"Prisoners of the past..." EAM Jaishankar's blunt message to UN at G20 2nd Foreign Ministers Meeting
Summary
TLDRThe speaker calls for urgent reforms in global governance, highlighting the need to modernize the UN and address underrepresentation in the Security Council. They emphasize the importance of transforming international financial institutions to tackle development and climate challenges, withMDBs playing a key role. Lastly, they advocate for a fair, inclusive WTO-led multilateral trading system and comprehensive WTO reform for a more equitable global future.
Takeaways
- 🌐 The world has become more interconnected and multipolar, with a significant increase in UN members.
- 🔒 The UN is seen as stuck in the past, which affects the Security Council's ability to maintain global peace and stability.
- 🗣️ There is a call for increased representation for Asia, Africa, and Latin America in the UN to ensure a legitimate voice for the global South.
- 💼 The G20 has emphasized the need to expand development and climate finance significantly.
- 🏦 International financial institutions must adapt to address persistent development challenges and climate change.
- 💵 MDBs (Multilateral Development Banks) are urged to enhance their capacity to meet the financing gaps for sustainable development goals (SDGs).
- 🌱 India's G20 presidency focused on making MDBs more robust, expansive, and effective.
- 🛑 India is committed to a fair, open, inclusive, and transparent multilateral trading system with the WTO at its core.
- 🚫 Market distorting practices and protectionism must be discouraged to foster a favorable trade and investment environment.
- 🌟 Comprehensive reform of the WTO is necessary for a fully operational and effective dispute settlement system accessible by all members.
Q & A
What is the main issue with the current United Nations (UN) structure according to the script?
-The main issue is that the UN remains a prisoner of the past, with its membership having increased fourfold since its inception, yet the UN Security Council struggles to maintain international peace and stability, undermining its effectiveness and credibility.
Which regions are mentioned as being underrepresented in the UN?
-Asia, Africa, and Latin America, collectively referred to as the global South, are mentioned as being underrepresented and needing a legitimate voice in the UN.
What is the call to action for the UN Security Council?
-The call to action is to reform the UN and its subsidiary bodies, including expansion in both categories of UN membership, particularly in the permanent category, to ensure proper representation and effectiveness.
What did the G20 leaders encourage the Multilateral Development Banks (MDBs) to do?
-The G20 leaders encouraged MDBs to refine their vision, incentive structures, operational approaches, and financial capacities to maximize their development impact and to expand development and climate finance from billions to trillions.
What is the estimated financing gap for Sustainable Development Goals (SDGs)?
-The financing and investment gaps for SDGs are estimated to be up to $4 trillion annually, which need to be addressed urgently.
What is India's stance on the multilateral trading system?
-India is committed to a rules-based, non-discriminatory, fair, open, inclusive, equitable, and transparent multilateral trading system with the World Trade Organization (WTO) at its core.
What does India support in terms of policies to foster trade and investment?
-India supports policies that foster trade and investment, enabling every nation to flourish in an interconnected and dynamic world while ensuring a truly level playing field and fair competition.
What is India's call to action for the WTO?
-India calls for a comprehensive reform of the WTO to enhance its functions through an inclusive, member-driven, and transparent process, and to realize a fully operational and effective dispute settlement mechanism accessible by all members.
What is the significance of the 2024 G20 road map mentioned in the script?
-The 2024 G20 road map is significant as it builds on the New Delhi mandate and the recommendations of the 2023 G20 independent expert group on strengthening MDBs, aiming for better, bigger, and more effective MDBs.
What does the script suggest is needed to break the stasis in global governance?
-The script suggests that breaking the stasis requires more than incremental changes; it demands bold, transformative action.
What role does the script assign to the G20 in global governance reform?
-The script assigns the G20 a leading role in driving global governance reform, with the world looking to the G20 for bold transformative action.
Outlines
🌍 UN Reform and Global Governance
The paragraph discusses the need for reform in the United Nations (UN) and its subsidiary bodies, highlighting that despite the world's evolution into a smart, interconnected, and multipolar arena with a fourfold increase in UN members since its inception, the UN remains stuck in the past. This outdated structure leads to the UN Security Council's struggle to maintain international peace and stability, undermining its effectiveness and credibility. The paragraph emphasizes the necessity for Asia, Africa, and Latin America to have a legitimate voice in global governance. It also touches on the G20's call for expanding development and climate finance, urging Multilateral Development Banks (MDBs) to refine their vision, incentive structures, operational approaches, and financial capacities to maximize their development impact. India's commitment to a fair, open, inclusive, equitable, and transparent multilateral trading system with the World Trade Organization (WTO) at its core is also mentioned, stressing the importance of a reformed and fair multilateral trading system for a more equitable and inclusive future.
📈 Reforming International Financial Architecture and WTO
This paragraph focuses on the reform of the international financial architecture, emphasizing the need for Bretton Woods institutions to address persistent development challenges and pressing climate change issues. It points out that neither the MDBs nor the orthodox global financial system were designed to handle these challenges, and there is an urgent need to address the financing and investment gaps for Sustainable Development Goals (SDGs), estimated at up to $4 trillion annually. The paragraph acknowledges the progress made during India's G20 presidency and the continuation of this momentum under Brazil's presidency, with the 2024 G20 roadmap aiming for better, bigger, and more effective MDBs. Lastly, it calls for comprehensive reform of the WTO to enhance its functions through an inclusive, member-driven, and transparent process, ensuring a level playing field and fair competition by discouraging market distorting practices and protectionism.
Mindmap
Keywords
💡Interconnected
💡Multipolar
💡UN Reform
💡Global South
💡International Financial Architecture
💡MDBs
💡SDGs
💡Multilateral Trading System
💡WTO
💡Dispute Settlement Mechanism
💡Equitable and Inclusive
Highlights
The world has evolved into a smart, interconnected, and multipolar arena.
The UN's membership has increased fourfold since its inception.
The UN Security Council struggles to maintain international peace and stability.
Asia, Africa, and Latin America are underrepresented in the UN.
G20 leaders call for expanding development and climate finance from billions to trillions.
MDBs are encouraged to refine their vision, incentive structures, and operational approaches.
India is committed to a rules-based, non-discriminatory, fair, open, inclusive, equitable, and transparent multilateral trading system.
A reformed and fair multilateral trading system is vital for a more equitable and inclusive future.
Reform of the UN and its subsidiary bodies is necessary due to the world's evolution.
Expansion in both categories of UN membership is required for effectiveness.
The global South must be given a legitimate voice in the UN.
Reform of the International Financial architecture is needed to address persistent development challenges and climate change.
MDBs must be made more robust, expansive, and effective to address financing and investment gaps for SDGs.
India's G20 presidency made significant strides in reforming MDBs.
Reform of the multilateral trading system is essential with the WTO at its core.
India supports policies that foster trade and investment for every nation to flourish.
Market distorting practices and protectionism must be discouraged for a fair trade and investment environment.
Comprehensive reform of the WTO is needed for an inclusive, member-driven, and transparent process.
A fully operational and effective dispute settlement mechanism is crucial for the WTO.
Breaking the stasis in global governance requires bold, transformative action.
Transcripts
the world has evolved into a smart
interconnected and multipolar Arena its
members have increased fourfold since
un's Inception yet the UN remains a
prisoner of the past as a result the UN
Security Council struggles to fulfill
its Mandate of maintaining International
peace and stability undermining its
Effectiveness and credibility Asia
Africa and Latin America the global
South cannot continue to be short
changed they must be given the
legitimate voice G20 leaders had called
for expanding development in climate
Finance from billions to trillions they
had encouraged mdbs to refine their
Vision incentive structures operational
approaches and financial capacities to
maximize their development impact India
remains unwavering in its commitment to
a rules-based
non-discriminatory fair open inclusive
Equitable and transparent multilateral
trading system with the WTO at its core
a reformed and fair multilateral trading
system is vital for our future to be
more Equitable and inclusive
excellencies dear colleagues allow me to
present India's views on the three key
areas of global governance reform first
is the reform of the UN and its
subsidiary
bodies the world has evolved into a
smart interconnected and multi-polar
Arena and its members have increased
fourfold since un's
Inception yet the UN remains a prisoner
of the
past as a result the UN Security Council
struggles to fulfill its Mandate of
maintaining intern National peace and
stability undermining its Effectiveness
and
credibility without reforms including
expansion in both categories of UNC
membership its lack of Effectiveness
will only
continue expansion and proper
representation in the permanent category
is a particular
imperative Asia Africa and Latin America
the global South
cannot continue to be short
changed they must be given the
legitimate
voice real change needs to happen and
happen
fast the second issue is the reform of
the International Financial
architecture the bretan buds
institutions have to now focus on urgent
issues dictated by persistent
development challenges and pressing
climate change
neither the mdbs nor the Orthodox Global
Financial system were designed to handle
them financing and investment gaps for
sdgs estimated at up to $4 trillion
annually need to be addressed
urgently as key anchors of the global
development financing landscape mdbs
must be made more robust expansive and
effective significant stripes were made
with your Collective support during
India's G20 presidency in this regard
G20 leaders had called for expanding
development in climate Finance from
billions to
trillions they had encouraged mdbs to
refine their Vision incentive structures
operational approaches and financial
capacities to maximize their development
impact Brazil's presidency as we all
appreciate has continued that momentum
the 2024 G20 road map for better bigger
and more effective
mdbs bills on the New Delhi mandate and
the recommendations of the 2023 G20
independent expert group on
strengthening
mdbs the third issue is reform of the
multilateral trading system India
remains unwavering in its commitment to
a rules-based nonis discriminatory Fair
open inclusive Equitable and transparent
multilateral trading system with the WTO
at its core we strongly support policies
that Foster trade and investment
enabling Every Nation to flourish in an
interconnected and dynamic world to
foster a favorable trade and investment
environment we must ensure a truly Level
Playing Field and fair comp competition
Market distorting practices and
protectionism must be firmly
discouraged India calls for
comprehensive reform of the WTO to
enhance its functions through an
inclusive member-driven and transparent
process it remains committed to
constructive discussions for realizing a
fully operational and effective dispute
settlement
mechanism dispute settlement system
accessible by all members a reform and
fair multilateral trading system is
vital for our future to be more
Equitable and inclusive colleagues
breaking the stasis requires more than
incremental changes it demands bold
transformative action the world looks to
the G20 in that regard
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