August 30, 2012 6:33 PM

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PM calls for reforms at UNSC, global financial institutions

The Prime minister Dr Manmohan Singh today called for reforms at the UN Security Council and global financial institutions. Addressing the NAM summit in Tehran, Dr Singh said NAM should take the lead in building global governance structures that are representative, credible and effective.

He said there is a need for new instruments of global governance to confront cross-cutting and trans-national challenges through coordinated global action. The Prime minister said these include international terrorism, proliferation of weapons of mass destruction, the menace of maritime piracy, the growing threat to cyber security and the challenge of sustainable development while ensuring energy, water and food security. Dr Singh said today’s structures for global governance remain driven by the power equations of the past and have proved inadequate in dealing with the economic and political crises.

Expressing concern over the deteriorating situation in Syria, Dr Singh urged all parties to recommit themselves to resolving the crisis peacefully through a Syrian-led inclusive political process that can meet the legitimate aspirations of Syrian people.

Dr Singh said the Non-Aligned Movement should renew its pledge to support the Palestinian cause. He called for an early resolution of the issue, so that they can live in peace and dignity in a state of their own. He said developing countries need to have a greater say on matters of global trade, finance and investment. The Prime minister said excessive speculation, structural bottlenecks and lack of coordination are fuelling food inflation at the global level.

Dr Singh said NAM should push for effective food policy coordination and cooperation at the global level in areas such as agricultural productivity, weather forecasting and research and development. Dr Singh said India would be happy to contribute to a NAM initiative on skill development, particularly focused on the knowledge economy.

He urged upon NAM members to work with India in areas of priority to Africa. Dr Singh expressed hope that deliberations will be helpful in restoring this historic Movement to its rightful place on the international stage.

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