Minister of Trade, Commerce, Food Security, and Cooperative Development, Wasantha Samarasinghe, participated in the opening ceremony of the 16th United Nations Conference on Trade and Development (UNCTAD), held in Geneva, Switzerland, on Monday (20).
This conference is the UN’s premier forum on trade and development. It brings together leaders from 195 member states, including heads of state, trade and economic ministers, heads of international organizations, Nobel laureate economists, civil society groups, development banks, financial institutions, and global trade organizations, to discuss current global trade, finance, investment, technological trends, and challenges.
As the UN’s highest decision-making body on trade and development, the conference will assess current issues faced by member states and formulate global policy directions for the next four years.
Held under the theme “Shaping the Future,” the conference also included the G77 and China ministerial meeting.
“From climate impacts and debt burdens to digital and economic divides, the multiple crises we face expose deep inequalities in the global economy. Developing nations, especially small and vulnerable countries like Sri Lanka, require urgent reforms and collective solutions to address these challenges. We reaffirm UNCTAD’s central role in shaping trade and development strategies and safeguarding the policy space needed to pursue our national priorities. Strengthening UNCTAD’s analytical and technical capacities is essential. We emphasize the need for enhanced cooperation and technology exchange to ensure all countries can benefit from emerging opportunities and build resilience. Together, through shared purpose and collaboration, we can move toward a more just and sustainable global economic order,” Minister Samarasingeh said, addressing the event.
Following the opening, the conference’s formal dialogue began, where Minister Samarasinghe added, “We meet at a time when the world is facing many challenges. Developing countries, especially small and vulnerable nations like Sri Lanka, are under pressure. The COVID-19 pandemic, climate disruptions, debt crises, and rising global tensions have made it difficult for us to grow our economies and improve the lives of our people. But we are not here to surrender hope. We are here to demonstrate that multilateralism and international cooperation still matter and to seek solutions.”
Minister Wasantha Samarasinghe further expressed confidence that, despite difficulties, Sri Lanka remains hopeful, adding that with support from UNCTAD and development partners, the country can recover strongly, build green economies, and offer a better future to its people.
The Minister is also scheduled to participate in several bilateral meetings in Geneva, while the 16th UNCTAD session continues until October 23. (Newswire)