Johannesburg – EU Commission President Ursula von der Leyen pressed global leaders to strengthen cooperation on trade and economic stability during today’s opening session of the G20 Summit in Johannesburg, the first time the gathering has been hosted on African soil.
She expressed appreciation to President Cyril Ramaphosa for welcoming delegations and said the meeting marks a significant moment for the continent as it steps further into global economic leadership.
Von der Leyen told leaders that uncertainty within global markets has surged, noting that the World Uncertainty Index has doubled since the start of the year. She warned that this rise is already discouraging investment and affecting economic prospects across regions. While the IMF projects global growth to remain slightly above three percent in the coming years, she said this sense of resilience is threatened by widening external imbalances.
She pointed to the disparity between some countries’ share of global manufacturing and their share of global consumption, saying such gaps cannot be resolved through trade instruments alone. According to her, the world needs coordinated action driven by institutions such as the IMF, World Bank and World Trade Organisation to address the domestic policies that fuel these distortions.
Von der Leyen said Europe is committed to restoring a fair trading environment centred on the WTO and is open to the comprehensive reforms needed to modernise it. She added that the EU is deepening engagement at the G20 and has started a structured dialogue with the members of the Comprehensive and Progressive Trans Pacific Partnership to strengthen cooperation.
She outlined the EU’s expanding network of trade agreements, already the world’s largest, and said recent deals with Mercosur, Mexico and Indonesia further extend its reach. Negotiations continue with India, Australia, Thailand, the Philippines, Malaysia and the UAE.
Von der Leyen also noted that the EU and South Africa have concluded a Clean Trade and Investment Partnership aimed at supporting projects in green hydrogen, renewable energy and critical raw materials. She said the partnership opens opportunities for building reliable supply chains that support sustainable development.
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