Monthly Global Forecast | January 2023

Politics and Governance

Russia takes over the BRICS presidency on 1 January 2024

Russia will assume the BRICS presidency on 1 January 2024, a pivotal moment as the bloc expands, integrating new members such as Iran, Saudi Arabia, United Arab Emirates, Argentina, Egypt, and Ethiopia. BRICS priorities include economic partnership, innovation, a more vital role in the international financial system, and addressing issues like terrorism. Russia’s plans gain support from BRICS nations, reinforcing commitment to practical cooperation. Pakistan has applied for BRICS membership and seeks Russia’s support, according to the country’s envoy to Moscow, Muhammad Khalid Jamali. Pakistan counts on Russia’s assistance during the membership process, highlighting the strategic importance of this move for the nation. The collaboration holds promise for Pakistan’s economic and geopolitical positioning in the global arena.

Italy takes over G7 presidency January 2024

Italy will assume the G7 presidency on 1 January 2024, navigating challenges such as the Russia/Ukraine situation, managing China relations, and addressing global issues like artificial intelligence and climate. The G7’s enhanced role gains significance amid the G20’s perceived loss of status. A strong US/EU axis is emphasised in global frameworks. For Pakistan, this underscores the evolving dynamics in international relations, urging proactive engagement. Pakistan and Italy mutually desire to boost bilateral trade and investment, indicating potential collaboration in various economic sectors. The G7 presidency presents an opportunity for Pakistan to align its interests and strengthen ties in the changing global landscape.

Third South Summit of the G77 scheduled for 20 to 23 Jan 2024

The Third South Summit is scheduled for 20 to 23 January 2024 in Kampala, Uganda, focusing on the theme “Leaving No One Behind.” With 134 Member States of the Group of 77 (G-77), the summit aims to enhance South-South cooperation in trade, investment, sustainable development, climate change, poverty eradication, and the digital economy. Led by President Yoweri Kaguta Museveni, Uganda seeks to promote solidarity and unity among Southern nations. For Pakistan, active participation is vital, offering opportunities for collaboration and addressing shared challenges. The summit’s emphasis on cooperation aligns with Pakistan’s regional and global economic interests, providing a platform for strategic engagements. Pakistan’s active engagement in the Third South Summit aligns with its economic interests, offering collaboration opportunities within the G-77. As the largest Global South coalition, G-77 empowers Pakistan in global decision-making, translating political freedom into meaningful progress.

Defence and Security

NATO Military Chiefs of Defence meeting Scheduled for 17 and 18 January 2024

The NATO Military Committee will convene in Brussels from 17 to 18 January 2024. Chaired by Admiral Rob Bauer, discussions will cover the implementation of the Deterrence and Defence of the Euro-Atlantic Area (DDA) Family of Plans, defence industrial capacity, operational planning, and warfighting transformation. The agenda includes Integrated Air and Missile Defence, NATO’s military deterrence, and a NATO-Ukraine Council meeting addressing Russia’s aggression. The second day involves sessions with Partner Interoperability Advocacy Group counterparts and Indo-Pacific Partners and a meeting with NATO Secretary General Jens Stoltenberg.

Launch of “Exploring Futures for Peace, Security and Disarmament” scheduled for 22 January 2024

The United Nations Institute for Disarmament Research (UNIDIR) will launch its report, “International Security in 2045: Exploring Futures for Peace, Security and Disarmament,” on 22 January 2023. The hybrid event will take place in Geneva, Switzerland. Participants include representatives from Member States delegations, industry, civil society, academia, and intergovernmental organisations. The aim is to share and analyse predictions based on foresight regarding risks to worldwide security that are linked to arms control and disarmament. The goal is to encourage discussions before the Future Summit in September 2024, which will tackle global challenges and inadequate governance.

The Montreux Conference on Disarmament Retreat Revisited is scheduled for 24 January 2024

In Geneva, Switzerland, on 24 January 2024, UNIDIR will revisit ideas discussed at its June 2023 Montreux retreat, supported by France and Germany, which aimed to revitalise the Conference on Disarmament (CD) and its broader disarmament mechanisms. Seventy-nine participants from 60 states attended the retreat in their personal capacity. UNIDIR will recap the findings, providing a platform for states to consider follow-up actions before the CD sessions 2024. The event will also feature a technical briefing by United Nations Office for Disarmament Affairs (UNODA) on electronic tools, including the new e-deleGATE.

Trade and Economics


World Economic Forum Annual Meeting 15 to 19 January 2024

The 54th Annual Meeting of the World Economic Forum is scheduled for 15 to 19 January 2024, focusing on exploring opportunities from new technologies and their impact on decision-making and global partnerships. Held annually, this meeting convenes over 100 governments, major international organisations, multinational companies, and more, fostering public-private cooperation. The objective is to address critical global challenges and collaborate on innovative solutions. For Pakistan, participation is crucial to engage with global leaders, discuss economic opportunities, and address challenges, especially pertinent given the country’s current standing in the Global Gender Gap Report 2023, emphasising the need for inclusive development and gender equality.

7th World Islamic Economic & Finance Conference to be held from 27 to 28 January 2024

The 7th World Islamic Economic & Finance Conference (WIEFC) is scheduled for 27 to 28 January 2024, at Minhaj University Lahore, Pakistan, with Islamic Finance Singapore as the Knowledge and Media Partner. Themed “From Practice to Impact: Aligning Islamic Economics and Finance in light of Global Developments and Challenges,” the conference invites abstracts and papers to contribute valuable insights. This event aims to be a pioneering platform for discussing the intersection of Islamic economics and finance within global dynamics. Hosting such conferences can enhance Pakistan’s role in fostering collaboration and dialogue on Islamic finance and economic principles.

2024 ECOSOC Partnership Forum scheduled for 30 January 2024

The 2024 Economic and Social Council (ECOSOC) Partnership Forum is scheduled for 30 January 2024 at the United Nations Headquarters in New York. Themed “Reinforcing the 2030 Agenda and eradicating poverty in times of multiple crises,” the forum aims to exchange ideas on sustainable development, emphasising sustainable development goals (SDGs) 1, 2, 13, 16, and 17. The objective is to showcase forward-looking actions through innovative partnerships to address global challenges. Given the current economic projections, rising global inflation, and food insecurity affecting 350 million people, the forum is crucial for Pakistan. As it seeks ECOSOC membership for 2024-26, Pakistan aims to accelerate COVID-19 recovery and implement the 2030 agenda. The forum provides an opportunity for Pakistan to engage in collaborative efforts, secure support for systemic reforms, and contribute to global initiatives for sustainable development.

Social Issues

Global Health Security Summit to be held on 10 and 11 January 2024

The Ministry of National Health Services, Regulations, and Coordination plans to host the Global Health Security Summit 2024 in Islamabad on  10 and 11 January 2024. The summit, a first for Pakistan, will gather leaders, experts, and stakeholders worldwide to address challenges in the country’s health infrastructure. With a focus on disease control and eradication, the summit aligns with Pakistan’s efforts to strengthen its response to health crises and enhance international collaboration for global health security. The summit aims to formulate an integrated strategy to address global epidemics, showcasing Pakistan’s leadership in the health sector. The event will conclude with the issuance of the Islamabad Declaration.

Regional Meeting for Asia Pacific on the International Decade for People of African Descent is scheduled for 15 and 16 January 2024

The regional meeting for the International Decade for People of African Descent in the Asia Pacific region will be held on 15 and 16 January 2024 in Geneva, Switzerland. The theme is “People of African Descent, Recognition, Justice, and Development.” Participants encompass Member States, UN agencies, regional bodies, human rights institutions, civil society, experts, and academics. The objectives include raising awareness about the decade’s activities, fostering cooperation, and acknowledging the contributions of people of African descent in the region.

Energy and Environment

International Conference on Environment, Energy and Waste Management scheduled for 3 January 2024

The International Conference on Environment, Energy, and Waste Management (ICEEWM) is scheduled for 3 January 2024, in Glasgow, UK. This event aims to unite leading experts, academicians, students, and stakeholders to engage in discussions on current and future scenarios in the field. The objective is to foster meaningful conversations, explore emerging fields, establish valuable connections, and provide a platform for participants to showcase their work. Active involvement in this conference promises a rich opportunity for individuals to broaden their knowledge, share insights, and contribute to advancements in environmental, energy, and waste management topics.

Bern III Conference on Cooperation among Biodiversity-related Conventions scheduled for 23 to 25 January 2023

The Bern III Conference is scheduled for 23 to 25 January 2024 at the Universal Postal Union in Bern, Switzerland. Participants from various countries, including Co-Chairs Ms Clarisse Kehler Siebert (Sweden) and Ms Camila Isabel Zepeda Lizama (Mexico), will collaboratively identify opportunities to enhance cooperation among Parties in implementing the Kunming-Montreal Global Biodiversity Framework (GBF). The conference aims to provide recommendations for strengthening collaboration while respecting individual mandates, sharing practical experiences, and scaling up successful initiatives. The outcomes will inform relevant Multilateral Environmental Agreements (MEAs), contributing to the effective implementation of the GBF.


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