Saudi foreign minister emphasizes need for reforms in global governance
Saudi Foreign Minister Prince Faisal bin Farhan called for significant changes in global governance to make international organizations more effective.
Speaking at the G20 foreign ministers' meeting in Rio de Janeiro, Prince Faisal emphasized the group's vital role in driving cooperation among the world's top economies and addressing global economic issues.
He focused on the interconnected nature of the global economy, underscoring the need to overcome trade barriers to foster development. Prince Faisal championed stronger multilateral trade systems, drawing attention to Saudi Arabia's proposal to reform the World Trade Organization, which received G20 support under its 2020 presidency.
Further, he highlighted the necessity of global solidarity to lessen the burden on developing nations. For Saudi Arabia, applying the G20's joint strategies is key to reshaping global governance and correcting systemic disparities. He urged for an increase in global dialogue, trust, and the legitimacy of international entities.
To conclude, Prince Faisal endorsed reforms to increase transparency, inclusion, and fair enforcement of international law, particularly advocating for improvements to the United Nations Security Council's effectiveness in collective decision-making.