NEW YORK: Foreign Minister Bilawal Bhutto Zardari hosted special meeting of the G-77 and China on “Achieving the SDGs: Addressing Present Challenges and Building Resilience Against Future Crises” at the United Nations headquarters here on Friday.
In his opening remarks, the Foreign Minister highlighted that the developing countries suffered disproportionately from multiple crises like Covid-19 pandemic; supply chain disruptions; spiraling prices; depreciating currencies and climate-induced disasters.
He said geopolitical tensions including Ukraine war and accompanying restrictions had disproportionately impacted developing countries.
During the course of his speech, Bilawal several emergency measures and systemic reforms aimed at reviving the economies of the developing countries. Those proposals include reform of the international financial architecture (as proposed by UNSG), including a multilateral mechanism for the sustainable debt management.
He called for implementation of the climate change agenda and commitments in accord with the principle of equity and common but differentiated responsibilities and respective capabilities, and for urgent operationalization of the fund for “loss and damage”.
The Foreign Minister stressed on the need for rapid deployment of sustainable infrastructure – energy, transportation, housing, manufacturing, agriculture – to transition to a sustainable global economy. He welcomed initiatives such as China’s BRI & G-7’s Global Infrastructure Initiative.
Officials said the Conference was expected to endorse many of Chair’s proposals in its Outcome declaration. The adaptation of this strategy document will assist G77 to secure tangible results in forthcoming Conferences; SDG Summit in Sept. 2023, CoP28 next Nov. in Dubai, and at Summit of the Future in 2024.
