Page:General Assembly GA 11437.pdf/8

 :Then, acting without a vote, the Assembly adopted the draft resolution on International Commission against Impunity in Guatemala (document A/67/L.60).


 * Global Governance


 * Lastly, the Assembly turned its attention to the Secretary-General’s report on Global economic governance and development (document A/67/L.60), which describes recent international developments and their implications for global economic governance and development. Those include deliberations regarding the growing role of the Group of 20 (G20) in economic and financial policy coordination and its engagement with the United Nations in pursuit of internationally agreed development goals, the reform of the international financial and trade institutions and the outcomes of the United Nations Conference on Sustainable Development, known as Rio+20, as well as developments pertaining to other relevant United Nations processes, such as the formulation of a post-2015 development agenda. The report puts forward further recommendations on how to strengthen the international framework for global economic cooperation in support of development.


 * According to the report, the highest priority is the implementation of the recommendations emanating from Rio+20, which seek to address broad governance challenges in moving towards a green economy in the context of sustainable development. Also critical was strengthening the Organization’s principal organs, namely the General Assembly and Economic and Social Council, and encouraging the active participation of the “Group of 77” developing countries and China, the G-20, non-State actors, civil society and the private sector in development dialogue and activities. Broadening the involvement of developing countries in international economic decision-making and norm-setting is also recommended.


 * OCTAVIO ERRÁZURIZ ( Chile) said that, in a world transformed by globalization, “the agenda of all our countries” included challenges of a global nature. In view of their urgency, “inclusive multilateralism” was needed today more than ever. The goal was to find ways of redoubling efforts to reform and revitalize the United Nations, as a world in which it did not play a central governance role would be an inequitable one without legitimate collective authority.


 * Summarizing the Secretary-General report, he said it sought to clarify the relevance of the smooth functioning of the international financial, monetary and commercial systems for development processes. Indeed, the United Nations must address the phenomenon of “complex multilateralism”, with various levels, players and capacities. He was pleased to see special reference given to the G-20 and stressed the need for complementarity of efforts and for the G-20 to respect, rather than oppose, the decision-making structures of the United Nations. Furthermore, the report stressed the deficit of certain important bodies for collective action in global economic matters because developing countries were not involved or only marginally so.


 * IOANNIS VRAILAS, Deputy Head of the European Union Delegation, said the Union was a “staunch” promoter of multilateralism. In an increasingly interdependent world, it was becoming obvious that “no nation can solve its challenges alone”. For that reason, he welcomed today’s discussion, as it provided an opportunity to deepen the Organization’s participation in global affairs. Effective multilateralism was at the very core of the United Nations and an essential element for its ability to achieve its work. As mentioned in the report, the implementation of the recommendations of the Rio+20 outcome document would enhance the Organization’s central role.


 * Indeed, he continued, the active participation of Member States strengthened United Nations’ relevance, coherence, accountability and credibility. Furthermore, the role of the International Monetary Fund and the World Bank fostered the dynamic voice of emerging markets, especially during the current global financial crisis. Other multilateral institutions, as well as civil society and the private sector, played complementary roles. More coherence and cooperation, as well as “making best use of comparative advantages”, also were essential.