Trade inequalities a SA G20 focus - DTIC

Speaking at the Gauteng launch of the G20 Dialogue Programme on Tuesday, the DTIC Director for Multilateral Organisations, Sudhir Sooklal, said there would be a focus on four priorities.

These are aimed at addressing global trade inequalities and fostering inclusive growth.

Sooklal said one of the biggest challenges facing South Africa’s presidency would be navigating the shifting global trade landscape, particularly disruptions caused by the Trump administration in the United States.

"One of the biggest difficulties we're going to face during our presidency is what I would call a curveball... and that is the US upending everything that we know as the multilateral trading system, as well as the global economic and political arena," he said.

He said the first priority is trade and inclusive growth, as rising inequality and political shifts worldwide highlight the need for fairer economic policies.

"Green industrialisation is another key focus, with an emphasis on local beneficiation, technology transfer, and skills development to ensure economic benefits reach all citizens,"

Sooklal added that South Africa aimed to table a set of principles on this issue for G20 adoption.

"Everyone agrees that the WTO should be reformed, but it's the how and the what that there is no agreement. Developed countries simply want to address intellectual property and investment guarantees, while refusing to reform global agricultural markets.

"The final priority is addressing global commons, including climate change and the digital economy. South Africa is particularly concerned about unilateral measures by developed nations, such as the EU’s Carbon Border Adjustment Mechanism, which could have significant implications for trade," he said.

Despite the non-binding nature of G20 agreements, Sooklal says the outcomes hold weight in shaping international trade policies.

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