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South Africa: G20 to Focus on Global Growth |
| Source: |
www.sanews.gov.za |
| Source Date: |
Tuesday, November 18, 2014 |
| Focus: |
ICT for MDGs
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| Country: |
South Africa |
| Created: |
Nov 18, 2014 |
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She co-chaired the ITEC – which is a structured mechanism aimed at improving trade and economic relations between South Africa and the Russian Federation – with Russian Minister of Natural Resources and Environment, Sergey Donskoy.
This as Cabinet announced on Thursday that President Jacob Zuma will travel to Brisbane for the G20 meeting that will be held from 15 to 16 November.
“Together, G20 countries have agreed to take concrete actions to promote collective growth ambition including the increase and investment in infrastructure, lift employment and participation in labour markets and enhance trade,” explained the Minister.
She further added that in order to achieve this, individual G20 member countries are developing a country-specific growth strategy that will form the basis of the proposed G20 Brisbane Action Plan to be submitted to the leaders for endorsement.
The G20 is the premier forum for its members' international economic cooperation and decision-making. Its membership comprises 19 countries plus the European Union.
“As the only African country represented in the G20 summit, South Africa’s membership provides an opportunity to influence key international policies that could have an impact on our economy, the region and the continent,” Minister in the Presidency for Performance, Monitoring and Evaluation, Jeff Radebe said at a post-Cabinet media briefing on Thursday.
A Brics meeting will also be held on the sidelines of the G20 where discussions will focus on the formation of the Brics Development Bank, said the Minister.
President Zuma is expected to lead a delegation of ministers, business and officials to the summit.
Nuclear agreement
Meanwhile, in September, South Africa signed an Intergovernmental Agreement on Strategic Partnership and Cooperation in Nuclear Energy and Industry with Russia.
The agreement lays the foundation for the large scale nuclear power plants (NPP) procurement and development programme of South Africa. This will be based on the construction of new nuclear power plants in SA with Russian Voda Voda Energo Reactors (VVER), with total installed capacity of up to 9.6 GW (up to 8 NPP units).
At a recent briefing, the department announced it was preparing for the procurement process.
At Friday’s briefing, the Minister said: “We will continue utilising the resources we have, be it using the uranium deposits to produce nuclear energy for peaceful means. We will look at shale gas. We will continue utilising our coal. We will look at solar energy and wind and all that which is available to us to fully realise the full potential of our economy. We need to focus on the provision of energy.
“In our quest to make use of the resources, [the two countries] have agreed that nuclear energy is one sector that we should be looking at.
“In September, South Africa and Russia signed an agreement of strategic partnership in nuclear energy. The signed agreement provides for comprehensive collaboration in various areas in nuclear power,” she said.
Minister Nkoana-Mashabane also confirmed that the country has more than 30 young South Africans who are studying in various fields, including nuclear energy, in Russia.
Speaking through an interpreter, Donskoy said Russia has capabilities to assist South Africa with its nuclear build programme and that it could help with aspects like skills development and localisation.
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South Africa: G20 to Focus on Global Growth The focus of the upcoming G20 meeting in Australia will be on measures to raise global growth says International Relations and Cooperation Minister Maite Nkoana-Mashabane “The main focus for this summit will be on the development of new measures to raise global growth by implementing policies aimed at lifting Group of Twenty G20 members’ GDP Gross Domestic Product by more than 2%,” the Minister said on Friday She was responding to a question following the 12th session of the Intergovernmental Committee on Trade and Economic Cooperation ITEC with Russia in Pretoria
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