The Group of 20 (G20), comprising the world's largest economies, has taken a significant step by admitting the African Union (AU) as a permanent member during its annual summit held from September 9 to 10 in New Delhi, India. This inclusion marks a pivotal moment for Africa, positioning the continent more prominently in global economic discussions.
The proposal to include the AU was initially put forward by United States President Joe Biden on December 15, 2022. Biden emphasized that the move was aimed at strengthening ties with Africa, a region that has long been underrepresented in major international forums. India's Prime Minister Narendra Modi reinforced this vision during the Business 20 meeting on August 27, highlighting India's role in creating efficient and trusted global supply chains amidst complex international economic dynamics.
Before the AU's inclusion, South Africa was the sole African representative in the G20, mirroring its position in BRICS alongside emerging economies like Brazil, Russia, India, and China. With the AU now part of the G20, the group's influence expands significantly, covering a larger portion of the global GDP, international trade, population, and landmass.
This expansion, sometimes referred to as the "G21," offers African nations a unique opportunity to deepen their integration into the global trade and economic systems. Supported by initiatives like the African Continental Free Trade Area, which boasted a collective GDP of around $3 trillion in 2022 and a market of over 1.3 billion people, the AU's participation in the G20 is expected to help African products gain greater access to global markets.
As Africa steps into a more central role on the international stage, the collaboration within the G20 promises to drive significant economic growth and development across the continent, fostering a more inclusive and balanced global economy.
Reference(s):
cgtn.com
