Economy

Voice of G77 and China must be heard: UN chief

(Xinhua)
Updated: 2011-01-13 11:14

UNITED NATIONS - UN Secretary-general Ban Ki- moon on Wednesday highlighted the role of the Group of 77 (G77) and China in reforming and strengthening international economic and financial governance -- a task Ban called "difficult, but essential."

The statement came as Ban addressed a ceremony for the handover of the G77 chairmanship from Yemen to Argentina.

Incoming chairman Argentina's Foreign Minister Hector Marcos Timerman will replace Abdullah M. Alsaidi, ambassador of Yemen to the UN, whose term expired in December 2010.

Ban expressed his confidence in the transfer of chairmanship, comparing it to "an expert baton pass between runners in a relay race, with good communication and a sense of common purpose."

In the aftermath of the global economic and financial crises, the secretary-general said cooperation amongst both Yemen and Argentina, along with all G77 countries, is vital in confronting the challenges that lie ahead.

"Important trends continue to shape our shared efforts to combat poverty and ensure prosperity for all," he said. "From San Paulo to Shanghai, many developing countries are becoming engines of global growth."

However, Ban noted that recovery from the financial crisis in some developed countries is proving to be slower and more problematic than anticipated.

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"Changing times require changing institutions. Gone are the days, when a few could claim to speak for the many," Ban said.

Meanwhile, the secretary-general called on members of the G77 to focus their efforts on combating the effects of climate change, which remains a particularly difficult challenge for developing countries.

Ban said he will also look to G77 members to "sustain the momentum" in achieving the UN Millennium Development Goals -- eight anti-poverty targets that aim to be completed by a 2015 deadline.

The Group of 77 is a coalition of 130 developing UN member states, plus China. It aims to promote collective economic interests and gain leverage within the international community.

The group represents the largest intergovernmental organization of developing states in the United Nations.