UNCTAD – 72nd Trade and Development Board Item 2 – General Debate

Mr. Chair,

At the outset, my Delegation would like to commend the outgoing Chair, His Excellency Ambassador Paul Bekkers of the Netherlands, on his leadership and efforts, and congratulate you, Ambassador José Sánchez-Fung, on your election to preside over the 72^nd session of the Trade and Development Board. Please be assured that the Holy See stands ready to provide its cooperation and support to you and the Bureau in ensuring a successful session.

My Delegation would also like to thank UNCTAD for organizing this 72^nd Session of the Trade and Development Board, which provides an opportunity to address key emerging challenges and opportunities, and to review the progress of the Orgnization’s activities.

Mr. Chair,

Just a few weeks ago the “Geneva Consensus”, with the theme “Shaping the future: Driving economic transformation for equitable, inclusive and sustainable development” was adopted. It is time to turn commitments into actions, which should be part of a coherent, international effort, firmly rooted in the recognition of the inherent God-given dignity of each person and directed towards an integral human development for all.

 “True development cannot consist in the simple accumulation of wealth and in the greater availability of goods and services, if this is gained at the expense of the development of the masses, and without due consideration for the social, cultural and spiritual dimensions of the human being.”[1] In pursuing its objectives, UNCTAD should envisage development as intrinsically connected to the human person.

In this respect, the goal of eradicating poverty must be at the heart of every action, as it “poses a dramatic problem of justice; in its various forms and with its various effects”[2]. Indeed Pope Leo XIV affirms that “Poverty has structural causes that must be addressed and eliminated.”[3]

The burden of unsustainable debt severely constrains the fiscal space of developing nations, forcing them to prioritize debt servicing over making essential investments in human development, such as education, healthcare and social protection.

This imbalance is also evident in the concept of “ecological debt”, whereby countries that have contributed the least to climate change are facing the most dire consequences. Therefore, providing financial and technical support, such as scaling up climate financing and investing in climate-resilient infrastructure, is essential for developing countries.

The digital divide, which prevents developing countries from accessing technologies essential for economic diversification, is also a clear example of inequality. UNCTAD can play a key role in helping these countries prepare to use data and digital technologies for sustainable development.

In pursuit of diversified economies that contribute to integral development, my Delegation would like to emphasize the need to rethink trade. It is necessary to adopt a development-driven approach to trade that prioritizes using trade rules and market access to build productive capacities, reduce poverty, and foster inclusive economic diversification in developing countries.

Mr. Chair,

UNCTAD’s consensus-building role can be a powerful advocate for more inclusive decision-making processes within global institutions. By facilitating dialogue and negotiations, and building trust, UNCTAD can help ensure that developing countries have a meaningful voice in shaping the policies and rules that govern international trade and finance.

In this respect, the Holy See encourages all States to make full use of the revised intergovernmental machinery of UNCTAD, including by achieveing substantive and actionable agreed outcomes based on expert recommendations.

In conclusion, as we embark upon this new quadriennium, please be assured of the Holy See’s continued support and constructive engagement.

Thank you.