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.
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.
G20 Leaders will seek consensus on Global Health Architecture, Sustainable Energy Transition, and Digital Transformation.
The discussions of the G20 often reflect the foremost global political and economic challenges at any given time and therefore as a collective body tends to carry a significant profile and influence.
It is also an effective instrument for advancing much-needed global governance reforms and orienting the international development agenda.
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 also have bilateral meetings with Heads of State and Government to strengthen South Africa’s diplomatic, economic and cultural ties.
Distributed by APO Group on behalf of The Presidency: Republic of South Africa.
