G77 draft statement rejects coercive measures against Global South
The coalition confirms in its statement the need to reform the multi-lateral financial framework.
The preliminary statement from the G77+China Summit reaffirmed the group's dedication to strengthening unity and solidarity in pursuit of the members' shared goals.
Highlighting the current challenges faced by countries in the Global South, particularly the unjust international economic system, the statement underscored the pressing need for a comprehensive reform of the multi-lateral financial framework and the adoption of a more inclusive and coordinated approach.
Furthermore, the draft statement firmly opposed the imposition of unilateral coercive measures and sanctions, emphasizing that they are in violation of the principles of the United Nations Charter and international law.
The statement also placed a strong emphasis on fostering increased collaboration between the Global North and South.
Lastly, member and participant nations acknowledged in the statement the transformative potential of science, technology, and innovation in advancing societies.
Stay tuned for the special coverage #AlMayadeen is launching from #Havana on the #G77 Summit from September 12 to the 17th.— Al Mayadeen English (@MayadeenEnglish) September 12, 2023
The Group of 77 is the largest intergovernmental organization of developing countries in the #UN, which provides the means for the countries of the South… pic.twitter.com/ecG55QwIb2
Founded back in 1964, the G77 quickly became a focal point for the world's economic landscape. The bloc later emerged as an international platform uniting developing nations and enabling them to voice their concerns, advocate their interests, coordinate their stances, and negotiate with developed nations.
This year's event, however, is not like the ones held previously. At the heart of the 2023 summit is China; the main driver today toward a multipolar world and a primary leading power of the Global South.
The G77+China Summit held in Cuba's Havana is considered a milestone event that is expected to have global geopolitical implications not only for its host country but also for China specifically, as well as the broader Global South.