Transcript of Foreign Minister George Yeo's phone interview with Radio Australia Today

Below is the transcript of Minister for Foreign Affairs George Yeo's phone interview with Radio Australia Today, which was aired today.

TRANSCRIPT OF MINISTER'S PHONE INTERVIEW WITH RADIO AUSTRALIA TODAY ON THE 3G, 5 FEBRUARY 2010, 1015 HRS

Kafcaloudes: Welcome to Radio Australia Today, Minister.

Minister: Happy to appear on your show, Phil.

Kafcaloudes: We have been talking about some of the countries that are involved in this, New Zealand, Sweden, United Arab Emirates, Rwanda, Panama - that is quite a mixture of countries, quite a spread of styles and wealth for one organisation.

Minister: It is really an informal grouping of countries, which have come together both in New York and Geneva, to discuss how we can help the G20 countries improve global governance. The G20 countries, as we are aware, have been preoccupied with the global economic situation, in particular, the global financial crisis. It is important that the work they do improve the UN and other international organisations like the IMF, World Bank, and not weaken them. And our hope is that the interest of smaller countries and international organisations are taken into account and so we will be meeting informally. We've met the UN Secretary-General, and we will be engaging G20 countries and other countries as well.

Kafcaloudes: Can we also talk about some of the things that you hope the 3G will actually achieve, what issues will you be focussing on?

Minister: Well, we will focus on issues which the G20 countries are interested in. At the Pittsburgh meeting last September, we were told that the G20 grouping will replace the G8. So it is going to play an important role in global politics. And the issues which they are seized by are issues which we should be concerned with. I think it will be good if before every G20 meeting, the 3G countries should also give their views, express their hopes, their concerns, and when decisions are made at the summit by the G20 countries, give their reflections, and maybe their assessments.

Kafcaloudes: But it is also interesting that since you will be dealing with many of the same issues and this is feeding into the G20, a lot of what 3G is going to talk about, it almost seems why not become part of G20, turn it into a bigger organisation?

Minister: We have always struck a balance between involvement and efficiency. I mean, why not include all members of the UN? But then, we will be stuck. So I think it is good that the big countries, the major countries are exercising their leadership and I think our role is really to help them exercise that leadership in a way which is legitimate, which everybody can accept as a process which benefits everybody.

Kafcaloudes: We are going to say of course, that (with) growth among many countries, developing countries over the future, is there perhaps a possibility do you see...I mean G20, at the moment, has 28 countries in it. It is very very big. Do you see the possibility that some of the 3G countries will get to the stage where it may be more appropriate for them to go into the G20?

Minister: I don't think it is possible for the G20 countries to expand in a mindless way, because it will render it ineffective, so I can understand it is important to restrict the membership. But on issues of sectoral interest, I think it is important for countries not in the G20, which have an interest in these particular sectors, to also be included, so that there is a kind of variable geometry. For example, for discussions on financial institutions, Singapore and Switzerland have a vital interest at stake, so we should be brought in. If one day, a subject like agriculture should be brought up for discussion - may or may not be, in the future we can't tell - then a country like New Zealand should be included. So I think we have got to look at this in a specific way, and not create a magic circle where on all issues of interest to everybody, only the same countries are involved.

Kafcaloudes: So that explains why, with this grouping as I mentioned, Rwanda is in, Panama is in, and the United Arab Emirates - many of these countries don't have a lot in common. So what you are saying that as an issue comes up, the countries which might have something to contribute or be affected, are the only ones that will be involved in the discussion.

Minister: Uhm, yes, that is the general consideration. We are also concerned that the 3G countries should be fairly representative of all the other countries in the world, so we are spread across the continent, we are small and not so small, we have different sectoral interests at stake.

Kafcaloudes: Singapore, of course, and many of the countries I have mentioned, New Zealand, Chile, have not had representation on the G20 and before that, the G8. How has it been to the disadvantage of these countries? Can you think of any examples where, not having representation at the G group of nations, that has actually been detrimental to those countries?

Minister: At the London meeting, financial centres became a major issue and countries like Singapore and Switzerland, unexpectedly found ourselves on the OECD grey list and came under some pressure to alter the way we operate. This was without prior consultations with us, we were not involved in the discussions but we had to react to the decision taken by the G20 and we have reacted. That doesn't seem to me, the right way to get things done. Hong Kong, which had a situation very similar to Singapore, had China to look after its interest, so it is not on the grey list but Singapore was, and other countries too. So I think it is important that on issues which concern others, those who have major interest, should also be brought into the discussion. That is a matter of process, it would improve legitimacy and the sense of fairness.

Kafcaloudes: It is very important for Singapore here and Australia as one of the prime drivers or originators of the APEC nations...and you are one of the prime drivers of 3G. This is actually quite an achievement for you, isn't it?

Minister: No, I don't see it as a particular achievement, it is just a group of countries which share similar concerns and hopes, coming together to have informal discussions. It is not a very big deal. I mean, it is just a process. There are many processes going on in the UN and elsewhere, which we hope would act for the common good.

Kafcaloudes: You are happy to be Foreign Minister and to stay that way a while?

Minister: I have held other portfolios before, I was Minister for Information and the Arts, Minister for Trade and Industry and over the years, have had the pleasure of working very closely with my Australian counterparts. I was there 20 year ago at the first APEC meeting in Canberra, and the following year we brought it to Singapore. I was involved in making sure that Australia stays engaged in the region, so we have the East Asia Summit and the Asia-Europe Summit, so it has been my pleasure and my honour to have worked closely with my Australian counterparts in various portfolios.

Kafcaloudes: Well I must say, and I did say that your Facebook page is pretty cool and it is, the photos are terrific. So it is lovely to be able to get to talk to you, George Yeo, Foreign Minister for Singapore, so I thank you for your time today, we really appreciate it.

Minister: Thank you and thank you for your kind words.

Kafcaloudes: Thank you.

Minister: Thank you.

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