Unilateral trade practices have 'detrimental impact' on nations: S African Prez Ramaphosa at UN

Johannesburg, Sep 24 (PTI) Unilateral trade practices and economic coercion have a "detrimental impact" on many nations, South African President Cyril Ramaphosa has said in a carefully-tempered dig at the tariffs imposed by US President Donald Trump on various countries.

In an address at the UN General Assembly on Tuesday, Ramaphosa called trade one of the most important instruments to mobilise domestic resources for development.

"It is concerning that geopolitical shocks and unprecedented trade policy volatility are destabilising the global economy and jeopardising a critical source of development financing. We must redouble our efforts to strengthen the link between trade and development,” Ramaphosa said.

In reference to the imposition of tariffs on dozens of countries by the Trump administration, he said, "Unilateral trade practices and economic coercion have a detrimental impact on many nations.” “In the midst of global trade uncertainty, the African continent is providing a pragmatic example of constructive collaboration by using the African Continental Free Trade Area as an engine for sustainable growth and development. This will, with commitment, become the central pillar of economic cooperation and integration for our continent,” he said.

Ramaphosa also said that the United Nations Security Council has proven ineffective in its current form and composition in carrying out its Charter mandate to maintain international peace and security.

“South Africa remains deeply concerned by the erosion of the credibility of the Security Council and its failure to ensure accountability and uphold international law," he said.

Ramaphosa called for a "stronger and more capable United Nations, based on a renewed commitment to its founding principles".

"We must invigorate the negotiations on Security Council reform at the Inter-Governmental Negotiations in the General Assembly, including by initiating text-based negotiations. The Security Council must be more accountable, representative, democratic and effective in executing its mandate,” Ramaphosa said. PTI FH GRS GRS GRS