Zuma to promote developing countries' interests at G20 summit

Monday, November 8, 2010

Pretoria - President Jacob Zuma is expected to promote the interests of developing countries and Africa in particular when he leads a South African delegation to the fifth G20 Leaders Summit.

The summit, scheduled to take place in Seoul, Republic of Korea, will run from 11 - 12 November.

It is the second such meeting of the G20 for 2010 following the June Summit in Toronto, Canada.

South Africa seeks to strengthen multilateralism within the G20, with the ultimate goal of ensuring fair and effective responses to the challenges confronting the world today. It also believes that a global response is required to counter the impact of the global economic and financial crisis, and limit its effects on emerging and developing countries, in particular in Africa.

This particular summit will focus on:

 building a framework for strong, sustainable and balanced growth,
 strengthening the International Financial Regulatory System
 Global Financial Safety Nets
 modernising the international financial institutions

The Republic of Korea will also be hosting a business summit. It is expected that 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.

President Zuma will be accompanied by Finance Minister Pravin Gordhan and other senior government officials.