President Cyril Ramaphosa: Extraordinary BRICS leaders meeting

Your Excellency, President Lula da Silva,
Fellow BRICS Leaders,
Honourable Ministers,
Excellencies,
Ladies and gentlemen,
 
Let me start by thanking President Lula da Silva for convening this extraordinary meeting to discuss current global geopolitical and economic issues that affect the state of the world and its multilateral system. 
 
We are witnessing seismic shifts in global trade that present both challenges and opportunities in the re-ordering of the global economy. 
 
There is a shift from a unipolar to a multipolar world. 
 
This moment is marked by intensifying global competition and growing geopolitical tensions.
 
Unilateral tariff actions are contributing to an increasingly protectionist environment which poses great hardships and danger for the countries of the Global South.
 
The uncertainty of the new trading regime has already negatively affected employment levels in my own country South Africa and is an obstacle to our economic growth.
 
We are therefore supportive of meaningful BRICS initiatives that improve the resilience of our economies as BRICS countries and those of the Global South and also strengthen the global multilateral system.
 
Our focus is on strengthening and collaboratively diversifying our trade and investment partnerships with Africa, Asia, the Gulf, the Americas and Europe.
 
South Africa’s response is rooted in the promise of an African continent on the rise, a continent that is rich in talent, innovation, in resources and untapped potential. 
 
Our vision is of Africa that is the beating heart of global trade engaging the world not as a mere exporter of raw materials, but as a creator of value, a connector of regions and a catalyst for shared prosperity.
 
We are working with our fellow African countries to consolidate the African Continental Free Trade Area. 
 
South Africa remains firm that the multilateral trading system with the WTO and the United Nations at their core must be preserved until all member states are able to reach their developmental goals. 
 
Over the past 30 years, the WTO has worked to ensure a level playing field in global trade that is free, predictable and governed by a rules-based system. 
 
However, imbalances persist.
 
Developing economies remain locked into the lower end of global value chains. 
 
South Africa therefore reaffirms its support for the reform initiative being spearheaded at the WTO. BRICS countries must champion the reforms that are taking place at the WTO.
 
We must redouble our efforts to ensure that trade supports development. 
 
Global trade must work for all of us.
 
Eighty years ago, the United Nations was established to build a peaceful, prosperous and people-centred world arising from the devastation brought about by global conflict. 
 
We all pledged to uphold the pillars of peace, development and human rights underpinned by international law. 
 
Today, however, an increase in armed conflicts across the world, fractious geopolitical tensions, environmental catastrophe, the proliferation of trade wars and continued underdevelopment all threaten the security and economic well-being of humanity. 
 
This underscores the importance of continuing to strengthen the work of the entire United Nations system and the full implementation of membership-led mandates.
 
This is where BRICS countries should play a critical role in strengthening the multilateral system.
 
The challenges humanity faces today underscores the urgency of reform of the United Nations to ensure that it is inclusive, representative and fit for purpose.
 
BRICS countries have been at the forefront of reforming multilateral institutions.
 
The progress and economic dynamism of emerging economies is being undermined by disruption and chaos. 
 
New shocks to global trade patterns, international financing and critical minerals flows, along with the intensification of problems created by sovereign debt overhang and imbalanced tax regimes, are creating uncertainties for policymakers, consumers and companies.
 
As part of its G20 Presidency, South Africa has launched an Extraordinary Committee of Independent Experts on Global Wealth Inequality chaired by Nobel Laureate Professor Joseph Stiglitz.
 
The committee will deliver the first-ever report on global inequality to G20 Leaders since its inception.
 
The experts will report on the state of wealth and income inequality, its impact on growth, poverty and multilateralism, and present a menu of effective solutions for leaders.
 
As BRICS, we need to reflect on our role in shaping global growth, addressing global poverty and championing multilateralism.
 
We should use our growing voice to advance a global order that improves the lives of all the world’s people and safeguards the planet for future generations.
 
Let us shape a new paradigm of multilateral cooperation anchored in equity, sustainability and development, but also anchored in peace.
 
That is why South Africa supports the call by Brazil for a ceasefire in Gaza, a two-state solution and self-determination for the Palestinian people.
 
We must use our institutions to drive development across Africa and the Global South.
 
We must also use our collective voice to advance reforms to modernise multilateral development bank mandates and to better reflect the voices and priorities of developing economies.
 
We need to unlock scaled-up finance for the needs of the Global South and catalyse investments in early warning systems, resilient infrastructure, community-led adaptation and people-centred just transition pathways.
 
In recent months, we have been in firefighting mode as we deal with disruption and chaos.
 
We need to pivot from crisis management to strategic action, from emergency fixes to collective growth and development. 
 
I strongly believe that when BRICS countries unite in solidarity to co-create solutions, we unlock tangible mutual benefits for BRICS members and the broader Global South.
 
For South Africa, a BRICS Economic Partnership Strategy that contains a meaningful way forward on addressing the imbalanced structure of BRICS trade would send a clear message to the world that all BRICS members are committed to mutually beneficial trade that addresses the needs and interests of all its members. 
 
This global trading crisis provides a great opportunity for us to do things differently. 
 
A commitment on the part of all of us to sustainably address our various non-tariff barriers would position BRICS as a stable and predictable mutually beneficial trading partner amidst the current global disruptions. 
 
Let us conclude the BRICS Economic Partnership Strategy 2030 and focus on its implementation.
 
Let us demonstrate how consensus is built through negotiation and not through coercion. 
 
Compromise and trade-offs are the foundation of mutually beneficial outcomes that tangibly improve the lives of our citizens.
 
Let us undertake all these important actions together, in a spirit of partnership and solidarity.
 
I thank you.

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