CEO Morning Brief

G20: Malaysian, Brazilian Leaders Pledge to Reform Global Governance for a Fairer World Order

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Publish date: Tue, 19 Nov 2024, 08:25 PM
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TheEdge CEO Morning Brief
Malaysian Prime Minister Datuk Seri Anwar Ibrahim greets Brazilian President Luiz Inacio Lula da Silva (left) on the sidelines of the G20 Brasil 2024 Summit. (Photo by Ricardo Moraes/Reuters)

RIO DE JANEIRO, Brazil (Nov 18): In a landmark statement of international cooperation, the leaders of Malaysia and Brazil pledged to work together for “a reinvigorated multilateral system, rooted in the principles of the United Nations Charter and international law”.

The joint statement was issued Sunday (Nov 17), following a bilateral meeting between Prime Minister Datuk Seri Anwar Ibrahim and Brazil President Luiz Inacio Lula da Silva on the sidelines of the G20 Brasil 2024 Summit.

Both leaders emphasised the need for “a reformed global governance that is more representative, democratic, effective, transparent and accountable”.

This system, they said, must reflect the “social, economic, and political realities and predicaments of the 21st century,” while recognising the rising influence of the Global South in international affairs.

Acknowledging “the emergence of new centres of power, policy decision-making, and economic growth,” Lula and Anwar highlighted the potential for these developments to foster “a more equitable, just, democratic, and balanced multipolar world order”.

They stressed the necessity for “comprehensive reforms in global governance” to address the aspirations of emerging and developing countries, enabling them to “play a greater role in international affairs”.

This joint vision for reform underscores both nations’ commitment to addressing global challenges and creating a governance framework that prioritises fairness, inclusivity, and shared prosperity.

Malaysia and Brazil celebrated the 65th anniversary of the establishment of diplomatic relations and the strength of bilateral ties, which are rooted in shared values and common goals, such as peace, cooperation, and sustainable development.

Anwar arrived in the largest country in South America from Lima, Peru, on Saturday (Nov 16), for an official visit and as a guest country representative at the G20 Summit.

Malaysia, along with 16 other countries, including Chile, Qatar, Egypt, Singapore, Spain, the United Arab Emirates, and Vietnam, participated as guest countries in the G20.

The G20 comprises 19 countries and two unions: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Türkiye, the United Kingdom, the United States, the European Union (EU), and the African Union (AU).

Anwar, who is also Malaysia’s finance minister, is accompanied by Foreign Minister Datuk Seri Mohamad Hasan, and Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

Source: TheEdge - 19 Nov 2024

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