“We are witnessing a transformative change in multilateral trade and the decisions we make during UNCTAD 16 will affect the future of policies and debates on global trade and development,” Rebeca Grynspan, secretary general of the agency, said Monday in the Swiss city.
Trade outlook and predictability
Grynspan warned that policy changes and uncertainty “can be more disruptive than tariffs,” diverting investment, eliminating jobs and depleting competitiveness, particularly in developing countries. He said restoring confidence and stability is “critical” for smaller economies to plan and invest.
Despite geopolitical tensions, it reported resilience in the first half of 2025. Global trade expanded by approximately $500 billion, with the value of goods increasing by 5 percent, services by 6 percent, and South-South trade (excluding China) by 9 percent. He credited developing countries for supporting second-quarter performance, while warning that predictability must be rebuilt for trade to continue driving growth and investment.
Investment that serves people
In terms of finance, the UN official highlighted the growing human cost, noting that “3.4 billion people in the world live in countries that spend more on debt service than on health and education.”
He called for a fairer, more predictable and accessible financial system, pointing to follow-up to July’s Financing for Development Conference, including work to boost affordable long-term capital and a borrowers’ club to strengthen countries’ debt management and negotiation capabilities.
Regarding investment flows, Ms Grynspan noted that foreign direct investment in developing countries is declining and is too often concentrated in traditional sectors and geographies.
“The goal is not just to attract investment, but to attract the right type of investment,” he explained, citing priorities such as sustainable infrastructure, green energy, health, education, water and sanitation, agriculture and digital capabilities that create long-term value.
He added that digital commerce and data flows currently underpin more than 60 percent of global GDP growth, while market concentration in cloud and generative AI poses inclusion risks that policies must address.
Regarding the Occupied Palestinian Territories (OPT), Grynspan stated that UNCTAD will present its new report to its board of directors in November, reiterating that the organization estimates the time necessary for the Palestinian economy to return to the pre-war scenario and not the reconstruction costs, which fall on other agencies.
Conference outline
UNCTAD 16 will bring together around 100 countries, including some 60 ministers and 40 deputy ministers, with 1,700 registered participants, seven ministerial round tables and forums on youth, gender, civil society and business.
The UN Secretary-General is expected to give a special address later in the week. Discussions will cover trade, development finance, debt, investment, regional trade, supply chains and technology, including artificial intelligence and the inclusive digital economy.
Ms Grynspan highlighted that trade, finance, investment and technology are “four pillars of development” and must be addressed together to make the global economy work for everyone, “especially those who are the most vulnerable”.