Johannesburg: The Turkish president on Saturday emphasized the necessity of deep-rooted international cooperation, sustainable supply chains, and new policy tools to rejuvenate global trade. Recep Tayyip Erdogan, addressing a G20 summit in Johannesburg, South Africa, highlighted the challenges faced by the world today, which impact not only the least-developed countries but all economies. He asserted that the contribution of trade to global growth has diminished over time.
According to Anadolu Agency, Erdogan stressed the importance of fortifying international trade rules to support development, particularly reaffirming the commitment to the principle of special and differential treatment under the World Trade Organization. He highlighted Ankara's support for fair treatment in debt restructuring processes, especially for low-income countries, amid a global debt ratio reaching 324% of global GDP, compared to Trkiye's 89%.
Erdogan pointed out that Trkiye's relatively low level of indebtedness provides significant fiscal space for accelerating structural transformation and investing additional resources. However, he acknowledged that many low-income economies are trapped between high financing costs and shrinking fiscal space. He urged the G20 to take greater responsibility in building a more inclusive global economy, ensuring no one is left behind.
The Turkish president also expressed concerns over the anticipated decline in total global development aid, which fell to 9% in 2024 and may decrease by 17% in 2025, posing "significant losses" for Africa. Erdogan underlined Trkiye's focus on developing sustainable financing models, especially for the least-developed countries, by mobilizing local resources.
During the summit, Erdogan participated in a family photo with world leaders, briefly interacting with Japanese Prime Minister Sanae Takaichi and Indonesian Vice President Gibran Rakabuming Raka. The summit, a two-day event that began on Saturday, aims to address some of the world's most pressing challenges.
In his speech, Erdogan reiterated Ankara's commitment to global solidarity, as articulated by Trkiye's Communications Director Burhanettin Duran on Turkish social media platform NSosyal. Duran emphasized that Trkiye's approach of prioritizing humanitarian responsibility strengthens its position globally and contributes to sustainable development goals.