Durban: President Cyril Ramaphosa has called on BRICS nations to take the lead in strengthening multilateralism and reshaping global trade to better serve developing economies. Speaking at the virtual Extraordinary BRICS Leaders’ Meeting convened by Brazilian President Luiz In¡cio Lula da Silva, President Ramaphosa said the world was undergoing ‘seismic shifts’ in trade and geopolitics that carried both opportunities and risks.
According to South African Government News Agency, the extraordinary meeting was held to discuss current global geopolitical and economic issues that affect the state of the world and its multilateral system. President Ramaphosa highlighted the transition from a unipolar to a multipolar world, marked by intensifying global competition and growing geopolitical tensions. He warned that unilateral tariff actions were creating an ‘increasingly protectionist environment,’ posing significant hardships and dangers for countries of the Global South.
The President expressed concerns about the uncertainty of the new trading regime, which has already negatively impacted employment levels in South Africa and hindered economic growth. He emphasized the need for meaningful BRICS initiatives to improve the resilience of economies in BRICS countries and the Global South, and to strengthen the global multilateral system.
President Ramaphosa urged BRICS to enhance trade partnerships with Africa, Asia, the Gulf, the Americas, and Europe, while supporting reforms of multilateral institutions such as the World Trade Organization (WTO) and the United Nations (UN). He emphasized Africa’s potential in the global economy, envisioning a continent that is a creator of value and a catalyst for shared prosperity.
He reaffirmed South Africa’s support for WTO reforms, noting that developing economies remain locked into the lower end of global value chains. On the global stage, President Ramaphosa called for urgent reform of the United Nations to ensure it is ‘inclusive, representative and fit for purpose,’ and urged BRICS to play a critical role in strengthening the multilateral system.
Addressing ongoing conflicts, the President reiterated South Africa’s support for peace efforts in Gaza, backing Brazil’s call for a ceasefire, a two-state solution, and self-determination for the Palestinian people. Additionally, he announced the launch of an Extraordinary Committee of Independent Experts on Global Wealth Inequality under South Africa’s G20 Presidency, chaired by Nobel Laureate Professor Joseph Stiglitz. The committee will deliver the first-ever G20 report on global inequality, its impact, and solutions for leaders.
Looking ahead, President Ramaphosa emphasized the importance of moving ‘from crisis management to strategic action’ by finalising and implementing the BRICS Economic Partnership Strategy 2030. He advocated for a strategy that addresses the imbalanced structure of BRICS trade, sending a message of commitment to mutually beneficial trade that meets the needs and interests of all members.
He called on BRICS to demonstrate leadership through cooperation and consensus, advocating for negotiation and compromise as the foundation for mutually beneficial outcomes that improve citizens’ lives. The President concluded by calling for unity among BRICS nations, emphasizing partnership and solidarity in undertaking these important actions together.