Press Statement by the Global Governance Group (3G) on the outcomes of the G-20 Summit in Cannes, 3-4 November 2011

1. The Global Governance Group (3G)[1] takes note of the outcomes of the G-20 Summit held in Cannes, France. Decisive action on the part of all countries as well as regional and international organizations is needed in order to ensure the continued stability of the international economic system, including financial markets, which underpin and support economic activity; otherwise, we place at risk global economic growth and employment.

2. We welcome the steps taken by the G-20 towards greater inclusiveness and transparency, including the informal meetings held to brief the United Nations (UN) General Assembly on the Cannes Summit. We are also encouraged by the strong emphasis on effective engagement with non-members, regional and international organizations in the Cannes Summit Final Declaration. We welcome the G-20's commitment to cooperate with international organizations and reiterate our call to make interactions between the G-20 and international organizations more transparent and to strengthen the formal governance arrangements already in place.

3. Concerning the outcomes of the Cannes Summit, we welcome the resolve and commitment demonstrated by the G-20 to coordinate their actions and policies to stem the loss of confidence within the financial markets and to reinvigorate economic growth. The Cannes Action Plan for Growth and Jobs presents a comprehensive set of actions, which will hopefully deliver progress in addressing short-term vulnerabilities and strengthening medium-term foundations for growth.

4. The 3G notes the G-20's efforts in reforming the international monetary system to make it more representative, stable and resilient. In this regard, we welcome the commitment made at the Cannes Summit to actions and principles that will help reap the benefits from financial integration, while increasing resilience against volatile capital flows. We are encouraged by the G-20's commitment to ensure that the International Monetary Fund has the necessary resources to fulfil its role within the global financial system. We also note the G-20's deliberations on the exchange of information on tax matters and acknowledge that the Organization for Economic Co-operation and Development (OECD) Global Forum has been asked to contribute to the deliberations. At the same time, the 3G reiterates the need for multilateral standard-setting initiatives, which directly impact non-G-20 countries, to take place within inclusive and transparent formats, including the UN. The 3G looks forward to working closely with the G-20 and other partners in engaging on these issues in the relevant multilateral and regional fora.

5. The 3G welcomes the commitment by the G-20 to avoid protectionism and strengthen the multilateral trading system. We commend the G-20 for recognising the importance of the Doha Development Agenda and the need for fresh and credible approaches to advance it. It is also imperative that we strengthen the role of the World Trade Organisation, which plays a critical role in creating an effective rules-based trading system. Collectively, such measures will reinforce the role of trade as the engine for growth and development, and in facilitating long-term solutions to food security.

6. We support the G-20's continued efforts to tackle the challenges of development, its commitment to meet the Millennium Development Goals and its efforts, in particular, to support investments in agriculture and mitigate the impact of price volatility. We encourage the G-20 to work in close collaboration with the UN, the World Bank as well as other relevant development agencies in promoting solutions to these challenges.

7. The 3G commends the G-20 for the report of UK Prime Minister David Cameron on global governance. In particular, we welcome the G-20 Leaders' commitment to pursue "consistent and effective" engagement with non-members and for the G-20 to accept contributions from non-members, international institutions and others, when appropriate. We also appreciate the report taking into account the views of the 3G, including our recommendation that the G-20 should "ensure that when it commissions work from international institutions, it does so in a transparent manner, allowing these requests to be considered within their governance structures, and respecting these bodies' own decision-making processes". [2] The 3G further welcomes the G-20's intention to regularise the practice of briefings and consultations with the UN membership.

8. The 3G appreciates France's chairmanship of the G-20 in 2011 and looks forward to working closely with the Mexican chair in 2012. The 3G looks forward to the G-20 fulfilling its commitment to consistent and effective engagement with non-members, including the UN. In this regard, the 3G reiterates its position that the UN is the only global body with universal participation and unquestioned legitimacy. G-20 processes should recognize and reflect this reality. The G20's actions and decisions should complement and strengthen the UN system. We urge future hosts of the G-20 Summits to continue the practice of applying the principle of "variable geometry" to reflect the views and inputs of non-member countries, which in turn would build wider support for G-20 actions.

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11 NOVEMBER 2011

[1] The 3G comprises the following Member States of the United Nations: Bahamas, Kingdom of Bahrain, Barbados, Botswana, Brunei Darussalam, Chile, Costa Rica, Republic of Finland, Guatemala, Jamaica, Kuwait, Principality of Liechtenstein, Malaysia, Principality of Monaco, Montenegro, New Zealand, Panama, Peru, Republic of the Philippines, State of Qatar, Republic of Rwanda, Republic of San Marino, Republic of Senegal, Republic of Singapore, Republic of Slovenia, Switzerland, United Arab Emirates, Uruguay and Socialist Republic of Viet Nam.

[2] "Governance for growth: Building consensus for the future": a report by UK Prime Minister David Cameron.