Mr. Chair,

I have the honour to deliver this statement on behalf of the Group of 77 and China.

At a time of heightened uncertainty in the global economy, the Group reaffirms the critical importance of macroeconomic stability, structural transformation, and resilient and inclusive growth strategies that support sustainable development. International cooperation must be grounded in solidarity, equity, and the right of every country to pursue policies tailored to its national circumstances.

The Group reiterates that commodity dependence remains a pressing challenge for many developing countries. The volatility of commodity prices, persistent structural vulnerabilities, and limited access to affordable finance continue to hinder the ability of these countries to invest in value addition, diversification, and industrialization. There is an urgent need for collaborative efforts to foster open, fair, transparent, and resilient commodity markets that benefit all participants and support global economic stability.

We stress the need to address systemic imbalances in the global economy through a more inclusive and development-oriented macroeconomic policy environment. This includes addressing the high cost of capital for developing countries, improving access to international liquidity, and ensuring a universal, rules-based, open, transparent, predictable, inclusive, non-discriminatory and equitable multilateral trading system with the WTO at its core . We also underline the importance of national sovereignty in the formulation and implementation of fiscal, and monetary policies.

The Group reiterates its strong condemnation of the imposition of unilateral coercive measures that affect the well-being of our peoples, especially in the Global South, which seek to deny their right to development, including the drawing up of false lists of alleged state sponsors of terrorism. The Group also rejects campaigns against international and medical collaboration that deny access to health care to millions of people, undermining the global solidarity that the Global South needs.

Mr. Chair,

Public resources and fiscal policy remain central to our collective response to the challenge of transformational investment. The Group emphasizes that effective domestic resource mobilization is best achieved when national leadership is matched by international support and cooperation, including capacity building, knowledge sharing, technical cooperation, and inclusive and effective international tax cooperation. At the same time, the sovereign right of each country to determine its own national priorities and fiscal strategies must be fully respected.

We welcome tangible commitments that support the digitalization of tax administrations, address illicit financial flows, promote nationally anchored fiscal and social compacts, and recognize the catalytic role of public development banks, including at the subnational level, in advancing transformative investments.

In this connection, we further welcome the convening of the Intergovernmental Negotiations Committee and the substantive discussions initiated on the United Nations Framework Convention on International Tax Cooperation and its two early Protocols. We call upon all Member States to engage constructively in an inclusive and effective negotiating process, aimed at strengthening international tax cooperation, ensuring fair and equitable allocation of taxing rights, and supporting the sustainable development efforts of developing countries.

Financial inclusion also plays a vital role in unlocking sustainable development. The Group emphasizes the need to expand access to affordable finance for women, youth, and small enterprises. Efforts to enhance digital literacy and participation in the digital economy can strengthen financial resilience and help ensure that no one is left behind.

The Group stresses the need to scale up long-term, affordable, and predictable financing for developing countries, aligned with their national development strategies. This entails urgent reform of the international financial architecture to unlock concessional and blended finance, de-risk private investment, and facilitate access to capital markets on fair terms.

Going forward, we support a focused and inclusive approach to ensure the full, timely, and effective implementation of the global financing commitments. Such a process must preserve hard-won gains that support the priorities of developing countries and advance progress across all dimensions of sustainable development.

The Group of 77 and China underscores the adoption of the Compromiso de Sevilla, the outcome of the Fourth International Conference on Financing for Development. This renewed framework builds on the Addis Ababa Action Agenda and aims to urgently close the $4 trillion annual financing gap, catalyze investments in developing countries, and advance reforms to the international financial and development cooperation architecture. As progress on the 2030 Agenda remains severely off track, the, timely, and effective implementation of the Compromiso de Sevilla across all action lines is critical.

To that end, the Group calls for a focused and inclusive follow-up that preserves gains for developing countries and drives key priorities: a more equitable international financial system, enhanced development cooperation aligned with national strategies, fair and open trade, increased private investment, wider access to science and technology, and urgent responses to high capital costs and debt challenges. The Compromiso de Sevilla reflects concrete deliverables and a spirit of solidarity and multilateralism that must guide our collective efforts going forward.

In this context, the Group of 77 and China will table eight draft resolutions under the two agenda clusters discussed today, each containing concrete policy proposals to support developing countries in pursuing their national development priorities and accelerating the implementation of the 2030 Agenda for Sustainable Development. These initiatives aim to help bridge critical gaps and advance progress toward the Sustainable Development Goals in the remaining five years to 2030.

The Group stands ready to engage actively and constructively in the discussions and negotiations of these resolutions. Our aim is to ensure that developing countries are equipped to effectively address the persistent financing challenges they face and to strengthen global solidarity in advancing inclusive and sustainable development for all.

I thank you.