The G20 is the premier forum for international economic cooperation and world leaders gathering at this summit will focus on building a healthier, stronger and more sustainable global economy.
The G20 Summit will be preceded by the Group of Eight (G8) Summit, also hosted by Canada, in its Muskoka region from 25 to 26 June 2010. Canada holds the 2010 G8 Presidency. The G8 Summit brings together the world’s major advanced economies i.e. Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States. Since 2001, some of the world’s developing countries have been invited to G8 outreach sessions held on the margins of the G8 Summit. South Africa, amongst others, has consistently participated in these meetings.
South Africa participates in the G8 in the context of the two outreach programmes, namely the G8 Africa outreach (established in Kananaskis in 2002) which established the African action plan that sought to support NEPAD programmes.
The second outreach was agreed to at the Gleneagles Summit and sought to focus on multilateral debt forgiveness to Africa and an undertaking to double Overseas Development Assistance (ODA) by US$50 billion in 2010.
It is South Africa’s view that for the G8 to remain relevant and credible in a rapidly changing global environment, it will have to ensure it becomes responsive to the needs and challenges of the developing world.
We remain hopeful that there will be a speedy implementation of the recent G8 Summit resolutions, in particular the deployment of resources to salvage vulnerable economies.
Last but not least, there is a need to continue our engagement with the G8, in order to continue our dialogue on key political issues and economic policy questions that seek to promote the evolution of an equitable global system of economic governance.
On Thursday, 24 June, President Jacob Zuma will deliver a keynote address to G20 business leaders, under the theme: “Partnering with Africa’s Dynamic Markets”.
is address is expected to call other G20 member countries to continue providing support to African economies as they weather the storm of the latest economic downturn.
Furthermore, the President will call on G20 countries and countries of the North to support the economic and political rebirth of a continent recovering from the economic and political vestiges of colonialism and the Cold War; and call on them to support Africa’s infrastructural development, improvement in social services and the integration of its economies.
The president will also use the occasion of his keynote address to G20 business leaders to request them to take advantage of the available trade and investment opportunities in Africa; while at the same time calling on their governments to continue providing Africa with access to their sophisticated markets, innovative technologies and as reliable sources of Foreign Direct Investments (FDIs).
President Zuma will also propose an Africa-G20 partnership that will see FDIs with limited and negotiable
conditionalities extended to our continent of Africa.
The president will return to the country on 28 June 2010.
For more information contact:
Saul Kgomotso Molobi
Cell: 082 940 1647
Vincent Magwenya
Cell: 072 715 0024
