St. Petersburg: South Africa has expressed strong support for the inclusion of more voices from the Global South at the St. Petersburg International Economic Forum (SPIEF), emphasizing the importance of this global platform for fostering economic cooperation and inclusive growth.

According to South African Government News Agency, Deputy President Paul Mashatile highlighted the forum’s evolution from a primarily Russian and Eurasian platform to a global meeting point for leaders and policymakers. “The SPIEF provides a space for emerging economies to shape global economic discourse, influence trade rules, and negotiate developmental priorities,” Mashatile stated during his address to the plenary session on Friday.

The Deputy President emphasized that the forum should amplify the aspirations and strategic interests of developing economies. His participation was part of a working visit aimed at strengthening economic and trade ties between South Africa and Russia. He lauded SPIEF’s ability to bridge geopolitical divides and promote dialogue beyond dominant narratives, enabling diverse countries to find common ground in promoting trade, innovation, and sustainable development.

With South Africa presiding over the G20 this year, the country has prioritized issues such as debt sustainability, global financial reform, and inclusive economic recovery. Mashatile underscored South Africa’s commitment to ensuring that global economic policy aligns with Africa’s Agenda 2063, promoting industrialization, regional integration, and the African Continental Free Trade Area.

The Deputy President also addressed the necessity of reinvigorating multilateralism, citing rising economic nationalism and collective challenges such as climate change and digital inequality. He called for a transparent, rules-based global trading system and accelerated reforms of institutions like the World Trade Organisation and the International Monetary Fund to reflect contemporary global realities.

Mashatile concluded by emphasizing that the future is being shaped in diverse regions across the globe, and he urged for investment in equitable and mutually beneficial partnerships. His call to action underscored the importance of SPIEF as a platform for shaping a sustainable future through dialogue and cooperation.