Deputy Minister Zuko Godlimpi on South Africa's supports to World Trade Organisaiton reforms

South Africa supports WTO reforms that promote development - Deputy Minister Godlimpi

The Deputy Minister of Trade, Industry and Competition, Mr Zuko Godlimpi says South Africa supports the strengthening of the multilateral trading system and the World Trade Organisaiton (WTO) reforms that promote development. Godlimpi was speaking at the 14th BRICS Trade Ministers Meeting in Moscow, Russia yesterday.

"South Africa supports the strengthening of the multilateral trading system and the WTO reforms that promote development. Strengthening the rules-based multilateral system is essential, especially to protect developing countries against the interplays of power. We can use the system to pursue our shared development interests. It is important that we amplify our voice and build a critical mass that orients the multilateral trading system towards promoting development," said Godlimpi.

He added that the world was witnessing a growing tendency where developed countries are eroding critical principles in multilateral fora such as special and differential treatment in the WTO, and the Common but Differential Responsibilities and Respective Capabilities (CBDR-RC) in the United Nations Framework Convention on Climate Change (UNFCCC).

"Multilateralism today is under threat from global fragmentation as a result of geopolitical frictions. This fragmentation does not bode well for the resilience of global supply chains, and could set back the gains developing countries have made over the years. We need to push back, defend the foundational principles of these institutions, and strive for meaningful development outcomes," said Godlimpi.

He also emphasised the importance of building effective joint value chains (JVCs) for promoting industrialisation and enabling BRICS countries to integrate into the global economy on beneficial terms.

"On the African continent we have established the African Continental Free Trade Area (AfCFTA), and we should leverage the opportunities that the AfCFTA presents. The BRICS countries constitute Africa's largest trading partners and an important part of the continent's investment community. Our participation in BRICS has ensured that the African continent is well-positioned globally from an economic and investment perspective. South Africa will continue to use the BRICS platform to advance the developmental interests of Africa and promote the AfCFTA," he noted.

Godlimpi urged member countries to focus on a more balanced trade of higher value products in order to advance trade and investment within BRICS.

"We are of the view that cooperation on joint value chains should aim at diversifying production and supporting industrialisation objectives of the BRICS members and developing countries in general. South Africa encourages all BRICS members to work together to enhance mineral beneficiation - value addition of mineral resources closest to source for the decarbonisation goals, and to offer the world products it needs and not just raw materials," he added.

Citing the United Nations Trade and Development (UNCTAD) 2023 World Investment Report that noted that the BRICS countries are developing values chains in renewable energy, Godlimpi said there was a glimmer of hope. However, more needed be done.

The Deputy Minister of Trade, Industry and Competition, Mr Zuko Godlimpi speaking at the BRICS Trade Ministers Meeting in Moscow, Russia yesterday.

For media enquiries and interview requests:
Bongani Lukhele - Director: Media Relations
Tel: (012) 394 1643
Mobile: 079 5083 457
WhatsApp: 074 2998 512
E-mail: [email protected]

Public link

Please use the above public link if you want to share this noodl on another website.