As geopolitical rivalries, protectionist policies and mounting global crises strain international co-operation, SA has used the opening of the G20 trade and investment ministers meeting to push for consensus-driven compromises among divided powers.
On Friday, trade, industry & competition minister Parks Tau said defending multilateralism was the only viable path forward.
He said rising debt, climate threats, food and energy insecurity, and pandemic aftershocks were colliding with a breakdown in trust between major economic powers.
“Today, we face a world marked by rising geopolitical tensions, protectionism, and increasing debt burdens, climate change, pandemics, energy and food insecurity threaten an already fragile global coexistence.
“We must navigate these challenges through solidarity, equality, and sustainability, which is the core focus of SA’s presidency.
“These challenges require responses that are inclusive and co-ordinated, as we live in an interconnected world.
“Yet there is a lack of consensus among major powers, including in the G20, on how to respond to these issues.
“In an increasingly complex geopolitical environment, the G20 has an important contribution to make to strengthen multilateralism and global co-operation to address the challenges facing the global economy and to ensure global prosperity,” Tau said.
During his opening remarks, Tau welcomed G20 members, highlighting the significance of hosting the meeting in Africa for the first time.
He also acknowledged Brazil’s previous presidency and the US’s upcoming leadership, emphasising the G20’s role in global economic governance.
Tau said, as President Cyril Ramaphosa previously stated, SA would like its G20 presidency to be one in which all voices were heard and all views counted.
“Its decisions and policies must reflect the needs and aspirations of all who form part of the G20 family and must be forward-looking enough to guide global co-operation on core issues facing us today.”
He highlighted three priority areas:
- Trade and inclusive growth, launching the G20 Africa co-operation agenda;
- Sustainable industrialisation, promoting value addition of critical minerals; and
- World Trade Organisation reform, emphasising the development dimension ahead of the 14th WTO ministerial conference.
“These areas are essential to ensuring our global economy is more inclusive and responsive to the needs of all nations, particularly developing countries.
“At this point, let me stress that SA sees its presidency as a platform to champion the growth and development of the African continent.”
Tau emphasised the importance of finding compromises amid divergent viewpoints to achieve constructive outcomes.
“As the presidency, we are fully aware that there will be divergent viewpoints on some of the issues we have put on the agenda.
“However, I am firmly of the view that with pragmatism, flexibility and co-operation, we can find the requisite compromises that will enable us to deliver constructive outcomes for the G20.
“Together, we can overcome the challenges of our time and secure a more inclusive and sustainable future.”
The Herald
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