09 September 2014 – In its capacity as G77 and China Vice-Chair and concurrent Asian Group Coordinator for 2014, the Philippines actively participated at the 68th Session of the Working Party on the Strategic Framework and the Program Budget of the United Nations Conference on Trade and Development (UNCTAD), held in Geneva from September 3 to 5.
The 68th Session of the Working Party focused on technical cooperation and evaluation of UNCTAD activities under Investment and Enterprise; Globalization, Interdependence and Development; and Science and Technology for Development programs for developing and least developed countries.
In statements delivered on behalf of the Group of 77 and China and Asian Group, First Secretary Raphael Hermoso of the Philippine Mission in Geneva stressed that it is crucial to have a fundraising strategy that ensures funding for technical cooperation will be both predictable and sustainable, and it is essential that technical cooperation will strengthen the ability of states and international organizations to meet challenges of the post-2015 development agenda.
He further expressed appreciation for the work undertaken by UNCTAD in the area of international investment and its lead role in international investment policy-making. The Philippine delegate also called for UNCTAD’s further assistance to the developing Asian region through capacity-building activities on regional International Investment Agreements rulemaking.
Established on 15 June 1964, G77 is the largest intergovernmental organization of developing countries in the United Nations coming from African, Asian and Latin American regions. It provides the means for the countries of the South to articulate and promote their collective economic interests, enhance their joint negotiating capacity on all major international economic issues within the UN system, and promote South-South cooperation for development. END