Montek Singh Ahluwalia positive on communique at G-20 Summit

SEOUL - Deputy Chairman of the Planning Commission Montek Singh Ahluwalia on Friday expressed optimism over the communique on the concluding day of the G-20 Summit in Seoul.

Ahluwalia said he is hopeful that the Summit would arrive at a deal that will signal forward movement.

“Based on what the Prime Minister has said, I am quite hopeful that when the communique comes out, I think we will all be able to say that’s a significant step forward. The only part of the communique, I mean the development agenda part, I don’t think is controversial. It is really South Korea, which wanted to put development on the agenda, we have supported that, others have supported,” said Ahluwalia.

“I think the only part of the communique, and you can read that in the newspapers, that has appeared to generate some difference of opinion is hardly moved on the MAP process, how do you move on the mutual assessment process, and I am saying that I, am hopeful in fact, see a satisfactory resolution,” he added.

He also said that the new global governance has to be grounded in national sovereignty and economies across the globe should not be jeopardised.

“I think we have to recognise that, global governance has to be grounded in national sovereignty. We are not setting up a world government where people are going to establish rules,” said Ahluwalia.

“I think there is a profound belief that if countries believe that these are win-win situations, and at least on a systemic basis no major country can get away with destabilising the economy, the belief is that this process will generate a constructive response; it is not based on penalties at all,” he added. By Ravinder Singh Robin (ANI)