Trade, Industry and Competition Deputy Minister, Andrew Whitfield, says South Africa’s G20 Presidency is an opportune time to advocate for investments in Africa’s infrastructure and productive sector in order to promote meaningful integration of African countries in global trade.
Whitfield on Tuesday made the opening remarks at the first G20 Trade and Investment Working Group meeting hosted virtually by the Department of Trade, Industry and Competition (the dtic) as part of the G20 programme that will culminate in the main summit in November 2025.
South Africa officially took over the Presidency of the Group of Twenty (G20) in December last year from Brazil. South Africa's Presidency is being held under the theme: “Solidarity, Equality, Sustainability”, with a strong focus on Africa’s development.
The first G20 Trade and Investment Working Group session was attended by representatives from the G20 and other invited countries.
Also present at the meeting were international organisations such as the World Trade Organisation (WTO), the United Nations Trade and Development (UNTAD), the Organisation for Economic Cooperation and Development (OECD) and African regional communities.
The Working Group’s primary focus is on four priority areas, namely, trade and inclusive growth; a responsive trade agenda to address global commons; green industrialisation, and the reform of the World Trade Organisation.
“These areas are essential to ensuring that our global economy is more inclusive and responsive to the needs of all nations, particularly developing countries,” Whitfield said.
He told attendees that South Africa sees its Presidency as a platform to champion the growth and development of the African continent.
“Africa is poised to be the next frontier for global growth. With its abundant natural resources and the youngest population, Africa offers immense potential.
“The African Continental Free Trade Area (AfCFTA) has the power to transform the continent’s economic and social landscape. South Africa will seek the G20’s support for the implementation of the AfCFTA, in particular the adjustment fund,” Whitfield said.
Deliberations at the working group meetings will reflect on the successes and failures of the last 30 years of the multilateral trade system and to send a clear message on reforms to be undertaken to inform the work of the WTO, given the emerging challenges in global trade.
“Through our G20 Presidency, South Africa is committed to advancing global cooperation and building strong partnerships that will drive growth and development for all... Together, we can overcome the challenges of our time and secure a more inclusive and sustainable future.
“The nations of the world look to the G20 for leadership on the most pressing issues confronting our world and we dare not fail,” he said. – SAnews.gov.za
