Global South must cut dependence on single markets, build fair economic order: EAM Jaishankar at UNGA sidelines

Jaishankar holds series of bilateral meetings on UNGA sidelines; discusses strategic, global issues

NEW YORK — External Affairs Minister S Jaishankar has urged Global South countries to reduce dependence on any single supplier or market by building resilient supply chains, alongside promoting fair economic practices, and boosting South-South trade and technology collaborations.

Addressing a high-level meeting of Like-Minded Global South Countries on the sidelines of the 80th session of the United Nations General Assembly here on Tuesday, Jaishankar said, "We meet in increasingly uncertain times, when the state of the world is a cause for mounting concern for member states."

The Global South, he said, in particular, is confronted with a set of challenges, from pandemic shocks and wars in Ukraine and Gaza to extreme climate events, volatile trade, uncertainty in investment flows and interest rates, and the "catastrophic" slowing down of the Sustainable Development Goals (SDG) agenda.

"In the face of such proliferation of concerns and multiplicity of risks, it is natural that the Global South would turn to multilateralism for solutions," Jaishankar said.

However, "unfortunately", he noted, "there too we are presented with a very disappointing prospect", with the "very concept of multilateralism under attack" and international organisations being rendered ineffective or "starved of resources".

"The building blocks of the contemporary order are starting to come apart. And the cost of delaying much-needed reforms is today starkly visible," Jaishankar said.

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He said the Global South must present a united front in demanding a level playing field in the international system.

For the economic security of the Global South, developing nations must build "resilient, reliable and shorter supply chains that reduce dependence on any single supplier or any single market", Jaishankar said.

He asserted that the developing countries must "democratise" production through fair and transparent economic practices, ensure a stable environment for balanced and sustainable economic interactions, including more South-South trade and investment, and push for an urgent resolution of conflicts that are impacting food, fertiliser, and energy security.

The minister also emphasised the protection of global commons, including addressing maritime shipping concerns; a collaborative leveraging of technology for development, especially the creation of a digital public infrastructure; and a fair and level playing field in different domains that do justice to the developmental concerns of the Global South.

Outlining a structured approach for how the Global South can engage with world affairs, Jaishankar proposed five key steps to strengthen the collective voice and influence of the developing nations.

He emphasised the importance of utilising existing forums to strengthen consultations among the Global South with a view to "enhance solidarity and encourage collaboration".

Jaishankar also called for comprehensive reform of the UN and "multilateralism as a whole".

He said the Global South must bring its specific strengths, experiences and achievements to the international stage to benefit fellow nations, citing "vaccines, digital capabilities, education capacities, agro-practices and SME (Small and Medium Enterprises)" as key examples.

Highlighting the need for an equitable approach to global challenges, the minister said that in areas like climate action and climate justice, the Global South should come up with initiatives that serve its interests, rather than merely aligning with the perspectives of the Global North.

He also underscored the importance of engaging in discussions on emerging technologies, especially artificial intelligence, to ensure that developing countries are not left behind in the evolving global order.

India has been consistently championing the voice of the Global South in international forums and reiterating its commitment to ensuring that developing nations play a meaningful role in shaping the global agenda.

Jaishankar holds series of bilateral meetings on UNGA sidelines; discusses strategic, global issues

External Affairs Minister S Jaishankar held a series of bilateral meetings with his counterparts from across the world on the sidelines of the 80th session of the United Nations General Assembly, discussing a wide range of issues, including bilateral ties, regional developments, and global conflicts.

He shared about the meetings in a string of social media posts.

In a meeting with David van Weel of the Netherlands on Tuesday evening in New York, Jaishankar held an "insightful conversation on European strategic positioning and India's approach".

He also met Danish Foreign Minister Lars Lokke Rasmussen, where he "valued his insights on recent developments in Europe" and the ongoing Ukraine conflict. The two ministers also discussed bilateral ties and cooperation between India and the European Union under Denmark’s Presidency of the Council of the EU.

With Sri Lankan Foreign Minister Vijitha Herath, Jaishankar reviewed the progress of bilateral cooperation.

The External Affairs Minister also met with Mauritian Foreign Minister Ritish Ramful and discussed follow-up actions to the recent State Visit of Mauritian Prime Minister Navinchandra Ramgoolam to India.

In a meeting with Maldivian Foreign Minister Abdulla Khaleel, Jaishankar reiterated India’s "steadfast" support for the development of the Maldives.

Bilateral ties were also on the agenda in separate meetings with foreign ministers Lejone Mpotjoana of Lesotho, Melvin Bouva of Suriname, Abdisalam Ali of Somalia, Alva Baptiste of Saint Lucia, and Kamina J Smith of Jamaica.

Jaishankar congratulated Smith on her reappointment as Jamaica’s Foreign Minister and expressed optimism about strengthening the India-Jamaica partnership.

He also had a "quick chat" with Singapore’s Foreign Minister Vivian Balakrishnan on the sidelines of the High-Level Meeting of Like-Minded Global South Countries.

In addition to his ministerial engagements, Jaishankar met Sultan Ahmed Bin Sulayem, Group Chairman and CEO of Dubai-based multinational logistics company DP World, to discuss "current developments in the international economy and their implications for connectivity and logistics".

Earlier, he attended an informal meeting of European Union Foreign Ministers, hosted by EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas.

The meeting provided an opportunity for an "open exchange of views on multilateralism, India-EU partnership, Ukraine conflict, Gaza, energy and trade," Jaishankar said.