South Africa President Cyril Ramaphosa has arrived in Bali in the Republic of Indonesia for the annual G20 Leaders' Summit. The President will participate in deliberations among world leaders whose economies account for 85% of the global Gross Domestic Product (GDP), 80% of world trade and two-thirds of the world’s population.
The Summit takes place on 15 and 16 November 2022 under the
G20 Presidency of Indonesia, themed “Recover Together, Recover Stronger”.
The G20 was formed in 1999 as a result of the Asian
financial crises of the late 1990s, initially as a gathering of finance
ministers and subsequently as a platform for Heads of State and Government in
the aftermath of the global financial crisis.
The group consists of leading developed and developing
economies aiming at a collective response to global economic and financial
challenges rooted in the interconnected economic and financial architecture.
The G20 also seeks to increase multilateral cooperation for
the recovery of the global economy, to bring stability to the global financial
system, to promote long-term sustainable growth and to strengthen global
economic governance.
G20 Leaders will seek consensus on Global Health
Architecture, Sustainable Energy Transition, and Digital Transformation.
The G20 agenda has expanded beyond economic and financial
issues and now encompasses issues of peace and security, global governance,
international terrorism, the environment, refugees and other geo-political and
foreign policy-related matters.
President Ramaphosa will be accompanied by the Minister of
International Relations and Cooperation, Dr Naledi Pandor and Minister of
Finance, Mr Enoch Godongwana.
Ahead of the start of the G20 Leaders' Summit, the President
will chair an engagement of the African Union and NEPAD on Africa’s value
proposition and priorities.
Issues under discussion in this forum will include the
continent’s aspirations to reach the United Nations Sustainable Development
Goals (SDGs) by 2030, the realisation of the African Union’s Agenda 2063 goals,
and securing permanent membership of the G20 for the African Union.
Distributed by APO
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