28 Sep 2012
The Global Governance Group (3G) [1] held its Fifth Ministerial Meeting in New York on 28 September 2012, on the sidelines of the 67th United Nations General Assembly. The Ministers welcomed Luxembourg as the latest member to join the 3G. As part of its efforts to promote a more effective, accountable and inclusive framework of global governance, the 3G had a constructive dialogue with the President of the 67th United Nations General Assembly, H.E. Vuk Jeremić, as well as the past and present Chairs of the G-20 - France and Mexico - during the meeting.
The 3G Ministers had a fruitful exchange with the G-20 members on the outcomes of the G-20 Summit in Los Cabos. They welcomed the G-20’s commitment to coordinate their policies to stimulate global demand and restore confidence. The 3G Ministers agreed that more international cooperation was needed to overcome fiscal and financial imbalances. They urged the G-20 members to support financial inclusion and help in building an integrated and resilient global financial system.
Taking note of the uncertain global economic climate, the 3G Ministers expressed support for greater international coordination of economic policies to reduce unemployment, build confidence and stimulate growth. The Ministers called on the G-20 and other relevant stakeholders to continue to help developing countries achieve sustainable growth through measures such as poverty eradication, promotion of green growth and the fight against climate change.
The 3G Ministers recognised the importance of an open, rules-based and transparent multilateral trading system in supporting a global economic recovery. In this regard, they welcomed the G-20’s reaffirmation of the centrality of the World Trade Organisation in global trade. The Ministers reiterated their call for G-20 members to push for a swift conclusion of the Doha Round negotiations.
The Ministers took stock of the efforts of the 3G to promote an effective, accountable and inclusive framework of global governance. They urged the G-20 to strengthen its engagement of non-members as well as regional and international organisations, in particular the United Nations. The Ministers reiterated the role of the United Nations as the only global body with universal participation and unquestioned legitimacy, and stressed that the actions and decisions of the G-20 should complement and strengthen the United Nations system. The Minister also called on the G-20 to go beyond consultations with non-G20 members, groupings like 3G and relevant stakeholders, and find ways to incorporate their inputs into G-20 outcomes. The Ministers expressed their appreciation for Mexico’s engagement of the 3G during its G-20 chairmanship this year.
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[1] The 3G comprises the following Member States of the United Nations: Bahamas, the Kingdom of Bahrain, Barbados, Botswana, Brunei Darussalam, Chile, Costa Rica, the Republic of Finland, Guatemala, Jamaica, Kuwait, the Principality of Liechtenstein, the Grand Duchy of Luxembourg, Malaysia, the Principality of Monaco, Montenegro, New Zealand, Panama, Peru, the Republic of the Philippines, the State of Qatar, the Republic of Rwanda, the Republic of San Marino, the Republic of Senegal, the Republic of Singapore, Republic of Slovenia, Switzerland, the United Arab Emirates, Uruguay and the Socialist Republic of Viet Nam.
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