Ramaphosa calls for global trade with partners to 'remain free and predictable'
Ramaphosa writes in his latest newsletter that global trade has to be governed by a 'rules-based system', adding that trade between nations is critical in the economic progress of countries.
President Cyril Ramaphosa addressed the G20 Finance Ministers and Central Bank Governors' Meeting at the CTICC in Cape Town on 26 February 2025. Picture: @PresidencyZA/X
CAPE TOWN - President Cyril Ramaphosa has called for global trade with partners to "remain free and predictable".
Ramaphosa wrote in his latest newsletter that global trade had to be governed by a "rules-based system", adding that trade between nations was critical in the economic progress of countries.
He said that South Africa would continue advocating for a "level playing field" in global trade.
Ramaphosa’s statement on trade in his newsletter comes after the United States (US) government slapped several countries with massive tariffs, before President Donald Trump paused the decision for 90 days.
While the uncertainty remains in economies around the world, including South Africa’s G20 partners, Ramaphosa said that global trade had to be predictable and governed based on rules, especially for developing economies.
He said this was because many of these economies remain locked in the "lower end" of global value chains.
Ramaphosa wrote that South Africa also endorsed the reform process currently underway in the World Trade Organization (WTO) that addresses deficiencies in global trade that don’t favour developing nations.
But he said that South Africa remained committed to maintaining "favourable relations" with its existing partners, while continuing to forge new ones.