Global governance systems must resonate with the interests of all of their members, small or large, developed or developing, including those that have special or differential requirements. Multilateral governance bodies are mandated to represent the interests of all their member countries.

The list of global governance issues addressed by multilateral bodies is long: human rights, human development, labor, health, peace, conflict, disarmament, communication, finance and environment. Trade and economic integration, however, have been the most visible aspects of international cooperation in the past year.

The three major elements in global governance — the consensus, rules and membership of multiple national governments — require a binding mode of interaction. Multilateralism facilitates such interaction and helps sustain the rule-based global order.

The process of global governance and the spirit of multilateralism can prevail at several levels — global, regional, subregional, bilateral and trilateral.

Multilateralism also provides for innovation in connectivity and cooperation mechanisms among countries and regions, and facilitates reaching out to new partners.

The spirit as well as the practice of global governance and multilateralism have suffered serious setbacks. The global financial crisis of 2008 brought home the strong message of the need for multidimensional development of all people.

Sharing the benefits of globalization and resultant prosperity, and making growth inclusive became the byword for policymakers across the globe.

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