President Cyril Ramaphosa has urged India-Brazil-South Africa (IBSA) leaders to reinvigorate South-South cooperation to drive inclusive economic growth, advance sustainable development and accelerate reforms to global governance institutions.
“South Africa wishes that, as IBSA, we revitalise our interactions and renew our determination to advance our founding goals,”President Ramaphosa said on Sunday in Johannesburg.
President Ramaphosa hosted India’s Prime Minister Shri Narendra Modi and the President of Brazil, Luiz Inácio, at a high-level IBSA meeting on the sidelines of the second day of the Group of Twenty (G20) Leaders’ Summit taking place in Johannesburg.
IBSA is a forum that brings together India, Brazil and South Africa – three large democracies and major economies from three different continents, facing similar challenges.
The forum was established to deepen South-South cooperation, coordinate positions on global issues, and promoting trilateral partnerships.
“Our cooperation is grounded in the daily realities of our people. Together, we must champion ambitious reform of the global governance institutions.
“We must reinvigorate commitments to climate action and deepen cooperation on just energy transitions. We must safeguard food and health security and ensure that the benefits of technological progress are shared equitably,” President Ramaphosa said.
He urged IBSA leaders to position themselves as co-architects of a more representative and responsive multilateral system.
“The structural fault in the global economy – the growing gap between the rich and the poor and deepening poverty and underdevelopment – can only effectively be addressed through a new paradigm of inclusive economic growth.
“Through initiatives like the IBSA Fund, we continue to demonstrate the practical value of our association, particularly in the assistance provided for those most in need.
“I am, therefore, delighted that we will be signing a collaboration agreement on foundational learning as a follow up of the agreement that has been signed by the three IBSA Education Ministers,” the President said.
South Africa is hosting Heads of State and Government from the world’s largest economies at the first G20 Summit held on African soil under the theme: ‘Solidarity, Equality and Sustainability’.
“The world in which we live is changing rapidly and dramatically. It is clear that the countries of IBSA are ready to be part of global change and to work for a better future.
“India, Brazil and South Africa are not merely participating in global economic governance, but are working to shape the global agenda,” the President said.
He said IBSA stands out as a testament to the durability of principled and constructive cooperation.
“Our grouping affirms that diversity is not a fault line but a source of strength. It reminds us that collaboration among equals is indispensable to global peace, prosperity and stability,” the President said.
G20 members include the world’s major economies, representing 85% of global GDP, 75% of international trade, and two-thirds of the world’s population.
The G20 comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, the United Kingdom, and the United States), the European Union, and since 2023, the African Union.