Venezuela extends support to China’s global initiatives, calls for multilateralism at UN General Assembly

Venezuelan Foreign Minister Yvan Gil

24th September 2023 – (United Nations) Venezuelan Foreign Minister Yvan Gil expressed his country’s support for China’s global initiatives on development, security, and civilisation during his speech at the General Debate of the United Nations General Assembly on Saturday. Minister Gil praised countries, including China, that contribute to dialogue, understanding, global peace, and progress.

Highlighting Venezuela’s stance, Minister Gil stated, “Venezuela supports the Global Development Initiative, the Global Security Initiative, and the Global Civilisation Initiative. Through collaborative efforts based on complementarity, solidarity, and cooperation, we can steer towards a future of shared prosperity and stability for all of humanity.”

Minister Gil emphasised the necessity of a new multipolar and multilateral world rooted in the principles of the United Nations Charter, free from hegemony. He underscored the importance of true multilateralism, international cooperation, and solidarity. In this context, Venezuela acknowledged the contributions of the BRICS group and expressed its aspirations to join, recognising their impact on global geopolitics and the democratisation of international relations.

Addressing the economic and financial crisis that disproportionately affects developing countries, Minister Gil highlighted the urgency for a new model of global governance mechanisms. He emphasised the need for fair access to international financing for the Global South, calling for a more equitable distribution of resources.

Minister Gil underscored the significance of a true and effective reform of the multilateral system, particularly in the financial sphere, to fulfil the Sustainable Development Goals. He emphasised that without such reforms, these goals are bound to remain unmet.

Debt emerged as a critical issue for developing countries, with little hope for improvement unless the current system undergoes radical transformation. Minister Gil criticised the World Bank, the International Monetary Fund, and Western credit institutions for burdening developing nations with unpayable interest rates while charging low rates to their allies. He referred to this phenomenon as a “criminal financial apartheid” and called for the eradication of this neo-colonialist scheme of plunder and dependence.