G20 Summit: Countries welcome Chennai principles for ocean-based economy

Recognising the need to protect oceans, the G20 countries on Saturday reaffirmed their commitment to conserving and restoring the world's marine ecosystems. In the G20 declaration, the countries welcomed the Chennai High-Level Principles for a Sustainable and Resilient Blue/Ocean-based Economy.

The Chennai High-Level Principles for a Sustainable and Resilient Blue/Ocean-based Economy emphasises a sustainable ocean-based economy, strengthening international coordination to solve maritime challenges and enhancing ocean finance.

The countries also reaffirmed their commitment to ending illegal and unregulated fishing as well as harmful fishing methods. The countries also supported the Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR), within the Antarctic Treaty system.

The G20 leaders also committed to facilitating "open, fair, predictable, and rules-based" trade in agriculture, food and fertilisers. Adopting the New Delhi Declaration of G20 countries, the G20 countries resolved to support developing countries' efforts and capacities to address their food security challenges.

"We commit to enhance global food security and nutrition for all in line with the G20 Deccan High-Level Principles on Food Security and Nutrition 2023," the Declaration said.

 African Union (AU) inducted as a member of the G20

The African Union (AU)was inducted on Saturday as another member of the Group of Twenty (G20). This strategic move is seen as amplifying the voice of less developed and developing countries.

"Honoured to welcome the African Union as a permanent member of the G20 family. This will strengthen the G20 and also strengthen the voice of the Global South," said Prime Minister Narendra Modi on the first day of the G20 Leaders' Summit under India's presidency.