Director-General's remarks at the Opening of UNCTAD16 “Shaping the future: Driving economic transformation for equitable, inclusive and sustainable development”

Opening of UNCTAD16 “Shaping the future: Driving economic transformation for equitable, inclusive and sustainable development”

Monday, 20 October 2025, at 10.00 a.m.
Assembly Hall, Palais des Nations

Excellencies, 
Ladies and gentlemen,

It is a great honour to welcome you all to the newly renovated Assembly Hall of the Palais des Nations. Through the Strategic Heritage Plan, this historic building has been modernized to meet the needs of a changing world — while preserving its unique legacy as a symbol of international cooperation. I wish to express my sincere appreciation to all Member States for your continued support of this endeavour. Your commitment is a powerful reaffirmation of your faith in multilateralism and in the enduring values this building represents.

In 1964, the First United Nations Conference on Trade and Development was convened right here in this very Hall, marking the birth of UNCTAD and the beginning of a new era in global economic dialogue. From the outset, trade was embraced not as a tool of power, but as a pathway to peace, progress, and shared prosperity.

Today, once again we find ourselves at a pivotal moment for humanity. Geopolitical divides are deepening, making multilateral cooperation more difficult and impeding the collective action required to tackle global challenges — from climate change and food insecurity to growing technological divides. As a result, public trust in governments and international institutions has eroded, contributing to a more fragmented and polarized global landscape.

Progress on the 2030 Agenda for Sustainable Development is lagging — and in some cases, has even fallen below the 2015 baseline. Poverty, hunger, and inequality are on the rise. Human rights are under strain in every region. And the triple planetary crisis — climate change, biodiversity loss and pollution — continues to intensify, compounding vulnerabilities and undermining development gains.

In this context, trade — when guided by inclusive and forward-looking policies — remains a powerful tool to reverse these negative trends and accelerate progress toward the SDGs.

That is why this Conference is both timely and essential. UNCTAD16 offers a critical opportunity to demonstrate that multilateralism can adapt, respond, and deliver on the global commitments.

The Pact for the Future, adopted last year, provides a clear and comprehensive roadmap to reinvigorate our multilateral system and address the challenges of today and tomorrow. But the true test lies in implementation. Turning ambition into impact demands sustained political will, innovative policy solutions, and inclusive partnerships at every level.

As we navigate an increasingly multipolar world, we must harness its inclusive potential. That means embracing what Secretary-General António Guterres has called “networked multilateralism”—a dynamic, interconnected approach that builds bridges across regions, sectors, and institutions. Here in Geneva, we see this approach in action: governments, international organizations, civil society, academia, and the private sector working together to forge practical solutions to shared challenges. This spirit of pragmatic partnership offers a compelling model for a multilateralism that delivers tangible results.

As we strengthen these networks, reforms remain essential. The international financial architecture must evolve to meet today’s realities — from addressing unsustainable debt and modernizing the business model of multilateral development banks, to advancing fairer global tax norms and scaling up climate finance. The UN80 initiative offers critical momentum for these reforms. We must seize it with clarity, courage and collective resolve.

This Conference exemplifies the kind of inclusive and networked multilateralism we need. May it serve as a space for bold ideas, innovative partnerships, and renewed determination to build a resilient, sustainable, and inclusive future for all.

Thank you.