Mr./Ms. Moderator,

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

The Group stresses that, despite the progress achieved, the imbalances in the global economy and the inequitable structures and outcomes in the trading, financial, monetary and technological systems that led to the establishment of the Group persist to this day. Commodity-dependent developing countries bear a disproportionate share of these structural asymmetries, which perpetuate cycles of economic instability and undermine development prospects.

The Group recalls that the commodity sector continues to be the mainstay of the economy of many developing countries in terms of the generation of income, savings and foreign exchange, as well as employment and livelihood, particularly for the poor and women.

In this regard, the Group reaffirms the need for securing competitive conditions in commodity markets, and addressing price instability and declining terms of trade through both governmental action and market-based instruments, as well as enhanced, equitable and predictable market access for commodities of key importance to developing countries.

The Group reaffirms that international trade is an engine for inclusive economic growth and poverty eradication and that it contributes to the promotion of sustainable development, structural transformation and industrialisation, particularly in developing countries.

The Group stresses that the issues of particular concern to developing countries should be addressed, especially as related to sectors of special interest to them, with a view to enhancing their capacities to finance development and to diversify their economies.

The Group highlights the urgent need for support to structural transformation and to enhance productive capacities for building diversified, resilient, and sustainable economies that can generate decent and productive employment, and investments in areas such as infrastructure, innovation, technology, and skills development, as well as support for small and medium-sized enterprises.

In this line, the Group wishes to highlight the crucial role of small-scale farmers and fishers in eradicating hunger, reducing rural poverty and improving global food security, especially when these farmers and fishers are assisted to achieve sustainable agricultural production and use of marine resources. National, regional and international strategies are needed to promote the inclusive participation of farmers and fishers, especially smallholder farmers, including women, in community, national, regional and international markets.

The Group expresses the determination to break away from commodity dependence by adding value to our commodities and strengthening our national productive capacities, with a view to achieving structural transformation and economic diversification. The Group reiterates that developing countries, including African countries, the least developed countries, landlocked developing countries, small island developing States and middle-income countries, with limited productive capacities and trade infrastructure, continue to face challenges in integrating into regional and global value chains.

Finally, the Group remains concerned about the persistent vulnerabilities, faced by developing countries due to commodity dependence, which hinders economic resilience, weakens fiscal stability, delays structural transformation, and exposes them to price volatility and external shocks.

The Group invites countries to increase voluntary contributions to the Common Fund for Commodities, to enable the fund to scale up support to developing countries, especially least developed countries, for projects that promote value addition, particularly in agriculture, and to expand into processing and manufacturing.

In this regard, its creation remains one of the most enduring institutional achievements of the G77, translating South-South solidarity into practical instruments for value addition, diversification, and sustainable livelihoods in commodity-dependent developing countries.

I thank you.