Deputy Prime Minister and Minister of Foreign Affairs underlines Thailand’s vision on how BCG Model can contribute to trade and development system at the General Debate of the UNCTAD XV

Deputy Prime Minister and Minister of Foreign Affairs underlines Thailand’s vision on how BCG Model can contribute to trade and development system at the General Debate of the UNCTAD XV

8 Oct 2021

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Deputy Prime Minister and Minister of Foreign Affairs underlined Thailand’s vision for balanced, sustainable and green recovery from COVID-19 with the Bio-Circular-Green Economy Model (BCG Model) and shared three approaches on how to transform global trade and development system to deliver prosperity for all, at the General Debate of the UNCTAD XV.

On 5 October 2021, the Deputy Prime Minister and Minister of Foreign Affairs Don Pramudwinai delivered a pre-recorded statement at the General Debate of the Fifteenth Session of the United Nations Conference on Trade and Development (UNCTAD XV). The Conference was co-hosted virtually by Barbados and UNCTAD from 3 – 7 October 2021 under the theme “From Inequality and Vulnerability to Prosperity for All”.

The Deputy Prime Minister and Minister of Foreign Affairs underlined Thailand’s vision for balanced, sustainable and green recovery from COVID-19 with the Bio-Circular-Green Economy Model (BCG Model) and shared three approaches on how to transform global trade and development system to deliver prosperity for all: (1) raising awareness and mobilising all sectors of society to transition production and consumption patterns towards more sustainable practices by harnessing the power of Big Data and technologies, (2) fostering greater participation of SMEs, women and youth in BCG supply chains by expanding access to finance, bridging the skills gap, and unlocking regulatory barriers, and (3) providing developing countries with financial and technical support that enables them to localise low-carbon technologies.

UNCTAD XV aims to endorse the Bridgetown Covenant which will provide a platform for action to address inequality, reduce vulnerability and ensure lasting prosperity for all. The Covenant will emphasise on the impact of COVID-19 on trade and development, challenges from global mega trends, building resilient economy and sustainable development, and enhancing UNCTAD’s role on technical cooperation.

UNCTAD is an intergovernmental body under the United Nations umbrella with functions to promote international economic and development cooperation with a focus on developing countries’ perspective. It also serves as a forum to exchange views on trade, investment, finance and technology as vehicles for development, with a view to supporting developing countries to access the benefits of a globalised economy more fairly and effectively. Currently, UNCTAD comprises 195 Members.

 

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