By Lehlohonolo Lehana.
PhotoCredit: Francesca Volpi.
Finance minister Godongwana says he isn’t expecting economic fallout from South Africa’s case against Israel at the International Court of Justice (ICJ).
South Africa’s lawsuit against Israel at the International Court of Justice (ICJ) in The Hague has been criticised by some of its biggest trading partners, including the US and the UK.
Godongwana spoke at Thursday’s pre-World Economic Forum (WEF) breakfast in Sandton.
He noted that he expects no hostility from investors and world leaders who will assemble at the event next week, chief of whom is the US – which remains one of South Africa’s key trade partners and Israel’s strongest ally.
“Since the dawn of democracy, the single most important area of disagreement between us and the Americans in the United Nations [UN] is the Israel-Palestine question,” said the minister.
“We’ve always been on the opposite ends when it comes to voting on that question. It’s historical. I don’t think [we’re] likely to find common ground on this issue with the Americans in particular. Let’s respect the different viewpoints amongst ourselves,” he added.
“So, as far as the court case is concerned, I do not know why people would have an attitude toward a country that uses multi-lateral institutions to settle disputes. Because the United Nations has set up those multi-lateral institutions for dispute settlement.”
“Why then would it be seen to utilise that dispute settlement mechanism – in this case, the court case South Africa has chosen, I don’t see anybody likely to make this an issue in Davos,” Godongwana said.
“We remain steadfast in carrying out structural reforms to support and accelerate economic recovery. As government, we remain resolved to deal with the energy and logistics challenges that are adversely impacting our economy,” he added.
This year’s meeting, which will take place from 15 to 19 January 2024, will focus on rebuilding trust.
The WEF annual meeting is seen by South Africa as a platform to promote itself as an attractive investment destination, and the nation is steadfast in its belief that its stance on international issues will not deter its investment plans.