Both parties highlighted the South American country's efforts to seek outcomes that represent the 134 member countries of the group of developing and least developed nations known as G77+China.
Likewise, UNCTAD confirmed the continuation of the cooperation it provides in Peru in the areas of digital trade, women's empowerment, and sustainable environmental development.
The G77 (Group of 77) is an intergovernmental organization that brings together most developing countries from the Global South.
It was created at the conclusion of the United Nations Conference on Trade and Development (UNCTAD) in 1964 to promote the collective economic interests of the 77 founding members.
It is currently made up of 134 countries.
G77 countries range from Latin America and the Caribbean to Africa and Asia-Pacific, from least developed countries to small island developing states, which are often the most affected by the impacts of climate change.
Although China is not a formal member of the G77, it does provide political and financial support to the group.