The largest intergovernmental alliance of developing countries in the United Nations called the ‘Group of 77’ has elected Pakistan as the next chair for the group.

The Foreign Office issued a statement, that the development took place during the 45th ministerial meeting of Group of 77 and China, which was held in a virtual format on Tuesday.

Foreign Minister Shah Mahmood Qureshi addressed the gathering and expressed gratitude towards the 134 members of G77 and China for reposing their trust in Pakistan to lead the group in 2022.

Qureshi highlighted that the world is battling with a triple threat; the Covid pandemic and its consequences, the task of achieving the United Nations Agenda 2030 for Sustainable Development, and the existential threat of climate catastrophe which has had a disproportionate impact on the developing countries.

He further added that only if the developing countries are given access to adequate resources such as financial resources, then an inclusive and equitable recovery from the current crisis to return to sustainable economic growth is possible.

FM Qureshi also stressed that the developing countries are required to promote a “Common Development Agenda” to attain the UN Sustainable Development Goals (SDGs) by 2030.

He emphasized that, as the next chair of the Group of 77 and China, Pakistan would work towards promoting such development goals while working alongside the members of the group. The agenda includes debt restructuring; redistribution of the $650 billion new SDRs to developing countries; larger concessional financing; mobilization of the $100 billion in annual climate finance by the developed countries; ending the billions in illicit financial flows from the developing countries and the return of their stolen assets; and the creation of an equitable and open trading system and a fair international tax regime.

The Group of 77 was established in 1964, and it is the largest intergovernmental grouping of developing countries in the United Nations.

The group provides the means for the countries of the Global South to articulate and promote their collective economic interests within the UN system.

As per the FO, Pakistan is one of the founding members of the group and has had the distinct privilege to serve as its chair in New York on three occasions in the past.

The story was filed by the News Desk.
The Desk can be reached at info@thecorrespondent.com.pk.

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