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Global South Summit: Nepal pitches for inclusive and sustainable global growth

Global South Summit: Nepal pitches for inclusive and sustainable global growth

Prime Minister Pushpa Kamal Dahal on Friday addressed the second Voice of Global South Summit organized by India.  Addressing the session, PM Dahal said that the world is facing unprecedented crises generated by the COVID-19 pandemic, climate change, and deepening geo-political complexities. They have impacts on food and nutrition, health and education, economy and environment, and peace and security, he said.  More than 125 countries from the Global South attended the Summit. 

Developing countries especially the LDCs are the most affected ones by these crises. Rising food and energy prices, tightening financial conditions, and persistent cycles of vulnerabilities continue to add to their worries, PM Dahal said, many countries of the Global South are under unsustainable debt burden which is straining investments in health, education, social justice, and other pressing national priorities. 

We believe that in order to address the challenges facing the world, the international community must focus on common goals of peace, progress and prosperity. For this, building of trust, promoting partnership and collaboration and working in solidarity remain crucial, PM Dahal said.  We need to champion inclusive and sustainable global growth, in which the Global South receives a fair share to eradicate poverty and give their people a decent life, PM Dahal said, that Nepal remains steadfast in its commitment to multilateralism with the United Nations at the center.

Nonetheless, we believe that the existing global governance architecture needs a timely reform to make it relevant and reflective of today’s realities. At the same time, reform of the international financial architecture should be a top priority with full consideration to the voice of the countries in special situations, including LDCs, LLDCs and SIDS, PM Dahal said. 

“Climate change remains a grave threat to humanity. Climate-vulnerable countries like Nepal have been bearing the burden of climate change. The effect of climate change on the Himalayas has posed a severe threat to the lives and livelihoods of millions of people living in our region. We all must commit ourselves to achieving the set ambitions in a time-bound manner.” 

PM Dahal further said that Nepal is graduating from the LDC status by 2026 and we are committed to making this process smooth, sustainable, and irreversible.  Sustainable Development Goals remain at the center of our development vision and priorities with integration into national policies and plans. But even the progress that we achieved so far has been threatened by the multitude of global crises, he said.  “Hence, we have been calling for an enhanced level of international support from our partners such as development assistance, FDI, trade facilitation, technology transfer and technical assistance. The South-South cooperation should also be forthcoming to lifting the neediest countries.” 

Addressing the Summit Indian Prime Minister Narendra Modi said that Global South wants its autonomy and it is ready to take up greater responsibility in global matters. The Indian PM said that Global South wants its voice in global governance.  “Geographically, the Global South has always existed, but it is getting a voice for the first time, and this is because of joint efforts. We are more than 100 countries but our priorities are similar,” he said.   He also spoke of the 5 ‘Cs’, a commitment to which would power the growth of these countries.  The 5 ‘Cs’ are “consultation, cooperation, communication, creativity and capacity building”. 

The foreign ministers’ session deliberated on major global agendas, including climate change, energy transition, technological transformation, and restoring trust in multilateralism. Addressing the Summit, S Jaishankar, Minister for External Affairs of India, said India took over its G20 Presidency in the backdrop of a very challenging global, and in its Presidency, India’s anchor was the Global South.  Its voices inspired our priorities, fueled our efforts, and galvanized a path-breaking consensus, he said.  

Recognizing our shared past, the Global South will continue to make efforts for One Earth and to strengthen the voices of the developing countries, the Indian minister said, as one family, the Global South will continue to act with everyone’s interests in mind and drive transformation and building synergies.  

In the Summit, India has announced some initiatives. One of them is the Global South Centre of Excellence which will work as a think tank and will also work as a repository of knowledge and development initiatives in order to interface with the Global South and seek ways to forge collaboration with countries in this region.