S Jaishankar Calls for Bold UN and WTO Reforms at G20 Meeting in New York
On Wednesday, External Affairs Minister S Jaishankar spoke at the G20 Foreign Ministers’ Meeting in New York. He emphasized the need for urgent reforms in global governance, particularly within the United Nations (UN) and the World Trade Organization (WTO).
UN Reforms
Jaishankar highlighted that the UN has not evolved with the times and remains stuck in the past. He stressed the importance of expanding the United Nations Security Council (UNSC) to include more permanent members from Asia, Africa, and Latin America. This, he argued, would make the UN more representative and effective.
International Financial Architecture
Jaishankar also called for reforms in the international financial system. He pointed out that the current system is not equipped to handle urgent development challenges and climate change. He advocated for making Multilateral Development Banks (MDBs) more robust and expansive to address financing gaps for Sustainable Development Goals (SDGs).
WTO Reforms
On the topic of international trade, Jaishankar emphasized the need for a fair and transparent multilateral trading system. He called for comprehensive reforms in the WTO to discourage market-distorting practices and protectionism. He reiterated India’s commitment to a rules-based, non-discriminatory trading system.
Conclusion
Jaishankar concluded by stating that incremental changes are not enough and that bold, transformative actions are required. He urged the G20 to take the lead in implementing these necessary reforms.
Doubts Revealed
S Jaishankar -: S Jaishankar is India’s External Affairs Minister, which means he is responsible for managing India’s relationships with other countries.
UN -: UN stands for the United Nations, an international organization where countries come together to discuss and solve global issues like peace, security, and human rights.
WTO -: WTO stands for the World Trade Organization, which helps countries trade goods and services with each other fairly and smoothly.
G20 -: G20 is a group of 20 major economies, including India, that meet to discuss and coordinate on global economic issues.
New York -: New York is a big city in the United States where many important international meetings, like the G20, often take place.
United Nations Security Council -: The United Nations Security Council is a part of the UN that makes decisions about maintaining peace and security in the world. It has some permanent members who have special powers.
international financial system -: The international financial system is how countries manage money and trade with each other, including banks and financial rules.
World Trade Organization -: The World Trade Organization (WTO) is an international group that helps countries trade with each other by setting rules and resolving disputes.
bold, transformative actions -: Bold, transformative actions mean making big and important changes that can significantly improve how things work.
