It suggests that African economic development should be seen as central to the G20 objectives, both in terms of legitimacy and as part of the G20’s efforts on global rebalancing. Both the G20 core actions and the G20’s development agenda can positively affect African growth. The paper also contains case studies of African regional economic integration, South African outward foreign direct investment (FDI) in Africa and export processing zones (EPZs) in Africa to illustrate how the G20 could help.
The paper focuses on relevant G20 actions in three areas:
- The G20 development agenda, which focuses on growth;
- The G20 core agenda; and
- G20 process issues.
So far, the development agenda has focused on pillars of economic growth identified in the Korean scoping paper, narrowing down the multiyear action plans for development in each of these pillars. It has not generated a geographical focus, unlike the G8, which did have an Africa focus in its approach towards development.