Thank you to for the invitation to be here today.

First, I want to congratulate UN Trade and Development (UNCTAD) for six decades of exceptional work putting people – particularly those in developing countries - first. The last 60 years have seen extraordinary leaps in the pace of globalization and the growth of international trade. UNCTAD has consistently pledged to endure people benefit fairly and equally from the advantages of development, while also preventing them from being harmed by its challenges.

Your work is especially crucial in today’s reality, at a time when humanity is facing monumental, colliding challenges.

Rising conflicts. Pushbacks on women’s rights. The existential threat of climate change. The risks of unregulated digital technologies. Skyrocketing poverty.

To name just a few.

We stand to achieve just 15% of the Sustainable Development Goals, if we continue at today’s snail pace of action.

Countries, especially developing countries, are being strangled by debt, unable to meet high borrowing costs.

And people are paying the ultimate price.

We live in a world where almost half of humanity – some 3.3 billion people - live in countries where governments spend more on servicing their debts, rather than investing in health and education systems for their people.

Where extreme and obscene wealth is nestled in the hands of the few.

And where climate action is being put on the backburner at the detriment of our very existence.

Last year, as we marked the 75th anniversary of the Universal Declaration of Human Rights, we were reminded of the glimmers of hope. We saw an extraordinary display of dedication to the human rights cause from States, from the private sector, from civil society.

We heard calls for fundamental change from States for a better, safer future for our human family. For action to heal our fractured economies and societies.

And to urgently change course towards a fairer distribution of the benefits of development, in order to overcome the worst impacts of the crises we face.

Colleagues,

I want to focus today on the mutually beneficial interlinkages between trade, development and human rights.

The right to development lies at the heart of both my Office’s mandate and UNCTAD’s mission and values.

It is one of the keys to unlock wide-reaching, powerful solutions to crisis. At its core, the right to development means equal opportunities for everyone, including marginalised people and communities, actively to participate in and contribute to development. It also means the equitable distribution of its benefits.

The right to development demands us to push back on exploitation, exclusion and discrimination.

It aims at the constant improvement of the well-being of all people, everywhere.

In short, the right to development helps us reach global economic justice.

Nobel laureate Amartya Sen said that development is the “removal of various types of unfreedoms that leave people with little choice and little opportunity of exercising their reasoned agency.”

The Sustainable Development Agenda - this century’s bold roadmap for progress – was built with the imperative to advance freedom through development.

In the context of today’s discussion, the 2030 Agenda recognizes international trade as an engine for inclusive economic growth and sustainable development.

The human rights benefits of trade are abundantly clear. With economic growth and good governance comes improved living standards and reduced poverty. Food, medicine and technology become far more accessible to far more people. Many international trade agreements include provisions on labour rights, such as prohibiting child labour or forced labour. Trade has also propelled gender equality in many instances, for example, by driving investment in women's education and skills development, enhancing their economic capacity and resilience.

This is progress to be celebrated.

The shadow side of trade is, however, also evident:

Labour rights violations. In a race to the bottom, countries compete by lowering wages, weakening labour protections or allowing poor working conditions.

The plethora of human rights abuses in global supply chains – from child or forced labour in the fast fashion industries, in electronics, in agriculture.

And the devastating environmental impact – deforestation, pollution and the destruction of habitats caused by unregulated businesses operations, which profoundly affects the rights of marginalised communities, indigenous communities and future generations.

The solution to these challenges lies in a human rights-based approach to trade, that is comprehensive and that centres on human dignity.

Critical to this approach is the monitoring of the impacts of trade rules and policies on human rights, including through human rights impact assessments. This provides data and evidence to guide States and other stakeholders identify how to better fulfil their human rights obligations.

My Office is working closely with UNCTAD on ensuring human rights approaches shore up every aspect of trade.

Our joint efforts, for example, in the context of the Agreement Establishing the African Continental Free Trade Area (AfCTA) have helped raise awareness among decision makers on the important contribution to development by women and youth informal cross-border traders in Africa. This has paved the way to the adoption of regional polices on women and youth in trade, and ensures that business entities fulfil their human rights obligations.

The principles of a human rights approach to trade are very similar to those embodied in the human right to development.

That the benefits of trade are fairly distributed.

That people in vulnerable situations do not suffer its negative impacts, but are instead empowered to benefit from the development resulting from trade.

That they freely, actively and meaningfully participate and contribute to the decisions on trade that affect them.

A human rights approach to trade also means businesses respect human rights.

That victims of trade’s negative consequences, when they occur, receive appropriate remedy.

And all countries work together to ensure that poorer countries benefit from trade processes. 

It is encouraging to see the increased recognition from States and business that trade needs to be centred on people’s development,  alongside respect for our planet. But the work cannot stop there: much more needs to be done to place human rights at the centre of all aspects of sustainable development, including trade.

Dear colleagues,

Last year, my Office launched the concept of a Human Rights Economy.

It is a concept underpinned by one clear fact: economic growth alone will not redress structural inequalities.

Its premise is the need for a profound shift that anchors economic policy in human rights, and actually delivers on equality and non-discrimination.

A human rights economy upholds the inherent dignity and worth of every person, everywhere.

It breaks through the artificial division of civil and political rights versus economic, social and cultural rights, and the right to development, emphasising they are inherently interconnected.

Fundamentally recognising that all human rights are obligations, not aspirations.

By grounding their economic policies and laws in human rights, countries are then able to build economies that are more fair and more equal, where businesses live up to their human rights obligations, and where investment in public goods and services is a priority not an afterthought.

Countries with human rights economies have more progressive tax policies. They actively fight corruption and its fallout. And they take the environmental action needed to help prevent our world plummeting even deeper into climate catastrophe.

Achieving a successful transition to a Human Rights Economy will require a fundamental reset to our outdated and unjust international financial architecture.

As the global community undertakes this overhaul, infusing the values and protections provided by human rights will be critical.

Earlier this year, I outlined six points of actions that could guide this.

A massive injection of financial resources to get the Sustainable Development Goals (SDGs) back on track.

Urgent reforms of the governance of international financial institutions, including the World Bank and the International Monetary Fund.

Addressing debt distress.

Updating the principles of responsible borrowing and lending, including by private creditors, to better reflect human rights.

A redesign of the global tax architecture to make it fairer and more inclusive.

And a reform of global tax rules that will increase the resources governments can mobilize domestically.

Colleagues,

As you move into today’s next session on Shaping a Digital Future, I also encourage you to keep the human rights framework central to your discussions. Digital advances are unrolling at an unprecedented pace. With them, they bring extraordinary opportunity but also massive risks. Ensuring human rights are at the core of digital progress, innovation and governance will be crucial to a healthier and safer digital future. The Global Digital Compact is our next collective opportunity to make this happen.

The human rights framework exists already. It provides an essential foundation to address so many of the pressing challenges humanity faces today. It provides proven, effective solutions. It builds a more equal, more hopeful future.

My Office and I look forward to working with you to put it into action.

Thank you.