Zuma commends G20 summit outcome
President Jacob Zuma has concluded his visit to Australia where he participated in the G20 summit, the presidency said on Sunday.
Zuma commended the outcome of the summit where the focus was a commitment to lift the G20's Gross Domestic Product (GDP) by at least an additional two percent by 2018.
"This year's G20 Summit was organised differently as it focused mainly on measures to achieve economic growth globally and to create jobs by lifting the world's GDP by two percent," Zuma said in a statement.
"Australia, as the current chair of the G20, has kept the agenda of the summit focused on issues related to the global economy, development, growth and trade."
Zuma added that during the summit, leaders from G20 member countries briefed their peers on developments in their respective regions and that South Africa provided an African perspective on a number of issues such as the global economy and trade, infrastructure development, inclusive growth, the global financial situation and combating the scourge of Ebola, among others.
"In order to sustain global growth, we need to, amongst others, accelerate infrastructure development, especially in Africa.
"This will help lift intra-Africa trade and contribute immensely toward enabling our continent to industrialise and to create jobs in high value sectors, so that Africa can produce value-added manufactured goods," he said.
The department of international relations said on Sunday that Brics (Brazil, Russia, China, India and South Africa) leaders met during the summit to discuss who would lead the New Development Bank (NDB).
"The leaders were informed about the progress in implementation of the work plan for the establishment of the NDB," it said in a statement.
"They asked their finance ministers to designate the president and the vice-presidents of the NDB well in advance of the next Brics summit in Russia.
"The leaders also announced the setting up of an interim board of directors that will lead the next phase establishing the NDB."
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