(MENAFN) On Saturday, the Turkish president emphasized that reviving international commerce requires robust global cooperation, resilient supply chains, and innovative policy instruments.

Speaking at a G20 summit in Johannesburg, South Africa, Recep Tayyip Erdogan noted that the current global challenges impact not only the least-developed nations but all economies, highlighting a gradual decline in trade’s role in fostering worldwide economic growth.

He stressed the importance of reinforcing trade regulations in ways that foster development.

"We consider it important to strengthen international trade rules in a way that supports development and, in particular, to reaffirm our commitment to the principle of special and differential treatment under the World Trade Organization," Erdogan stated.

The Turkish leader pointed out that the overall global debt has climbed to 324% of the world’s GDP, whereas Türkiye’s debt remains around 89%.

He described this as an advantage, saying, "This relatively low level of indebtedness provides us with significant fiscal space both to accelerate structural transformation and to allocate additional resources for investments. Unfortunately, most low-income economies do not have this advantage."

Erdogan highlighted the difficult position of poorer nations, explaining, "These countries are effectively trapped between high financing costs and shrinking fiscal space."

He further voiced Ankara’s endorsement for debt restructuring practices that ensure fair and equal treatment, particularly for low-income countries.

MENAFN23112025000045017167ID1110384483