Check against delivery

And it is an honour for me to attend this first G20 Summit in Africa – under the able leadership of my friend, President Ramaphosa.

I commend South Africa for placing a special emphasis on the issue of inequality.

And I thank Professor Stiglitz for providing important input to our discussion – including the crucial observation that inequality is not a given.

Inequality is the result of policy choices. As such – it can be fought, including with:

  • A progressive taxation system
  • An effective welfare system covering everyone
  • And not least, measures that ensure equal opportunities for women and men.

Norway invests in equality because it is the best antidote to:

  • Exclusion,
  • Resentment,
  • Conflict,
  • and democratic backsliding.

And we invest in equality because it improves the lives of our citizens, and makes our economy stronger.

Let me give you an example from my country: Research shows that the increase in women’s participation in the workforce from the 1970s and onwards, has mattered just as much to our economy as our revenues from oil and gas.

Fellow leaders,

Rising inequality is a global challenge. It is factor in almost any issue we are dealing with – from war and climate change, to poverty and health. Inequality hampers development.

Therefore, we fully support the objectives outlined for the International Panel on Inequality.

And we concur wholeheartedly with the central message in the report: reducing inequality requires more international cooperation. Let me point out three priorities:

  1. We must implement the “Compromiso de Sevilla”. This comprehensive framework was agreed at the Fourth Financing for Development Conference. It provides a roadmap to address many of the issues also raised in the report by Professor Stiglitz.
  2. We have to make progress on WTO reform. Rule-based trade is crucial for economic growth and development. Multilateralism matters. It is on us to make sure that next year’s WTO Ministerial Meeting delivers, and that Director General Ngozi has the backing she needs.
  3. We should continue to strengthen the Multilateral Development Banks. Going forward they will be the main source of development finance. The G20 plays a special role in making sure they are fit for the task.

Colleagues,

Norway is a longstanding friend of Africa. We support the development aspirations of the people of this continent as spelled out by Trevor Manuel in his presentation.

I am therefore pleased to announce that Norway intends to contribute approximately 300 million USD to the African Development Fund replenishment for the period 2026-28.

I urge others to present generous pledges to this important fund. 

These are critical times, especially in Gaza, Sudan and Ukraine. We support peace in Ukraine. And no one wants peace more than the Ukrainians.

We welcome efforts for peace. But for peace to endure, it must be just. It must be rooted in international law, respect the basic tenets of the UN Charter, and provide for the future security of Ukraine, and all of Europe.

Thank you for your attention.