Saudi Foreign Minister urges global governance reforms at G20 meeting

Saudi Foreign Minister Prince Faisal bin Farhan delivered a compelling address at the second session of the Group of Twenty (G20) foreign ministers meeting in Rio de Janeiro, Brazil, urging comprehensive reforms in global governance.

In his speech titled “Restructuring Global Governance,” Prince Faisal emphasized the urgent need for collaborative efforts among the world’s leading economies to address pressing global challenges effectively.

Highlighting the increasing interdependence of the global economy, Prince Faisal stressed the importance of overcoming economic obstacles and trade barriers that hinder global growth and development. He specifically underscored the necessity of strengthening multilateral trading systems, referencing Riyadh’s initiative on the future of the World Trade Organization, which garnered support during Saudi Arabia’s presidency in 2020.

Moreover, Prince Faisal addressed the mounting pressures faced by developing countries, advocating for a concerted global approach to alleviate these challenges. He emphasized the imperative of implementing the G20 joint framework across all sectors, asserting that such measures are vital for Saudi Arabia to spearhead meaningful reforms in global governance and rectify existing imbalances within the international system.

In his remarks, the foreign minister called for intensified global dialogue and cooperation, alongside efforts to rebuild trust and credibility in international organizations. Prince Faisal asserted that fostering transparency, inclusivity, and the equitable application of international law are essential steps toward enhancing the effectiveness of key institutions such as the United Nations Security Council in decision-making and addressing shared global challenges.

Prince Faisal’s address resonates at a critical juncture as nations navigate the complexities of an interconnected world and seek avenues for more robust and equitable global governance. His advocacy for reforms underscores Saudi Arabia’s commitment to playing an active role in shaping the future of international cooperation and addressing the evolving needs of the global community. As discussions progress within the G20 and beyond, Prince Faisal’s call for action serves as a poignant reminder of the collective responsibility to strengthen multilateral frameworks for the benefit of all nations.