FM: G20 establishes itself as the most representative mechanism of collective leadership

Russia’s Foreign Minister Sergey Lavrov gave an interview to the Asharq Al-Awsat pan-Arab daily, Foreign Ministry’s website reported.

As Lavrov pointed out in his interview, “Over the past three decades, the share of G7 states in the global economy in terms of purchasing power parity has declined from 46% to 30% while the weight of countries with developing markets, on the contrary, is growing steadily. It is no coincidence that the key issues of our time are submitted to the G20, which is establishing itself as the most representative and respected mechanism of collective leadership of leading states that meets the 21st century realities. The authority and influence of new type multilateral associations such as the SCO and BRICS are also increasing.”

“The Russian Direct Investment Fund and the Public Investment Fund of Saudi Arabia coordinate prospective projects at their jointly established $10 bln platform,” he noted. “Such areas as industry, energy, agriculture, infrastructure, transport, natural resources and cutting-edge technology have an impressive growth potential. We should also include close coordination on the global oil market among our common assets.”

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