Shah Mahmoud Quraishi
Pakistan’s Foreign Minister Shah Mehmood Qureshi addressed the meeting on behalf of the chair country and thanked the 134 members of G77 and China for reposing their trust in Pakistan to lead the Group in 2022. Image Credit: AP

Islamabad: Pakistan has been elected the next chair of the Group of 77 (G77) for the year 2022 at the 45th ministerial meeting held virtually.

Pakistan’s Foreign Minister Shah Mehmood Qureshi addressed the meeting on behalf of the chair country and thanked the 134 members of G77 and China for reposing their trust in Pakistan to lead the Group in 2022.

In his remarks, Qureshi emphasised that developing countries need to promote a “common development agenda” to achieve the UN Sustainable Development Goals (SDGs) by 2030.

The agenda would include debt restructuring, redistribution of the $650 billion new SDRs (special drawing rights) to developing countries, larger concessional financing, mobilisation of the $100 billion in annual climate finance by developed countries, ending the billions in illicit financial flows from developing countries and the return of their stolen assets as well as the creation of an equitable and open trading system and a fair international tax regime.

Pakistan’s ambassador to the UN Munir Akram expressed gratitude, saying the country is “honoured to be elected as the Chair of the group for 2022.” He also reaffirmed that Pakistan “will endeavour to work on the basis of transparency, inclusivity and objectivity in promoting the common interests and objectives of the group.”

Pakistan is a founding member of the Group of 77, established in 1964 in Geneva. It is the largest intergovernmental grouping of developing countries in the United Nations.

The Group provides the means for the countries of the so-called Global South to articulate and promote their collective economic interests within the UN system. Pakistan has earlier served as the chair of the group in 1977, 1992 and 2007.