President Cyril Ramaphosa says the first-ever G20 Leaders’ Summit on African soil must reflect the aspirations of both the continent and the wider global community.
Opening the two-day gathering at Johannesburg’s Nasrec Expo Centre on Saturday, the President noted that while the G20 once focused mainly on macroeconomic issues, it now tackles a broad range of priorities including trade, sustainable development, health, education, science and technology, agriculture, energy and climate change.
In his address this morning, the President said G20 countries understand that progress on all of these issues is a necessary condition for strong, sustainable, balanced and inclusive growth.
“Through solidarity, we can create an inclusive future that advances the interests of people around the world who are at the greatest risk of being left behind. This is important in an interconnected world, where the challenges faced by one nation affect all nations,” President Ramaphosa said.
He further told those attending the gathering that by promoting equality, they strive to ensure fair treatment and equal opportunities for all individuals and nations.
“It is essential that we break down divisions of economic status, gender, race and geography. Sustainability involves meeting the needs of the present without compromising the ability of future generations to meet their own needs.
“We seek stability because it attracts investment, improves planning and reduces the risk of global economic shocks. And we prioritise inclusive and vibrant markets because they drive innovation and efficiency.
“Thriving economies lift people out of poverty, encourage greater investment and trade, and generate the revenue needed to invest in public goods,” he said.
Impact and multilateralism
The President urged the leaders to make greater and faster progress towards the achievement of the United Nations Sustainable Development Goals by 2030.
“We must continue the reform of the international financial architecture, ensuring that institutions are strengthened, are more inclusive and are equipped to meet the challenges both of the present and the future.
He said that the G20 needs to renew its efforts to advance debt sustainability, with a particular emphasis on African countries and that there must a mobilisation of finance for a just energy transition, increasing the quality and quantity of climate finance flows to developing economy countries.
He said the first Leaders’ Summit “carries the hopes, and must reflect the aspirations, of the people of this continent and of the world.”
“We should not allow anything to diminish the value, the stature or the impact of the first African G20 Presidency. This G20 Leaders’ Summit has a responsibility not to allow the integrity and the credibility of the G20 to be weakened,” he said.
The President thanked all the delegations that have worked together with South Africa in good faith to produce a worthy G20 outcome document for this historic leaders’ meeting.
He added that the G20 underscores the value and relevance of multilateralism while also a sending a message of hope.
“It recognises that the challenges we all face can only be resolved through cooperation, collaboration and partnership. The adoption of the declaration from the summit sends an important signal to the world that multilateralism can and does deliver.
“It sends a message of hope and solidarity,” he said.