Esteemed participants
Ladies and gentlemen
Good day to you all and welcome to South Africa!
I would have loved to join you in person for this important forum, but I had to be in Canada for the G8 outreach and the G20 summit. We extend our greetings to the more than 350 leaders from 34 countries that are assembled in Cape Town, the CEOs of the world’s largest multinational companies and leaders from diverse fields.
Greetings also to the Time 100 list of the world’s most influential people.
Thanks to the advancement of technology, we are able to speak across oceans and bring together two important forums deliberating on very similar matters.
Both are gatherings of leaders from across the world.
Both are looking at the challenges and opportunities that confront our globe today.
You are in our country during an exciting period, right in the middle of the 2010 FIFA World Cup, the largest sporting event in the world, and the first to be staged on African soil.
We are proud to host the world during this momentous event, just as we are proud and honoured to be the host partner of this forum through the Department of Trade and Industry.
We are pleased that following previous events in India and China, organisers have this year partnered with South Africa in hosting this event for the first time in Africa.
Since 1995, the Global Forum has convened the drivers of economic destiny. The value of this forum is that it brings together thought leaders from government, science, business, sports, media, entertainment, and the non-government sector, to focus on the most pertinent issues facing the global economy.
We welcome the fact that a decision was taken to combine the Global Forum this year with our government’s African Dialogue Conference.
The conference serves as a key platform to drive engagement around critical economic issues on the continent and to connect decision-makers.
Ladies and gentlemen,
While the global forum dialogue has always delivered value, it has gained urgency in recent years.
We all know that the limitations of the international system took us to one of the worst global economic crises.
The global economy is finally showing signs of recovery.
Yet, the stimulus packages that governments used to avert economic meltdown are now contributing to concerns about unsustainable public debt.
This is one of the major issues that leaders will be discussing here at the G20 summit.
They will also be discussing the measures that need to be taken to sustain the recovery, and the reforms required to ensure that such a crisis does not occur again.
We will at the G20 from today, 26 to 27 make our voice heard on a number of issues that we feel strongly about. These include the reform of the international financial system.
We will continue to call for the opening of markets. We will underline the urgency of considering the voice of the developing world in the development and implementation of new financial standards and rules.
This would include a third chair for Africa in the International Monetary Fund (IMF) to enable more say in global governance and policy and access to resources. We are not here in Canada cap in hand to ask for some of these things. Africa offers a market of close to a billion people, with 200 million in Southern Africa alone.
Africa has in recent years seen significant sustained growth.
Sub-Saharan Africa is the third fastest growing region in the world, after China and India.
This is largely due to sustained demand for commodities, sound economic policies, and improved political conditions.
These, together with opportunities in infrastructure, transport, communications, energy, and demand for consumer goods, present the continent as the next frontier of economic growth. We therefore seek equal partnerships for meaningful growth and development at forums such as the G20 and G8.
At the G8 outreach yesterday we were able to deal with issues such as tackling child and maternal health in the continent, peace and security as well as the scourge of the international drug trade amongst others.
Of course, time was insufficient for us to raise all the critical matters that should help us all to create a better Africa and a better world.
Ladies and gentlemen,
As said earlier this forum meets in South Africa during an exciting period because of the Soccer World Cup. The excitement goes beyond football.
The World Cup is proving that faith in Africa was not misplaced.
The overwhelming success is enabling us to challenge misconceptions and stereotypes about the continent which augurs well for the future.
Economically, we invested in infrastructure which will provide long-lasting benefits to the economy. Through the renewal of our transport and roads networks we have addressed long-standing bottlenecks.
Through intensive marketing, we expect a much larger and permanent volume of tourism traffic through the country in coming decades.
A number of reports in the international media have already painted a very positive picture of South Africa.
We plan to make our mark as a place of world class infrastructure and amenities, a fantastic tourist destination and a land of unique cultural diversity and warmth.
All these benefits will last a very long time.
Esteemed guests, ladies and gentlemen,
The slogan of this World Cup is Ke Nako, meaning “Now is the time”.
The Global Forum starting today presents a convergence of the right time, right place, right continent and the right persons!
Let us use this combination to debate the issues and unlock the ‘New global opportunity’ for growth and development.
I must also urge you to make time to enjoy some soccer and also to explore our beautiful country.
There is no need to rush back home after the conference.
Stay on and enjoy our warm African hospitality.
It is my pleasure to declare the Global Forum officially open.
I thank you.
