President Mokgweetsi Masisi said the G77’s pursuit of a new international economic order that benefits the developing world has been hindered by the failure to address the global power imbalance through necessary reforms.
Masisi said while the G77 has made strides in its six-decade of existance and achieved some of its lofty ideals, the 134-member-states body is yet to fulfil its core vision.
“Current global governance systems and frameworks have let the Global South down. Unfortunately, calls for reforms of these systems and frameworks to create a fairer future for developing countries and make them reflect the realities of today’s world remain unanswered and ignored by those unfairly advantaged by the status quo,” Masisi said.
Masisi highlighted that the failure of these global systems and institutions has not only regated decades of development gains made but also hampers ongoing efforts to attain Sustainable Development Goals. Established in 1964, the Group of 77 (G77) is a coalition of developing nations at the United Nations. China remains an important part of the collation after joining in 1967.
Drawing attention to Botswana, the president told the summit that the country has also experienced the dire consequences of these unprecedented challenges.
“In the face of an existential threat brought about by the COVID-19 pandemic, we endured injustice when our pleas for timely assistance were met with a cold indifference characterised by vaccine hoarding, unfair trading practices and unjustified travel bans, among others,” he said.
Masisi indicated that this stands as a stark reminder of the urgent need for the developing world to double its efforts to deliver on its vision of a multilateral system that advances sustainable development and prosperity of all countries in the world.
“Our journey over the past decades to ensure that Batswana are not left behind stands as a testament to how transformation for progress can be a catalyst for economic and social upliftment. From the foundations of our economic diversification to our robust institutions, prudent economic management, and substantial investment in human capital development, my Government continues to play a pivotal role in shaping our nation’s destiny,” he said.
Masisi said through collaborations, the G77 and China can amplify its impact, maintaining that it is only through unity that a more sustainable, responsible and prosperous world where cooperation knows no borders can be built.
It is in this regard that he pointed out the obligation of developed economies to work constructively with developing countries to reduce inequality and build bridges to a sustainable future for all.
“Together, we can share knowledge, skills, expertise and resources, thereby coordinating our efforts to preserve the world for generations to come,” Masisi said as he urged for the recognition of this form of collaboration as an essential catalyst for change that embodies solidarity, innovation, and mutual support.
As the G77 and China chart a course toward a sustainable future he added that focusing on trust and global solidarity is the best way to build a peaceful, prosperous and sustainable future for all.
“Merely acknowledging global problems without taking substantive measures will not solve them,” Masisi said.
Additionally, he urged the deliberations of the summit to also give eminence to countries with special situations, such as the Landlocked Developing Countries (LLDCs), Least Developed Countries (LDCs) and Small Island Developing States, which he says bear the most pressure.
“These nations are not just vulnerable – they are also left behind. They need support to uplift their people, create jobs, and foster sustainable growth,” Masisi said in his capacity as the Global Chair of the Group of Landlocked Developing Countries.
Held under the theme “Leaving No One Behind” the summit, which is the supreme decision-making body of the G77, brought together leaders of the global south to deliberate on pressing development challenges.
It was established in 1964 with 77 member countries, and its primary purpose is to promote collective economic interests and enhance their joint negotiating capacity on various international issues. China, despite being a global economic giant, is a member of the G77.
The G77 has grown to become a 134-member state with China, a strong economic power, being a key partner in advancing the interests of the least developed countries on global issues.