South African President Cyril Ramaphosa today called on the G20, a group of developed and emerging countries, for multilateral cooperation among States in the face of unprecedented challenges.
For the South African head of state, the erosion of multilateralism represents a threat to global growth and stability.
Ramaphosa said the international order must be guided by fair, transparent and inclusive rules in order to achieve economic stability and sustained growth.
"The G20 was founded on the principle of cooperation. At this time of global uncertainty and escalating tensions, it is now more important than ever for G20 members to work together," Ramaphosa said at the opening of the first meeting of G20 finance ministers and central bank governors.
The G20 meeting that began today in Cape Town, under the South African presidency, will continue until Wednesday.
The meeting, which will focus on reforming the financial architecture, among other issues, is marked by the absence of US Treasury Secretary Scott Bessent.
The new protectionist measures decreed by the President of the United States are also at the center of attention of the participating countries.
Pretoria fears for the future of AGOA, the trade deal with Washington, as well as US funding for the Just Energy Transition Partnership (JETP), South Africa's energy minister said ahead of the summit.
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