New York/New Delhi: External Affairs Minister S. Jaishankar highlighted India’s views on reform of the UN and its subsidiary bodies; reform of the International Financial Architecture and reform of the Multilateral Trading System, in his address at the Second G20 Foreign Ministers’ Meeting of the Brazilian Presidency in New York on Wednesday.
The meeting was chaired by President of Brazil Lula da Silva and attended by President of South Africa Cyril Ramaphosa, President of the General Assembly Philémon Yang and UN Secretary-General António Guterres.
In a post on X, the EAM said:
“Spoke at the G20 Foreign Ministers’ Meeting in New York today on the theme ‘Global Governance Reforms’.
*Highlighted the urgency of UN reforms to ensure representative, credible and effective multilateralism. Includes expansion of UNSC in both categories.
*Noted the imperative of robust, expansive and effective international financial architecture. Spoke about India’s efforts at G20 to reform MDBs to meet aspirations of the developing world.
*Underlined the challenges of protectionism and market-distorting practices to the international trading system.
*Called for comprehensive reforms of WTO to ensure a rules-based, non-discriminatory and a fair multilateral trading system.”
EAM recalled that significant strides were made during India’s G20 Presidency wherein the Leaders had called for expanding development and climate finance and had encouraged MDBs to refine their vision, incentive structures, operational approaches and financial capacities, to maximize their developmental impact, a statement said.
The Brazilian Presidency’s 2024 G20 Roadmap for better, bigger, and more effective MDBs, builds on the New Delhi mandate and the recommendations of the 2023 G20 Independent Expert Group on Strengthening MDBs.
A Call to Action on Global Governance Reform was endorsed by the Foreign Ministers at the meeting, it added.
