Sri Lanka calls for urgent global reforms at UN trade summit

Wednesday, 22 October 2025 00:30 - - {{hitsCtrl.values.hits}}

Trade Minister Wasantha Samarasinghe addressing the 16th UNCTAD in Geneva

Trade Minister Wasantha Samarasinghe called for urgent reforms to address widening inequalities in the global economy, speaking at the opening of the 16th United Nations Conference on Trade and Development (UNCTAD) in Geneva on Monday.

“From climate impacts and debt burdens to digital and economic divides, the multiple crises we face expose deep inequalities in the global economy,” Samarasinghe said.

“Developing nations, especially small and vulnerable countries like Sri Lanka, require urgent reforms and collective solutions to address these challenges,” he added.

He reaffirmed Sri Lanka’s support for UNCTAD’s central role in shaping trade and development strategies and protecting the policy space needed for national priorities.

“Strengthening UNCTAD’s analytical and technical capacities is essential,” he noted.

“We emphasise the need for enhanced cooperation and technology exchange to ensure all countries can benefit from emerging opportunities and build resilience. Together, through shared purpose and collaboration, we can move toward a more just and sustainable global economic order.”

During the formal dialogue session, Samarasinghe said the world is facing unprecedented disruption and called for renewed global solidarity.

“We meet at a time when the world is facing many challenges. Developing countries, especially small and vulnerable nations like Sri Lanka, are under pressure.

“The COVID-19 pandemic, climate disruptions, debt crises, and rising global tensions have made it difficult for us to grow our economies and improve the lives of our people. But we are not here to surrender hope.

“We are here to demonstrate that multilateralism and international cooperation still matter and to seek solutions,” he said.

Expressing confidence in Sri Lanka’s recovery prospects, the Minister added, “Despite the difficulties, Sri Lanka remains hopeful. With the support of UNCTAD and our development partners, we can recover strongly, build green economies, and offer a better future to our people.”

The 16th UNCTAD conference, held under the theme “Shaping the Future,” continues in Geneva until tomorrow with leaders from 195 member States participating.

Samarasinghe is also scheduled to hold several bilateral meetings during the event.