India pitches for reform in structures of global governance

United Nations: Making a case for urgent reform of structures of global governance, India has said that developing countries should be ensured due participation in the decision making mechanism of international economic and financial institutions.

“The continuance of economic vulnerabilities and new and emerging challenges with intertwined complexities of globalisation demand an urgent reform of the structures of global governance,” Minister of State for External Affairs E Ahamed said at the General Debate of the Second Committee here yesterday.

He said despite concerted efforts, the global economic situation remains one of deep concern with unemployment, food and energy concerns running high.

“It is imperative that developing countries are given due voice and participation in the decision making structures of the global economic and financial institutions,” he said.

Ahamed said that the move would also help address core concerns of the Least Developed Countries, Landlocked Developing Countries, Small Island Developing States and countries in Africa on debt sustainability, financial assistance, trade and development.

He also reiterated the need for urgent reform of the UN Security Council, including expansion of the permanent and non-permanent categories and revitalisation of the General Assembly.

He said the task before the Second Committee, which focuses on area of global finances and economics, is well laid out.

The key outcomes from the RIO+20 Summit on sustainable development goals, financing strategy and technology mechanism need to be pursued and implemented in a time bound manner.

“Achievement of the millennium aspirations must receive our highest priority and not slip even as we start working on the post-2015 development agenda,” Ahamed said adding that given that more than a billion people worldwide continue to live in extreme poverty and hunger, the post-2015 development agenda must be weaved around the absolute imperative of poverty eradication.

While there is talk of bringing new issues including peace and security in the development framework, Ahamed said they should not be mixed with core development challenges as that would severely undermine efforts at achieving sustainable development.

Mobilisation of resources, technology transfer, trade and FDI must be brought to the centre of the development debate, he added.

With the 11th Conference of Parties of the Convention on Biological Diversity currently underway in India, Ahamed urged all parties to work for a strong development oriented outcome and for early implementation of the Nagoya Protocol to ensure equitable sharing of the benefits of biodiversity.

Terming climate Change as one of the most pressing challenges of current times, he said India looks forward to a comprehensive, equitable and balanced outcome at the upcoming 18th Conference of Parties of the United Nations Framework Convention on Climate Change (UNFCCC) at Doha.

Ahamed said the principles, provisions and the structure of the UNFCCC must be respected and form the basis of any international cooperation on climate change.