With China as guest, G77 seeks new development commitments

Image
AFP Santa Cruz De La Sierra (Bolivia)
Last Updated : Jun 14 2014 | 10:39 PM IST
Leaders of developing nations plus China meet here today to draft a global anti-poverty agenda at a summit that also showcases Latin America's burgeoning relationship with the Asian giant.
UN Secretary General Ban Ki-moon and Bolivia's President Evo Morales were scheduled to inaugurate the G77 summit, which marks the 50th anniversary of the group's founding. It has grown from 77 developing countries in 1964 to 133 member states, encompassing two-thirds of the world's countries.
"This summit is not purely commemorative, it will propose new social policies," said Morales, a leader of Latin America's radical left and the group's current president.
The summit closes Sunday with a document that Bolivia's Vice President Alvaro Garcia Linera described as "the first draft of the post Millennium Development Goals," a set of UN goals that are approaching their 2015 expiration date.
Hammered out in previous meetings, the G77 document sets forth ambitious new commitments to reduce poverty and inequality, foster sustainable development, protect sovereignty over natural resources and promote fair trade and technology transfers.
The world is still well short of fulfilling the original eight Millennium goals, which included a call to reduce the number of people living in extreme poverty by half.
Other goals included guaranteed access to primary education, equality for women and girls, reduction of infant and maternal mortality and diseases like AIDS and malaria, and facilitating access to potable water.
China, which is not a G77 member, is participating in the summit, partly in a nod to its expanding trade ties in Latin America, although President Xi Jinping will not attend.
China will be represented by a vice chairman of China's National People's Congress, Chen Zhu.
With massive purchases of commodities and exports of its manufactured goods to the region, China in recent years has emerged as a main trade partner of many Latin American countries.
Beijing now seeks a new model of cooperation that would marshal large investments for infrastructure projects needed to sustain growth in Latin America.
During a tour of the region in May, Chinese Foreign Minister Wang Yi said Beijing intends to invest more in Latin America and raise relations to a new level.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 14 2014 | 10:39 PM IST

Next Story