Geneva Pact Mandates Digital Aid, LDC Graduation
Full Consensus on Services, Sustainable FD
UNCTAD Launches Borrowers’ Forum, Sevilla Debt Hub
Geneva: In a unanimous decision, all 195 United Nations Trade and Development member states adopted the Geneva Consensus for a Just and Sustainable Economic Order at the close of the organisation’s 16th conference (UNCTAD16) in Geneva on 23 October 2025. This landmark declaration reaffirms UNCTAD’s leadership in multilateral trade and development cooperation while delivering a precise, forward-looking mandate on trade, investment, digital transformation, debt restructuring, and support for the most vulnerable economies.
Reached after four days of negotiations involving a record 170 national delegations—the highest in UNCTAD’s 60-year history—the consensus commits countries to a rules-based, open, transparent, and equitable multilateral trading system, with trade in services now positioned as the critical new frontier for development. It confronts the global decline and uneven spread of investment by endorsing investment facilitation measures, policy frameworks that lower the cost of capital, and support to domestic and international ecosystems that can multiply foreign investment.
The digital economy receives focused attention: technological advances are creating opportunities and divides, and member states tasked UNCTAD with equipping developing countries with essential skills, infrastructure, and frameworks to harness the digital economy. On debt and financing for development, building on the 4th International Conference on Financing for Development (FFD4), nations established the Borrowers’ Forum—a new space for developing countries to build collective capacity, share experiences, and strengthen their voice in global debt discussions.
Least developed countries (LDCs) will benefit from a dedicated graduation support programme. Small island developing states facing climate disasters and soaring transport costs will receive tailored support. Landlocked developing countries gain continued work on trade facilitation and transit corridors. Additionally, during UNCTAD16, the launch of the Sevilla Forum on Debt was announced—a breakthrough platform to open the dialogue to support developing countries to tackle sovereign debt.
UN Secretary-General António Guterres praised UNCTAD’s vital work helping developing countries harness trade and development to drive their economies. New partnerships and funding pledges were announced to advance action on debt relief, the digital economy, investment and supply chain resilience, proving that multilateralism remains alive, relevant and capable of delivering results.
The conference took place against a complex global backdrop, as the agreed document underlines a context of subdued economic growth, persistent inequalities within and among countries. Economies, particularly the most vulnerable, struggle with compounding challenges, including increasing challenges to trade, limited fiscal space, weak investment levels, unsustainable debt burdens, digital divides and fragile productive capacities. Yet the 195 UNCTAD member states demonstrated renewed unity and purpose.
Themed “Shaping the future: Driving economic transformation for equitable, inclusive and sustainable development”, UNCTAD16 renewed multilateral efforts to place development back at the heart of the global economic debate. Over four days, more than 170 national delegations, 80 ministers and vice ministers of trade and economy from all regions gathered in Geneva. This is historically the highest participation of member states in a UNCTAD conference. Across more than 40 high-level sessions and 24 expert panels, participants examined practical pathways to strengthen trade, finance, productive capacities, commodities, the Global System of Trade Preferences, finance and debt, artificial intelligence, the digital economy, investment, supply chains and regionalism. Additionally, there were meetings of ministers of the Group of 77 and China, Africa, least developed countries (LDCs), small island developing states and landlocked developing countries.
Secretary-General Rebeca Grynspan underlined that this is a conference of renewal – renewal of UNCTAD’s mandate, renewal of commitment, renewal of shared purpose. The Geneva Consensus charts UNCTAD’s path forward with strong support for the organisation as well as concrete mandates that lay out a clear and actionable roadmap for the organisation in the years ahead.
During the course of UNCTAD16, participating countries agreed to support key UNCTAD work for the coming year, such as: Trade and supply chains: The Kingdom of Saudi Arabia confirmed it will host the 2nd UN Global Supply Chain Forum in November 2026, in partnership with the Saudi Ports Authority (MAWANI). UNCTAD leads this new initiative to make global supply chains more resilient, efficient and sustainable by addressing issues such as critical infrastructure, digital trade systems, financing for small businesses and workforce training. Digital economy: The Government of Switzerland announced new funding of 4 million Swiss francs to bolster UNCTAD’s work on e-commerce and the digital economy for developing economies. Also, UNCTAD signed an agreement with the Digital Cooperation Organisation to work on digital economy data and measurement, and on empowering women in the digital economy and providing support to startups and small and medium-sized enterprises. Investment: Qatar confirmed it will host the 9th World Investment Forum (WIF) in 2026. The flagship UN platform will scale solutions and partnerships to power sustainable investment globally, ensuring that finance fosters inclusive growth and shared prosperity.
At the closing of the conference, Secretary-General Grynspan welcomed the agreement reached in the Geneva Consensus and underlined the political significance of the agreement, saying: This is what multilateralism looks like – not perfect, not easy, but possible. Always possible.
– global bihari bureau
