Multilateralism is fundamental to the liberal world order created at the end of World War II. It has been crucial in maintaining peace and prosperity. It has also been central to the past successes of the G20 in addressing the global financial crisis and promoting international financial stability.

What are the benefits of multilateralism?

Multilateral trade agreements strengthen the global economy by making developing countries competitive. They standardize import and export procedures, giving economic benefits to all member nations. Their complexity helps those that can take advantage of globalization, while those who cannot often face hardships.

What is the intention of multilateralism?

Multilateralism is the coordinated diplomatic interaction between three or more stakeholders in international politics, but can be interpreted differently by different stakeholders. Sometimes it is understood as not only a diplomatic approach, but one that is committed to certain principles and set of values.