Atlanta, Oct 31 (IANS) External Affairs Minister S. Jaishankar on Saturday called on the G20 to resist “predatory practices”, promote “the right to industrialise” and work towards the “de-politicisation of markets” as the grouping’s Foreign Ministers’ Meeting in Atlanta closed with a session on supply chains.
“The @G20org #Atlanta today concluded with the Plenary III focused on Supply Chains,” EAM Jaishankar said in a post on X after the session.
Setting out the points he raised, he said: “Securing supply chains and ensuring their resilience is today central to the well-being of the global economy.”
“The right to industrialise must be promoted; predatory practices and targeting competition should be firmly resisted,” he said.
EAM Jaishankar said: “Diversification and de-risking, including in connectivity, is the key to supply chain resilience, threatened by pandemics, conflicts, climate events and mishaps.”
He also said: “De-concentration of the global economy and optimisation of production across geographies can discourage the weaponisation of finance, resources, production and market share.”
“The G20 should work towards de-politicisation of markets,” he said.
“G20 countries must reconcile their national interests for the collective good by promoting transparent and multiple supply chains, making the global economy truly multi-stakeholder,” EAM Jaishankar said.
US Secretary of State Marco Rubio, who hosted the meeting, also put supply chains at the centre of the closing session.
“At the closing @G20org Foreign Ministers’ Meeting, I made clear to our partners that secure supply chains are essential for growth,” Rubio said in a post on X.
“Critical trade routes including the Strait of Hormuz and Bab al-Mandeb Strait must remain secure and open to commerce. And we must continue to strengthen and expand critical mineral supply chains to protect our future,” he said.
Earlier on Saturday, EAM Jaishankar took part in the Quad Foreign Ministers’ Meeting in Atlanta with Rubio, Japan’s Foreign Minister Toshimitsu Motegi and Australia’s Foreign Minister Penny Wong.
“Pleased to participate in the QUAD Foreign Ministers’ Meeting in Atlanta, the third this year after our earlier interactions in New Delhi and Manila,” he said on X.
Among the points he highlighted were “Deepening cooperation to promote supply chain resilience and ensure technology, critical minerals & energy security,” as well as “Countering non-market practices and increased economic stresses in the Indo-Pacific.”
On the sidelines of the G20 meeting, EAM Jaishankar also met Russian Foreign Minister Sergey Lavrov.
“Discussed the Ukraine conflict, Gulf situation and multilateral issues with FM Sergey Lavrov of Russia,” he said in a post on X.
The US holds the G20 presidency this year.
–IANS
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