Chair of the twelfth Session of the Trade and Development Commission, Ambassador Chad Blackman of Barbados,
Director Shamika Sirimanne of the Division on Technology and Logistics,
Officer-in-Charge of the Division on International Trade and Commodities,
Excellencies,
Ladies and gentlemen,

Mr. Chair,

1. The Group of 77 and China would like to thank the Chair and Vice-Chair of the most recent edition of the Multi-Year Expert Meeting on Enhancing the Enabling Economic Environment at All Levels in Support of Inclusive and Sustainable Development, and the Promotion of Economic Integration and Cooperation, for having conducted a successful meeting and for the report they have provided, as well as to thank the Secretariat for the substantive and logistical support for this meeting.

2. The informal sessions of this Multi-Year Expert Meeting touched on some of the most topical issues of interest to our Group. The session on the Macroeconomic framework for promoting inclusive and sustainable investment for development posed an interesting dilemma as to how investment is necessary for sustainable growth and development, while at the same time being dependent on growth itself. At the same time, it is clear that public private partnerships and private investment on their own are not a viable solution to achieve the required levels of investment.

3. The session on Banks and financial institutions for investment in a global green new deal furthermore shone a light on the role of development banks and financial institutions as a whole, sharing some interesting experiences, including through the new and enhanced role of central banks, in particular for climate financing.

4. Lastly, the session An inclusive transition provided valuable insights on the road to overcome some of main shortcomings of the current global economic scenario, such as the fall of the share of labour income, the erosion of public spending, the weakening of productive investment and the increasing atmospheric stock of greenhouse gases.

5. The Group of 77 and China would like to highlight the value of these discussions. In fact, our Group would be interested to see these discussions resume taking into account the current scenario of the pandemic, which the latest edition of this Expert Meeting preceded. Indeed, the issues discussed at this Expert Meeting could serve as very valuable insights for UNCTAD 15 preparations.

Thank you, Mr. Chair.