Strengthening the multilateral order together

Scholz meets with representatives of international organisations Strengthening the multilateral order together

Following his talks with representatives of the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), the World Trade Organisation (WTO), and the World Bank, Federal Chancellor Scholz said: "The only way we can meet the great challenges of today is by working together." The major international economic and financial organisations, he continued, were "crucially important" for achieving this.

Federal Chancellor gives a press conference with representatives of major international economic and financial organisations

Federal Chancellor gives a press conference with representatives of major international economic and financial organisations

Photo: Federal Government/Imo

"What we need," said the Federal Chancellor, following talks with representatives of major international economic and financial organisations, "is smart globalisation." It was all about boosting resilience, reducing dependencies, and enabling more countries to "participate in global trade by diversifying trade relations," Scholz continued. 

Scholz met with IMF Director Kristalina Georgieva, WTO Director-General Ngozi Okonjo-Iweala, World Bank Representative Mari Pangestu, International Labour Organisation (ILO) Director-General Gilbert Houngbo, and OECD Secretary-General Mathias Cormann to discuss "how we can act together as effectively and sustainably as possible in this very complex crisis situation." The effects of the pandemic, he added, were still being felt, and at the same time the consequences of the Russian war of aggression were having global repercussions, which "we see in rising prices, in energy security issues, and in terms of food security, but also in economic outlooks and economic growth prospects."

Halting global climate change

At the same time, said the Federal Chancellor, "we must not forget the other great challenge facing humanity." Halting global climate change can also "only be achieved if we work together." Once again, Scholz called for the formation of a "cooperative international climate club." A fund for climate-related loss and damage was discussed at the 2022 World Climate Conference (COP27), which, as Scholz explained, presented another challenge. He noted that sustainable development also included a commitment to fair working conditions throughout the world, all of which required close collaboration. To this end, he said, Germany was working effectively with international organisations to bring about a just and better world.

Long-term supply contracts with Qatar

With regard to Germany's energy supply security, the Federal Chancellor also expressed his satisfaction with the long-term supply contracts for liquefied gas deliveries from Qatar to Germany. "We intend to ensure that our overall energy supply is provided by a very large number of countries via the various structures. In that sense, I'm confident that this is another important building block for a house that we've already largely built."