DINAR REVALUATION REPORT: Iraq Takes the Helm: Elected to Chair the Group of 77 and China at the United Nations, 31 AUGUST

 Iraq Takes the Helm: Elected to Chair the Group of 77 and China at the United Nations

In a significant development, Iraq has been elected to chair the Group of 77 and China (G77) at the United Nations for the year 2025. This announcement was made by the Ministry of Foreign Affairs on Saturday, August 31, 2024. The Group of 77 and China is a coalition of developing countries that aims to promote collective economic interests and enhance cooperation among its member states.

Background and Significance

The Group of 77 and China was established in 1964, with the signing of the "Joint Declaration of the Seventy-Seven Countries" at the United Nations Conference on Trade and Development (UNCTAD) in Geneva. The group's primary objective is to articulate and promote the collective economic interests of its member countries, as well as to enhance their negotiating capacity within the United Nations.

Iraq's election to chair the G77 is a testament to the country's growing influence and commitment to international cooperation. As the chair, Iraq will play a crucial role in shaping the group's agenda and policies, and in promoting the interests of its member states.

Key Responsibilities and Challenges

As the chair of the G77, Iraq will be responsible for:

• Leading the group's negotiations: Iraq will lead the G77's negotiations with other countries and international organizations, including the United Nations, the World Trade Organization, and the International Monetary Fund.
• Setting the group's agenda: Iraq will play a key role in setting the G77's agenda, including identifying key issues and priorities for the group.
• Promoting cooperation and solidarity: Iraq will work to promote cooperation and solidarity among the G77's member states, including through the organization of meetings, conferences, and other events.

Iraq will also face several challenges in its role as chair, including:

• Managing diverse interests: The G77 is a diverse group of countries with different economic, social, and cultural backgrounds. Iraq will need to manage these diverse interests and find common ground among the group's member states.
• Addressing global challenges: The G77 will need to address several global challenges, including climate change, poverty, and inequality. Iraq will need to work with other countries and international organizations to find solutions to these challenges.

Conclusion

Iraq's election to chair the Group of 77 and China is a significant development that reflects the country's growing influence and commitment to international cooperation. As the chair, Iraq will play a crucial role in shaping the group's agenda and policies, and in promoting the interests of its member states.