Pakistan has assumed chairmanship of the Group of 77 and China for the current year.
Foreign Minister Shah Mahmood Qureshi presided over the proceedings of the opening segment of the handover ceremony held in a virtual format.
Speaking on the occasion, he said as the G-77 Chair, Pakistan will work with all member states to develop effective and concerted response to the multiple challenges confronting developing countries and also promote avenues for South-South Cooperation.
The Foreign Minister stressed the need to retain cohesion and unity in G-77's collective endeavours to promote prosperity in conditions of equity and equality.
On COVID-19 pandemic, he said the public health crisis has affected the developing countries disproportionately. He called for universal distribution of vaccine as the best response to the mutating virus.
Turning to the threat posed by climate change, the Foreign Minister emphasized that the major onus for mitigation must be assumed by the industrialized countries. He said all climate actions must adhere to the Principle of Common but Differentiated Responsibility.