South Africa wants G20 Summit to advance global governance reforms

South Africa views the upcoming G20 Summit as an opportunity to advance global governance reforms and reorient the international developmental agenda, the Presidency said on Wednesday.

South Africa also takes the summit as a platform from which to promote and strengthen interests of the African continent and of the South, the Presidency said before President Cyril Ramaphosa leaves for Buenos Aires, Argentina to take part in the summit that will take place between November 30 and December 1.

In the course of this working visit, Ramaphosa will hold bilateral meetings with various heads of states to strengthen and deepen relations with partner countries, presidential spokesperson Khusela Diko said.

The president will present South Africa as an attractive investment destination and trade partner, said Diko.

Argentina assumed the G20 Presidency in November 2017, with a focus throughout this year-long term on “building consensus for fair and sustainable development.”

This theme resonates well with Ramaphosa’s emphasis on the importance of consensus and collaboration in South Africa’s efforts to build an inclusive and sustainable economy and advance social cohesion, Diko said.

The G20 was formed in 1999 with the aim of bringing stability to the global financial system, promoting long-term sustainable growth and strengthening global financial governance.

However, it has since expanded its agenda beyond economic and financial issues to encompass geopolitical matters and issues of peace and security, global governance, environment and international terrorism.

The G20, which consists of the leading developed and developing economies, accounts for 85 percent of global economic output, 75 percent of international trade and 66 percent of the world’s population.

Source: GNA