Research and development cooperation is crucial for advancing global AI governance. AI policy has shifted from broad principles to sector-specific regulations, necessitating new regulatory experimentation and accountability frameworks. This policy brief builds on the T20 Brazil 2024 Communiqué and addresses two critical dimensions: the Global Governance Monitoring System (GGMS) and the Transparency and Inclusivity Index for AI Systems (TIAIS). These mechanisms operationalise key T20 recommendations by fostering accountability, reducing inequalities, and enhancing public trust in AI. The GGMS, modelled on the Intergovernmental Panel on Climate Change, will be an independent multilateral body monitoring AI governance frameworks, societal impacts, and regulatory compliance. This system will leverage multi-stakeholder expertise, ensuring representation from underrepresented regions, particularly the Global South, as the São Luís Declaration highlighted. The TIAIS will create a standard to evaluate AI system transparency, inclusivity, and fairness, focusing on bias mitigation and cultural diversity in large language models.