<h6><strong>The Diplomat</strong></h6> <h4><strong>Spanish Prime Minister Pedro Sánchez, speaking on Tuesday during the first day of the twentieth G20 summit in South Africa, called for strengthening the multilateral trading system and promoting a tax model that allows for a “fair contribution” from the wealthiest and multinationals.</strong></h4> “Sustainable and inclusive economic growth that leaves no one behind: economic development, the role of trade, development finance, and the burden of debt,” Sánchez stated during the first working session, entitled “Sustainable and inclusive economic growth that leaves no one behind.” To this end, the Prime Minister proposed a series of concrete initiatives, “led by Spain,” to address the challenge of debt sustainability. He cautioned, however, that financing alone is insufficient because disruptions in the global trading system, increased protectionism, and fragmentation in supply chains are eroding global growth. Therefore, he stressed the urgency of strengthening the multilateral trading system, adapting common rules to encourage countries to advance their development, and restoring the central role of the World Trade Organization (WTO) and updating it to ensure its capacity to address current challenges. Separately, Sánchez emphasized the need to build on the progress made by the G20 on tax matters in favor of a fairer global model with rules that help countries have sufficient resources, and he advocated for a “fair contribution” from the wealthiest individuals and multinational corporations. He also stated that inclusive and sustainable development can only be achieved in a context of peace and respect for the rules of the multilateral system. On the sidelines of the Summit, the Prime Minister participated in the meeting of European leaders where the proposed peace plan for Ukraine was discussed, reaffirming support for Ukraine and the commitment to a just, lasting, and sustainable peace. The summit was boycotted by the United States, which sent no representative. Russia was represented by its Foreign Minister, Sergey Lavrov, as has been the case since the start of the Russian invasion of Ukraine in February 2022. The Prime Minister also held a bilateral meeting with the Prime Minister of Vietnam, Pham Minh Ching, in which both emphasized the importance of strengthening cooperation between the European Union and ASEAN, as well as the potential to boost bilateral collaboration in areas such as trade, innovation, and investment. Separately, during his meeting with Chinese Premier Li Qiang, Pedro Sánchez stressed the need to move towards a more balanced economic and trade relationship.
