Statement by Mr. Mark Neo, Charge d’ Affairs a.i. and Deputy Permanent Representative of Singapore to the United Nations, on behalf of the Global Governance Group (3G) at the Briefing on the outcome of the G20 Los Cabos Summit, 31 July 2012

1                 I have the honour to make this statement on behalf of the informal Global Governance Group * or 3G.  The 3G thanks the President of the General Assembly His Excellency Nassir Abdulaziz Al Nasser for convening this informal plenary meeting.  We also thank the United Nations Secretary-General His Excellency Mr Ban Ki-Moon and Vice-President of the United Nations Economic and Social Council His Excellency. Ambassador Desra Percaya for their briefings and insights. We also express our appreciation to Mexico and the Sherpa of the G20 Chair, the Deputy Foreign Minister Her Excellency Ambassador Lourdes Aranda, for briefing Member States on the outcomes of the G20 Los Cabos Summit.

Supporting economic stabilisation, financial reform and employment

2                 The 3G stresses that in the face of an uncertain global economic outlook, global macroeconomic coordination is urgently needed to stabilize the international financial system.  As such, we welcome the G20’s commitment to coordinate their policies in order to stimulate global demand and restore confidence.  In particular, we are especially encouraged that the Euro Area members of the G20 have agreed to take the necessary steps to safeguard the integrity and stability of the area and move towards greater fiscal and economic integration.

3                 On the G20’s commitments to reform the financial sector and to foster financial inclusion, the 3G welcomes the establishment of the Los Cabos Accountability Assessment Framework that establishes the procedures that will be followed when G20 members report on their progress in implementing their policy commitments in fiscal, monetary, exchange rate, structural, trade, financial sector and development policies.  We also welcome the pledges made by the international community to boost the resources of the International Monetary Fund.

4                 To simultaneously tackle the problems of unemployment and indebtedness, the 3G is convinced that more robust economic growth is necessary.  We are encouraged by the G20’s resolve to promote economic growth and create jobs through the Los Cabos Growth and Jobs Action Plan.  The plan presents a comprehensive set of actions, which we hope will support growth, foster financial stability and create high-quality jobs.

Sustainable Development, Green Growth and Climate Change

5                 In line with the 3G paper to the G20 this year entitled “3G Input to the G-20 on Promotion of Sustainable Development, Green Growth and the Fight Against Climate Change”, we welcome the continued commitment by the G20 to open trade and investment, expand markets and resist protectionism in all its forms.  We also welcome the G20’s reaffirmation of the centrality of the World Trade Organisation in global trade governance and the importance of an open, rules-based multilateral trading system.  We urge the G20 to uphold its commitment to push for an ambitious and swift conclusion of the Doha Round of negotiations.

6        The 3G also welcomes the G20’s efforts in meeting the challenges of sustainable development and its commitment to working with low-income countries to fulfil the Millennium Development Goals.  The 3G believes that it is imperative to continue to help developing countries sustain and strengthen their development through poverty eradication, promotion of green growth, improvement of food security and the fight against climate change.  We encourage the G20 to collaborate closely with the relevant international institutions to find solutions to these challenges.  We also welcome the steps being taken to implement the G20’s commitment on fossil fuel subsidy reform, including to explore a voluntary peer review mechanism and to have a dialogue with other groups already engaged in this work.  

Global Governance

7                 Finally, the 3G appreciates Mexico’s inclusive and consultative approach during its chairmanship of the G20 in 2012 and we look forward to working closely with the Russian chair in 2013.  We welcome the G20 commitment at Los Cabos towards greater transparency and more extensive outreach efforts.  As such, we look forward to the G20’s continued commitment to engage non-members as well as regional and international organizations, in particular the United Nations.  The UN is the only global body with universal participation and unquestioned legitimacy.  With reference to the 3G paper to the G20 this year on “Fostering a Coherent Global Governance Framework: Constructive Engagement between the United Nations and the G-20”, the 3G reiterates our call for the G20 to regularize and institutionalize its interactions with the UN and other stakeholders.  This is in line with the recommendations contained in the report by the UK Prime Minister David Cameron, as well as the proposals submitted by the 3G to strengthen global governance.  The actions and decisions of the G20 should complement and strengthen the UN system.

8                 Thank you.

.     .      .     .     .

* 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, Luxembourg, 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.