South African Trade and Industry Minister Ebrahim Patel is attending a two-day G20 ministers’ preparatory meeting in the Japanese city of Tsukaba starting on Saturday.
The G20 Joint Trade and Digital Economy Ministers and the G20 Trade Ministers’ Meeting are key international gatherings of countries involved in determining the future direction of international trade.
Patel’s participation to the meeting signals the redoubling of efforts to grow South Africa’s economy by deepening its links with key international partners and actively participating in shaping the Multilateral Trading System, the minister said before departure on Friday.
According to Patel, the trade ministers’ meeting will focus on the current international trade developments, the creation of enabling business environments to grow investments that contribute to sustainable and inclusive growth and developments in the World Trade Organisation (WTO).
He said the G20 trade ministers’ meeting was taking place at a time when the multilateral trading system was facing unprecedented challenges.
South Africa supports an inclusive, development-centred and rules-based multilateral trading system with the WTO at its core, he said.
“The trade ministers’ meeting has the potential for a constructive dialogue with our international partners to avoid a destructive trade war that could limit growth and creation of jobs in South Africa. A significant part of South Africa’s GDP performance is driven by trade,” Patel said.
On its part, the joint meeting of the Trade and Digital Economy Ministers would discuss the interface between trade and the digital economy, Patel said, adding that the digital and other new technologies were transforming the world economies — and South Africa must not be left behind.
NM/as/APA