G20 Summit | G20 is a very important engagement: Peschke

The article is a transcript from an SABC News interview with Germany's Ambassador to South Africa, Andreas Peshka, during South Africa's historic G20 presidency—the first time the summit is hosted on the African continent. The discussion highlights the summit's broad, inclusive approach, engaging civil society, business, media, and think tanks like the T20, with over 160 high-level meetings, 30 ministerials, and a social summit with 5,000 participants. Despite geopolitical challenges, including steep US tariffs (30% on South Africa, 50% on India and Brazil, 15% on the EU), South Africa successfully built consensus on key issues like climate finance, critical minerals, decent work, and AI, culminating in a leaders' declaration affirming deliverables. Peshka praises the implementation focus and all-of-society accountability. Germany strongly supports South Africa's leadership, reaffirming bilateral and EU-South Africa partnerships amid global trade tensions. Key outcomes include the signing of a new Clean Trade and Investment Partnership, committing €12 billion from the EU to boost investments and address obstacles; Chancellor Olaf Scholz's announcement of a €37 million investment in African trade and development insurance to mobilize up to $500 million; and the renewal of the Compact with Africa initiative (co-chaired by Germany and South Africa) as 'Compact with Africa 2.0,' integrating new members and linking with entities like the B20, African Union, and World Bank to enhance private investment conditions. The leaders' declaration thanks South Africa and commits to collaboration under the upcoming US (2026), UK (2027), and South Korea (2028) presidencies, within the G20 troika framework involving South Africa, the US, and the UK. Overall, the summit underscores sustainability, reliable partnerships, and a rules-based global order, with implications for advancing African priorities and countering trade barriers through strengthened economic ties.