Politics

UNCTAD commends Vietnam’s contributions to global trade, development

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.

Ambassador Dang Hoang Giang, Vietnam’s Permanent Representative to the UN speaks at the event (Photo: VNA)
Ambassador Dang Hoang Giang, Vietnam’s Permanent Representative to the UN speaks at the event (Photo: VNA)

New York (VNA) - A dialogue between the Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) and member states of the Group of 77 (G77) and China was held in New York on March 28 to discuss current challenges in international trade and development, during which the Secretary-General described Vietnam as a model of transformation through trade.

In her opening remarks, UNCTAD Secretary-General Rebeca Grynspan highlighted that global trade reached a record 33 trillion USD 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 emphasised that while multilateralism faces difficulties, it remains the only viable tool to overcome global challenges.

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 UN, 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./.

VNA
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