In her opening remarks, UNCTAD Secretary-General Rebeca Grynspan highlighted that global trade reached a record USD 33 trillion in 2024, with developing nations growing faster than the global average. However, she cautioned that emerging trends such as trade tensions, tariff barriers, and declining investment pose risks to the most vulnerable economies.
Grynspan emphasized that while multilateralism faces difficulties, it remains the only viable tool to overcome global challenges.
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Ambassador Dang Hoang Giang, Vietnam’s Permanent Representative to the U.N. speaks at the event. |
On the occasion, she expressed her thanks for Vietnam’s commitment to hosting the 16th UNCTAD Ministerial Conference in this year, and described the country as a model of transformation through trade and an inspiration to the world.
G77 member states welcomed Vietnam’s role as host and expressed confidence in the conference’s success.
Speaking at the event, Ambassador Dang Hoang Giang, Vietnam’s Permanent Representative to the U.N., echoed UNCTAD’s concerns about escalating trade wars and retaliatory measures, which threaten global economic stability and sustainable development. He warned that disruptions caused by tariffs, protectionist policies, and trade conflicts could significantly hinder growth.
Ambassador Giang stressed that addressing these challenges requires a comprehensive and multilateral approach.
He identified three key factors for the future of global trade, including strengthening international cooperation, countering protectionism and advancing a fair and inclusive multilateral trading system.
He also thanked countries G77 members for supporting Vietnam’s role as host of the UNCTAD’s 16th Ministerial Conference and wished for the active participation to ensure its success.
Source: VNA