President Jacob Zuma will lead the South African delegation to the G20 Leaders' Summit in Brisbane, Australia, on 13 to 16 November 2014.
The G20 Leaders will discuss the state of the global economy, against the backdrop of a disappointing weak recovery. The focus of the summit will be on how the G20, both collectively and individually, can take additional measures to significantly raise global growth by implementing policies aimed at lifting Gross domestic product (GDP) by more than two per cent over the next five years.
The G20 member countries have agreed to take concrete actions to promote this collective growth ambition, including measures on investment, competition, trade and employment.
To achieve this, individual G20 member countries have developed country specific growth strategies, which will form the basis of a proposed G20 Brisbane Action Plan, to be submitted to Leaders for endorsement.
On 14 November 2014, the CEOs of major companies from G20 countries have been invited to engage with G20 leaders. Prior to the official G20 Summit on 15 November 2014, Australia's Prime Minister Tony Abbott will host an informal retreat for the G20 Leaders. The objective of the retreat will be to give Leaders the opportunity to engage one another in a free flowing, direct exchange about their current challenges and economic reform priorities, and to share views about how the G20 can help to address the implementation thereof.
It is also expected that a BRICS Leaders meeting will be held on the margins of the G20 Leaders' Summit. The meeting will afford BRICS Leaders an opportunity to reflect on the progress made with regard to the implementation of the 2014 Fortaleza Declaration, especially as it pertains to the establishment of the New Development Bank and its Africa Regional Centre.
As the only African member of the G20, South Africa has utilised its participation in the G20 to raise issues of particular concern to Africa and the South.
In the case of South Africa, the Government has set a national growth target of five per cent by 2019 and various measures and interventions are being undertaken to jump-start the economy. In particular, the implementation of a National Development Plan is key to achieving South Africa's own national growth target and also in addressing the challenges of poverty eradication, job creation and inequality.
The President will be accompanied by Mr Nhlanhla Nene, Minister of Finance and Ms Maite Nkoana-Mashabane, Minister of International Relations and Cooperation.
Enquiries:
Mac Maharaj
Cell: 079 879 3203
E-mail: macmaharaj@icloud.com
