Johannesburg - President Cyril Ramaphosa has welcomed membership of the African Union (AU) in the G20, the premier forum for global economic, trade, and financial dialogue for growth and sustainable development.
Ramaphosa advocated for the AU’s membership in the G20 during the 2022 summit in Bali, Indonesia.
According to the presidency, the participation of the AU will strengthen global economic governance and allow African countries to own and influence decisions on key issues.
‘’On the margins of the New Delhi G20 Summit, South Africa participated in the EU-African Leader’s Meeting attended by the Presidents of the European Council and Commission; African Heads of State invited to attend the G20 summit; the African Union Commission (AUC); and Heads of the IMF and the World Bank. The purpose of the meeting was to, amongst others, discuss AU’s G20 membership, food security, grain and fertiliser supply, and the reform of the global financial architecture," added the statement from the presidency.
Ramaphosa said South Africa welcomed the Indian Presidency’s efforts to accelerate progress on the Sustainable Development Goals.
‘’The achievement of the SDGs must remain at the centre of international financing discussions to ensure that finance is mobilised in sufficient quantities and of suitable quality to support development in low- and middle-income countries,’’ said Ramaphosa.
He further said there is an unsteady global economic recovery, and as policymakers, therefore, need to be flexible and respond quickly and appropriately to risk.
‘’Multilateral cooperation is critical to addressing food and energy insecurity. As African countries, we support a discussion on policy options to address the effects of volatility in food and energy markets,’’ he said.