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Chinese envoy calls for common efforts with G77 in global economic governance

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UNITED NATIONS — A Chinese envoy said on Friday that the Group of 77 (G77) and China need to work together in improving global economic governance in 2017.

Wu Haitao, China’s deputy permanent representative to the UN, made the appeal at a ceremony here during which Thailand handed over the rotating chairmanship of the G77 to Ecuador.

While congratulating Ecuador on its assumption of the chairmanship, Wu said the G77 and China will maintain its unity and collaboration in promoting common development and safeguarding common interests in 2017.

“We need to steadfastly advance the reform of international economic governing system, effectively increase the representation of developing countries and support the UN in playing a bigger role in global economic governance,” said Wu.

Wu also acknowledged that under the leadership of Thailand last year, G77 and China cooperated closely in promoting the implementation of sustainable development agenda, safeguarding the common interests of developing countries and increasing the influence of the G77 in international affairs.

The G77, established in 1964, is now a coalition of more than 130 developing UN member states plus China. The group is the largest inter-governmental organization of developing countries within the UN, aiming to promote collective economic interest and gain leverage within the international community.

The group’s chairmanship rotates on a regional basis among countries in Africa, Asia-Pacific and Latin America and the Caribbean and is held for one year term.

Article source: http://www.chinadaily.com.cn/china/2017-01/14/content_27952336.htm