralism that delivers tangible results.

As we strengthen these networks, reforms remain essential.

The international financial architecture must evolve to meet today's realities, from addressing unsustainable debt and modernising the business model of multilateral development banks, to advancing fairer global tax norms and scaling up climate finance.

The UN8 initiative offers critical momentum for these reforms.

We must seize it with clarity, courage, and collective resolve.

This conference exemplifies the kind of inclusive and network multilateralism we need.

May it serve as a space for bold ideas, innovative partnerships, and renew determination to build a resilient, sustainable and inclusive future for all.

[Other language spoken]

And I'm Rebecca Greenspan, Secretary General de la Tucerte Poisson discourse tu vertue de la parole.

[Other language spoken]

Today we gather under the theme Shaping the Future because the future has never been less certain.

The uncertainties are crumbling, the assumptions that govern global trade for decades are being questioned.

The pathways that seem permanent are being withdrawn.

And in this process of the old lies the raw material of the new.

Consider what is happening before our eyes.

The geography of growth has shifted.

Today, 3/4 of it comes from the developing world.

[Other language spoken]

Services and data now flow across borders that containers cannot cross.

A programmer in Kigali can compete with one in California.

An entrepreneur in Bangladesh can reach customers in Berlin.

Clean technologies are undergoing a boon that even the most optimistic forecasters fail to imagine.

And artificial intelligence has moved from science fiction to science fact.

Yet even of this tectonic shift create unprecedented opportunities to reshape the global economy to make it more dynamic, more sustainable, more equitable, more innovative and inclusive.

There are also forces that can pull us backward if we stay on the defensive and continue with business as usual.

Yesterday's commodity dependence will be tomorrow's destiny.

Today's debt burdens will become permanent features of the landscape.

The digital divide will grow too wide to bridge, the climate transition too costly to afford, and the technological revolution to advance.

[Other language spoken]

Change with purpose is what we must embrace.

The future is not something that happens to us, It is something we built.

When Kenya decided to become a digital hub, it wasn't accepting the future, it was shaping it.

When Indonesia began adding value to its nickel, it wasn't following a predetermined path, it was carving a new one.

And when Barbados proposed posting debt payments during climate disasters, it wasn't only adapting to reality, it was changing.

We must build on that spirit.

The question is not whether these forces will transform the global economy, but who will direct that transformation and towards what ends.

This is why your presence here matters.

Every ministerial dialogue held this week, every paragraph that drafted, every commitment made is an act of shaping the future.

You are not here to predict it, you are here to shape it.

For 61 years and that has stood at this intersection of past and future.

We established the generalised system of preferences, opening developed countries market to developing nations.

For the first time.

We created the category of these developed countries, ensuring that the most vulnerable receive recognition and support in international frameworks.

We articulate the division of a new international economic order, planting the seeds for today's debate on reforming the international financial architecture.

Today's mandates stand on these foundations.

The question evolved, but the conviction remains.

The future belongs to those who shape it, and it must be shaped to benefit all.

Dear all, this has been a tough year for everybody.

It has been a tough year for trade, and even tougher, a tougher one for trade ministers.

For foreign ministers and finance ministers alike.

You've had to navigate tariff shifts more dramatic than on any time in recent history.

You've had to negotiate in an environment where Geo economics and geopolitics are more intertwined than ever before and where predictability became discourses commodity.

You had to balance domestic pressures with international commitments.

I want to specially acknowledge those of you who have faced these challenges with far fewer resources.

Many of you have been on the front line of disruption, yet at the back of the queuing negotiations at Anta.

We have done our best to support you throughout this year and we are proud to have you here with us in Geneva.

Dear friends, because of the work you've done, 72% of global trade still moved under WTO rules.

Trade is growing at 5-6 percent in current prices year on year and 9% if we look at South S trade, excluding China.

Most importantly, we have for now avoided the domino effect of tariff escalation that once brought the world economy to its knees in the 1930s.

This didn't happen by accident.

It happened because of you, because you kept negotiating when it seemed pointless, defending a rules based system even as you were to reform it, and building bridges even when they fell.

For that, I want to personally thank you.

The world may not always notice, but history will.

Excellencies beneath the resilience, important fragilities remain.

Resilience is not the same as stability, and we need both.

The world economy has learned to improvise, to adapt, to find a path through uncertainty that deserves recognition.

But the forces driving today's resilience are not always the ones that will sustain tomorrow's development.

Rising trade volumes coexist with many countries losing preferential access while facing higher absolute tariffs that make it harder for them to compete.

A debt and development crisis is still facing countries with impossible choices.

We have that in the interventions from the prime ministers and the president to default on their debt.

They have to decide to default on their debt or on their development.

Global investment flows are retreated for the second year in a row, eroding tomorrow's growth, and 2.6 billion people remain offline, most of them women in developing countries.

Freight costs are now too volatile, hitting landlord countries and small island developing states with transport bills up to three times the global average.

And while AI promises to add trillions to global GDP, fewer than 1/3 of developing countries have strategies to capture any of its benefits.

We know that a healthy, fair, and dynamic global economy is the foundation of a stable and peaceful world.

The outcome document being negotiated this week addresses each of these challenges with concrete mandates.

It commits ANTA to support the graduation of these developed countries, ensuring that graduation becomes not a Cliff but a bridge to sustain prosperity.

It calls for stronger SS cooperation through mechanisms like the GSTP, turning solidarity into market access.

It recognises that creating enabling investment environment requires addressing the capital cost disparities that make a dollar for investment three times more expensive in Zambia than in Zurich.

And it emphasises bridging digital divides through not just connectivity but capacity, ensuring countries can innovate, not just consume.

But this conference delivers more than that.

Over the coming days, you'll engage in ministerial dialogues that translate principles into practise.

The Investment Roundtable will explore how to channel trillions in sustainable finance to countries that need it most.

The Digital Economy session will map pathways for countries to leapfrog all technologies and capture new ones.

The Supply Chain Dialogue will tackle how to make trade Rd routes resilient, resilient when all certainties about maritime passages no longer hold.

And the Financing for Development discussion will confront the debt crisis head on, building on civil commitments.

So, dear all, this has not been an easy year for us either.

In this 80th anniversary of the United Nations, the multilateral system faces pressures that impact every aspect of our work.

But as I have said, being a multilateralist today means being a reformist, and this institution has proven it.

We have been reforming and successfully responding to the new challenges into this new world since 2021 and here we are.

We organised this conference with a frozen budget and late, late change of venue.

We've stretched resources past any reasonable expectation.

The challenges have been great, but we have proven that we can overcome them.

We can be proud of the past, but being defensive will not take us into the future.

This is more true today than ever.

We are in a transition period where the old has not died and the new has not yet been born.

This is a period of contradictions.

Not all forces go in the same direction and all of them coexist.

What we do will define what will, what will happen because we have agency and we have the responsibility to use it.

Therefore, before I officially open this Ministerial conference, 3 acknowledgements are due first to our host, Switzerland, Pendan Plue de Sasantan, Busavedonia.

[Other language spoken]

2nd To our Member States, your engagement over these months of preparation has shaped this conference before it even began.

I especially thank Ambassador Paul Beckers, our Trade and Development Board President.

Paul, your steady leadership has guided us through complex preparation.

[Other language spoken]

And to the coordinators of the negotiating groups, your tireless work bridging differences and finding common ground exemplifies diplomacy at its best.

[Other language spoken]

The proposals you've submitted, the consultations you've conducted, the red lines you've defended, this is multilateralism in its most genuine form.

These are countries insisting on shaping their own futures at a time when multilateralism faces many questions.

Your presence here constitute an answer.

I really thank you.

Lastly, to my staff, the conference you see this week, the ministerials that will convene, the negotiations that will unfold, the outcome document that will emerge rest on work that remains largely invisible.

The logistic coordinated across multiple venues and time zones, the documents prepared with precision, the relationships with partners and stakeholders that open doors.

You've done this work with the professionalism that defines this institution.

I am proud of your work and I thank you.

Excellencies, all of us, missing ministers and authorities and that staff, member states, private sector, civil society, youth, women have overcome challenge, overcome challenges to be here.

And we've done that not just for the sake of negotiating a document or taking place in a ministerial dialogue or arranging A bilateral.

We've come here to declare that we can shape the future and that we've come to shape it together.

I hereby declare the 16th Ministerial Session of the United Nation Conference on Trade and Development officially open.

[Other language spoken]

Je merci Madame Las crate general Greenspan por SE Fort paroche merci tut ET tos povo reflects 1 of remark espirant Avon de paseo leaders dialogue chevita President tule chef, the delegation, the whole.

UNCTAD 16 Opening Session - 20 October 2025