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Well, President Ramaphosa, let me start by thanking you for hosting us here, the first G20 on African
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soil, which is a proud moment for South Africa, but one that in my view is long overdue. So let's
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make this summit count. It's striking listening to the contributions that across our different
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corners of the globe, we're all concerned to achieve the same thing for our citizens
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Good jobs, lower bills, higher growth, better living standards. And that is what my government
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is focused on. And we want to work with our partners around the table to make that happen
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But there's no doubt the road ahead is tough. This is a moment of mounting competition and crises
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around the world, and that I think has been mentioned by pretty well every contribution
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so far. Fragility in the Middle East, rising threats of authoritarianism and fragmentation
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as well as Russia's ongoing unjustified war in Ukraine. The shockwaves of that invasion
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are still reverberating through global markets today. It has hit growth, driven up food and
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energy prices and deepen persistent imbalances and instability across the world With all that in mind and echoing what others have said the role of the G20 is critical at this moment
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Growth must be a mission for us all to embrace as the means to improve lives, to fund public services
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and to keep our people secure. The G20 has worked together before
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to fix fundamental problems in the global economy. We need to find ways to play a constructive role again today
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in the face of the world challenges. And I'd like to see us come together around a five-point plan
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for growth that leaves no one behind. First, we do need to tackle global imbalances
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like excessive surpluses and deficits, which can disrupt trade flows, sever supply chains and choke off growth
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For deficit countries, that means acting to stop unsustainable borrowing and prioritise the investment and structural reforms that drive up growth
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For surplus countries, it means taking action to reduce subsidies and other trade distortions
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as well as measures to boost domestic consumption. Second we should promote open and balanced trade taking steps to liberalise trade where we can with new agreements that lower tariffs and barriers and return to the stability and certainty that business needs This is a real priority for my government and I proud of the agreements
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we've reached and the progress that we've made with partners like India and the EU
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benefiting our economies and creating new opportunities for our people. third in an era of instability we need to make our economies more resilient in the UK this means
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an unshakable commitment to fiscal discipline and it means investing in growth in critical areas
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like clean energy production we want to work with partners around the world on this
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to protect us all from future energy shocks and we want to act together to secure vital
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supply chains, including for critical minerals. Fourth, we need to reform the international
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rules-based system so that it is fit for the modern world. We need to work together to ensure
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organizations like the WTO are more able to be agile with new rules to meet modern challenges
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like environmental and digital trade and better and more flexible decision-making processes
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so that those who want to make progress can get on and do it Finally we do need to work together to tackle the unique challenges facing emerging economies especially in africa whether it the growing debt burden or the financing gap for the sustainable
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development goals this g20 is the moment to respond to these structural challenges
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and to deliver more stable and resilient finance. We're working on that through the London Coalition on Sustainable Debt
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We need to go further under the G20 Common Framework to make debt restructuring better, faster and easier
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And we need to crowd in more private capital. We're working with the industry to break down regulatory barriers in the United Kingdom
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and we want to see multilateral development banks take more risk and partner more with the private sector in new innovative ways to mobilise finance
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AJ and I have been discussing this in some detail and I think we agree there's huge potential for this to go further
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For the good of all our people, it is time to make it happen
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so let me thank you once again president ramaphosa for your presidency of this g20
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i wish the us the best of luck next year in 2026 and i look forward to taking forward the agenda
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during our presidency in 2027 thank you
