At the “Forum on Financing for Development 2024″ organised by the United Nations Economic and Social Council (ECOSOC), in New York, on April 22-25, 2024, Greece was represented by the Secretary General for International Economic Affairs of the Ministry of Foreign Affairs and President of Enterprise Greece, Ms. Myra Myrogianni.
The Greek intervention at the Forum focused on the crucial role of international trade in promoting sustainable development. It underscored that a reversal of trade integration and decline in trade growth could jeopardise prosperity and economic growth for both developing and developed countries, leading to unequal distribution of resources and productivity losses worldwide.
Given that international trade relies on comparative advantage, targeted technical assistance is necessary for countries in the Global South to diversify their products and expand their services. A significant positive impact in this direction would come from the increase in low-cost financing, especially to small and medium-sized enterprises, which form the backbone of many economies in the Global South. Additionally, the reform of the Multilateral Development Banks (MDBs) can promote a fairer distribution of trade benefits between countries.