Digital trade now supports over 60% of global GDP growth, but rising market concentration in AI and cloud services poses risks to inclusion, necessitating policy measures to ensure broader participation.

Leaders such as Timor Leste’s President Ramos-Horta and Vietnamese Prime Minister Phạm Minh Chính emphasized the need for reforms in global trade and financial systems and reaffirmed support for sustainable development initiatives.

The UN Conference on Trade and Development (UNCTAD 16) opened in Geneva on October 20, bringing together global leaders to address pressing issues like trade unpredictability, debt burdens, and declining investments that threaten the world's poorest populations.

The conference aims to shape a sustainable and inclusive global economy by promoting reforms in multilateral trade and financial systems, with high-level delegates discussing the need for rebalanced trade rules, decisive debt action, and digital inclusion.

A significant focus is on attracting sustainable investments into developing countries, especially in sectors like green energy, health, education, water, sanitation, and digital infrastructure, amid declining foreign direct investment into traditional sectors.

UNCTAD Secretary-General Rebeca Grynspan highlighted that 3.4 billion people live in countries spending more on debt servicing than on health and education, calling for a fairer financial system and better debt management to support vulnerable nations.

Opening remarks stressed the urgency of a fundamental shift in development thinking, advocating for rebalanced trade rules, climate justice, and digital divide bridging to foster inclusive growth.

Despite geopolitical tensions, global trade showed resilience in the first half of 2025, increasing by around $500 billion, with growth in goods, services, and South–South trade, underscoring the importance of stability for continued progress.

A forthcoming UNCTAD report will analyze the Palestinian economy, estimating the time needed for recovery to pre-war levels, highlighting the ongoing economic challenges faced by conflict-affected regions.

The four-day conference involves around 100 countries, including ministers and experts, focusing on interconnected issues like trade, finance, debt, investment, supply chains, AI, and the digital economy to promote inclusive development.

High-level discussions will explore resilient supply chains, fairer finance, productive investments, and digital inclusion, aiming to develop practical strategies for sustainable growth.

UNCTAD16 emphasizes reforming the UN and multilateral systems to better address current global challenges, with leaders advocating for trade policies that empower rather than divide, ensuring benefits for all.

Grynspan warned that policy uncertainty can be more disruptive than tariffs, impacting investment, jobs, and competitiveness, especially in developing countries, and called for more predictable economic frameworks.