By Beyza Binnur Donmez
GENEVA (AA) - The world needs "one global market and one global economy" as it cannot "afford splits into rival block," UN Secretary-General Antonio Guterres said on Wednesday.
He was addressing the Global Leaders Forum for the 60th Anniversary of UN Trade and Development (UNCTAD) in Geneva.
Underlining that UNCTAD remains "faithful" to the core principle of promoting inclusive and sustainable development through trade and investment, he said: "This is essential as multilateral cooperation is weakened and the forces of fragmentation grow stronger."
New trade barriers introduced annually have nearly tripled since 2019, mainly driven by geopolitical rivalry, with no concern for their impact on developing countries, he said.
"The world cannot afford splits into rival blocs. To implement the (sustainable development goals) SDGs, and to ensure peace and security – we need one global market and one global economy, in which there is no place for poverty and hunger," he said.
The UN chief drew attention to the fact that the elimination of poverty remains "the primary objective" of sustainable development.
"We must channel the courage and wisdom of those who built UNCTAD, to reimagine a world where trade is a force for shared prosperity - not geopolitical rivalry; where global supply chains are source of green innovation and climate action – not environmental damage; where sustainable development is a central goal – not an afterthought."
"And where a networked and inclusive multilateralism, drawing on the expertise of the corporate sector, academia and civil society, is a means to realizing our shared ambitions – not a relic of the past," he said, adding: "UN Trade and Development has an essential role in that world."