FM Hakan Fidan urges a globally inclusive, rule-based, transparent, and sustainable financial system. / Photo: AA

Turkish Foreign Minister Hakan Fidan has emphasised the need for reforming the UN Security Council, highlighting its inability to address global issues, including the situation in Gaza.

On the second day of the G20 Foreign Ministers Meeting in Brazil, Turkish Foreign Minister Hakan Fidan attended the Global Governance Reform session on Thursday, where he highlighted the importance of solid multilateral institutions and effective global governance mechanisms to address geopolitical tensions in the evolving multipolar new world order.

He said it is essential to realise the need for the change to occur, and priority should be given to reforming the Security Council, according to Turkish diplomatic sources.

Fidan said the Council "casts a shadow on the reputation of the entire UN system," and a "more democratic and accountable system" based on the parametres of international law is needed.

Sources said Fidan also noted that the international financial system should be "truly inclusive, rule-based, more transparent and sustainable."

He said international financial institutions and multilateral development banks should adopt policies suitable for developing and least-developed countries to close the gap between developed and developing countries.

Otherwise, Fidan said, the Sustainable Development Goals cannot be achieved.

He added that the G20 has an important role to play in helping that occurs.

TRT World