Parmelin: world must seek consensus in face of growing polarisation

Parmelin: the world must unite in the face of "growing polarisation Keystone-SDA

Swiss Economics Minister Guy Parmelin, who is chairing the 16th UN Conference on Trade and Development (UNCTAD) in Geneva, has called for multilateral dialogue and the search for consensus.

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“The challenges are immense,” Parmelin said on Monday as he opened the meeting, which is held every four years. More than 700 million people in the world live in extreme poverty on less than $2.15 (CHF2.70) a day.

Conflicts affect international trade and economic growth, Parmelin said. Energy and commodity prices have risen as a result of global “instability”, while public funds are “getting scarcer” and debts are exploding.

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Parmelin called for a trading system based “on a regulatory framework” to be guaranteed. On Thursday, the members of UNCTAD, the largest UN agency, are due to agree on a roadmap for the next four years on development financing and the debt of developing countries.

Translated from French by DeepL/ts

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