Global South must cut dependence, work on fair economic order: EAM

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 in New York, Jaishankar called for “an urgent resolution of conflicts that are impacting food, fertiliser and energy security”.

He said the Global South faces mounting challenges, from the lingering effects of the Covid-19 pandemic and conflicts in Ukraine and Gaza to extreme climate events, trade volatility and the slowing of the Sustainable Development Goals agenda.

“Most of all, the rights and expectations of developing countries in the international system… are today under challenge,” he said.

The minister stressed that, while it is natural for the Global South to look to multilateralism for solutions amid growing risks, the very concept of multilateralism itself is under attack.

“International organisations are being rendered ineffective or starved of resources,” he said.

Jaishankar outlined key principles for collective action, including fair and transparent economic practices, resilient and diversified supply chains, protection of global commons, leveraging technology for development and ensuring a level playing field that addresses the developmental concerns of the Global South.

He also suggested practical steps for cooperation: strengthening consultations among Global South nations, sharing successful experiences in areas such as vaccines, digital capabilities and agro-practices, developing climate initiatives tailored to the Global South, exploring emerging technologies like artificial intelligence, and pursuing reforms of the United Nations and wider multilateral system.

Emphasising unity and collaboration, Jaishankar said multilateral cooperation was essential to address shared challenges and safeguard economic and human security across developing nations.