Zuma attends G20 Summit

Wednesday, November 10, 2010

Pretoria - President Jacob Zuma and a South African delegation have arrived in South Korea ahead of the fifth G20 Leaders Summit in Seoul.

The two-day summit is expected to get underway on Thursday and follows a meeting of the G20 in June.

According to the Presidency, South Africa will participate in the summit within the context of contributing to and strengthening the multilateral system to ensure fair and effective responses to the challenges confronting the world today. 

South Africa is part of the G20 as is systematically important for the country, with national economic interests to promote. 

"South Africa is committed to promoting the interests of developing countries in general and Africa in particular. It is also committed to linking the G20 process to other global multilateral forums and initiatives as well as coordinate approaches with other developing countries," said the Presidency.

Items up for discussion include a framework for strong, sustainable and balanced growth, strengthening the international financial regulatory system, global financial safety nets and modernising the international financial institutions.

A business summit is expected to take place on the sidelines of the summit, where corporate executives from around the world will meet to exchange views on how to bolster the recovery and put the global economy back on the path to greater growth. 

It is South Africa's view that a global response is required to mitigate the impact of the global economic and financial crisis and prevent its contagion to emerging and developing countries, in particular in Africa. 

Most Read

SA News on Facebook