"Prisoners of the past..." EAM Jaishankar's blunt message to UN at G20 2nd Foreign Ministers Meeting

Summary

The 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.