Nepal has said that the Global South is emerging as an economic powerhouse and contributing to more than half of the world’s growth.
Addressing the third South Summit of Group 77 and China, Nepal’s Foreign Secretary Sewa Lamsal stressed on the importance of deeper cooperation in addressing the myriad of global challenges such as the Covid-19 pandemic, inequality, debt distress, conflicts, climate change, and geopolitical rivalry.
The summit brought more than 134 countries together on a single platform to enhance South-South cooperation in the areas of sustainable development, climate change, trade, and investment, among others.
Lamsal reiterated Nepal’s support to the Group of 77 and China in implementing the Sustainable Development Goals (SDGs), Paris Agreement, and other Internationally Agreed Development Goals including Doha Program of Action. She expressed Nepal’s strong commitment to fostering solidarity, harmony, and cooperation among countries of the Global South.
She highlighted that the Global South is emerging as an economic powerhouse and contributing to more than half of the world’s growth. With 134 member countries comprising over two-thirds of UN members and 80 percent of the global population, Group of 77 and China, is a strong force to be reckoned with, said Lamsal. “Together, we can deliver better and greater,” she added.
Foreign Secretary Lamsal also urged the group to play an instrumental role in decision-making and norm-setting in global development and financial architecture. She called on the member states to collaborate in making multilateralism more inclusive, innovative, and responsive to the needs of developing countries.
While calling for the fulfillment of promises and commitments made by developed countries in terms of Official Development Assistance, climate financing, and technology transfer, she underscored the importance of strengthening North-South, South-South, and Triangular Cooperation by focusing on the needs of LDCs in trade, infrastructure, and productive capacity.
