President Jacob Zuma has arrived in Hangzhou, China, to attend the G20 Leaders’ Summit.
President Zuma will engage in talks at the summit, which kicks off on Saturday, over the work of the G20 this year, which had adopted the overarching theme of ‘Towards an Innovative, Invigorated, Interconnected and Inclusive World Economy’.
South Africa is a member country of the Group of 20 (G20), which consists of 19 countries, with the European Union being the 20th member. South Africa’s participation in the G20 is aimed at advancing the national agenda, which is creating a better South Africa and contributing to a better and safer Africa and a better world.
The country’s participation in the G20 is to provide strategic foresight in establishing an economic and international policy platform that will drive and negotiate the best possible outcomes for South Africa, Africa and the developing world.
According to the Presidency, South Africa’s priorities in the G20 for 2016 include strong, sustainable, balanced and inclusive growth, decent employment, efficient and responsive economic infrastructure, increased investment in infrastructure, reducing illicit financial flows through coordination of international tax and financial regulatory developments.
Given that development is an important priority for South Africa in the G20, South Africa serves as co-chair of the G20 Development Working Group (DWG).
“An important informal meeting of the BRICS leaders will take place on the margins of the G20 to take forward the agenda of this important forum ahead of its summit in Agoa, India next month,” said the Presidency.
G20 members have been meeting regularly since 1999 to discuss global economic policy coordination. The G20 was conceptualised to stabilise and strengthen the global economy by bringing together the major advanced and emerging market economies.
President Zuma is accompanied by the Minister of International Relations and Cooperation Maite Nkoana-Mashabane and Finance Minister Pravin Gordhan to the G20.
At the conclusion of the G20 Summit on Monday, President Zuma will travel to Guangzhou in Guangdong Province, where he will attend the 2nd Investing in Africa Forum on 7 September 2016.
He will be joined by the Minister of Trade and Industry, Dr Rob Davies and the Deputy Minister of Transport, Sindi Chikunga.