Johannesburg: President Cyril Ramaphosa has called upon the leaders of India, Brazil, and South Africa (IBSA) to strengthen South-South cooperation with the aim of promoting inclusive economic growth, advancing sustainable development, and expediting reforms in global governance institutions.
According to South African Government News Agency, President Ramaphosa emphasized the importance of revitalizing IBSA’s interactions and renewing commitments to the bloc’s foundational goals during a high-level meeting with India’s Prime Minister Shri Narendra Modi and Brazil’s President Luiz In¡cio. This meeting took place on the sidelines of the G20 Leaders’ Summit in Johannesburg.
IBSA is a collaborative forum uniting India, Brazil, and South Africa-three sizeable democracies and major economies from distinct continents that face similar challenges. The forum was created to enhance South-South cooperation, coordinate stances on global issues, and foster trilateral partnerships.
President Ramaphosa highlighted the necessity for the IBSA bloc to champion ambitious reform of global governance institutions. He stressed the importance of reinvigorating commitments to climate action, deepening cooperation on just energy transitions, and ensuring equitable distribution of technological progress. He also underscored the need for IBSA to play a pivotal role in establishing a more representative and responsive multilateral system.
Addressing the structural disparities in the global economy, President Ramaphosa argued that the widening gap between the rich and the poor, along with increasing poverty and underdevelopment, requires a paradigm shift towards inclusive economic growth. He cited the IBSA Fund as a demonstration of the practical value of their association, particularly in aiding those most in need.
President Ramaphosa expressed enthusiasm about the forthcoming collaboration agreement on foundational learning, which builds upon a prior agreement signed by the three IBSA Education Ministers. He also highlighted the significance of hosting the G20 Summit on African soil, under the theme ‘Solidarity, Equality and Sustainability’, marking a milestone for South Africa.
He stressed that the rapidly changing global landscape necessitates active participation from IBSA countries in shaping the global agenda. He affirmed that IBSA exemplifies the strength of diversity and the necessity of collaboration among equals for global peace, prosperity, and stability.
The G20, encompassing major global economies, accounts for 85% of global GDP, 75% of international trade, and two-thirds of the world’s population. It includes 19 countries, the European Union, and, since 2023, the African Union.