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Multilateralism best answer to problems world faces: Italian premier

Multilateralism is the best answer to problems the world faces, the Italian premier said Saturday.

Mario Draghi delivered the opening address at the G-20 Summit in Rome and underlined the importance of acting together to solve global problems, including the coronavirus pandemic, climate change and fair and equitable taxation.

He argued that multilateralism is the only possible answer in many ways, according to a statement from the Italian government.

“We must do all we can to overcome our differences,” said Draghi, while expressing optimism that recovery from the health and economic effects of the pandemic is already underway.

Draghi said successful vaccination campaigns and coordinated action from governments and central banks have allowed the global economy to rebound.

He nevertheless warned that the pandemic is not over and there are disparities in the global distribution of vaccines.

Citing that more than 70% of the population in high-income countries has received at least one dose while the rate is around 3% in the poorest countries, Draghi said: “These differences are morally unacceptable, and undermine the global recovery.”

He maintained that the world must continue to invest in research, eliminate trade barriers affecting COVID-19 vaccines and enhance predictability in their delivery.

Draghi highlighted the need for strengthening supply chains while expanding vaccine manufacturing capacity at the local and regional levels for an effective global struggle against the pandemic.

The 2021 G20 summit, which convened leaders of the world’s 20 leading economies and representatives of international organizations, began Saturday.

The two-day summit, hosted by the G20 term president, Italy, was inaugurated by Draghi.

The group of the 20 largest and most advanced economies is to address the coronavirus pandemic, ways to foster a robust economic recovery and boost global cooperation on climate action.

Meetings are also expected to discuss migrant crises and other geopolitical issues.

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