(MENAFN- Live Mint) Canada's Prime Minister Mark Carney believes the global economy can make progress on a range of issues, even without participation from the United States of America, amid President Donald Trump's boycott of the Group of 20 (G20) leaders' meeting in Johannesburg, South Africa, Bloomberg reported.

The remarks came after G20 host South Africa released a declaration from the meeting despite the US boycott. Carney added that consensus reached by leaders at the G20 meeting this weekend is significant, even without US participation, as per the report.

Also Read | Oyo Assets raises ₹125 crore funding from investors, including InCred: Details Why did US President Donald Trump boycott G20 meeting?

According to the report, Donald Trump said that US would stay away from this year's G20 meeting repeating a debunked claim that White Afrikaner farmers in South Africa are being subjected to a genocide. Washington said only a chairman's summary could be released from the gathering in the absence of the US.

Also Read | India gets new labour codes on minimum wage, gratuity, social security What did Canada PM Mark Carney say about G20 meeting, US absence?

Addressing a press conference on Johannesburg on 23 November, Carney said that the G20 summit“brought together nations representing three-quarters of the world's population, two-thirds of global GDP and three-quarters of the world's trade, and that's without the United States formally attending. It's a reminder that the center of gravity in the global economy is shifting.”

Carney took office earlier this year after running a campaign that pushed back against Trump's imposition of tariffs on its northern neighbor and suggestions it could become part of US territory. Carney has focused on reducing the Canadian economy's reliance on the US.

At the press conference, he detailed his attempts to strengthen ties with nations ranging from South Africa to India and China.

Also Read | G20 Summit: Modi holds bilateral talks with SA President Cyril Ramaphosa Canada strengthening ties with India, China, UAE, and more

After a 20 November meeting in Abu Dhabi with United Arab Emirates President Sheikh Mohamed bin Zayed, the Gulf country committed to investing $70 billion in Canada, Carney said, without providing details. That's the biggest investment pledge Canada has ever received.

“We're signing new deals and finding new investors to fuel our plans for Canada's economic ambition. We'll expand trade and catalyze investment in increased partnerships across a range of areas from AI to energy in the Indo-Pacific and Europe,” he said.

Carney said he is due to meet with PM Narendra Modi, in Johannesburg later on Sunday and they are working on improving strained relations. In 2023, Canada said Indian agents may have been involved in assassinating a Canadian citizen of Indian origin on its soil - an allegation New Delhi rejected.

Carney emphasized that he won't have his agenda dictated by Trump.

“I'll speak to him again when it matters. I don't have a burning issue to speak with the president about right now. When America wants to come back and have the discussions on the trade side, we will have those discussions,” he said.

(With inputs from Bloomberg)

Key Takeaways

• Canada PM Mark Carney noted that the G20 summit "brought together nations representing three-quarters of the world's population, two-thirds of global GDP and three-quarters of the world's trade, without the US formally attending. It's a reminder that the center of gravity in the global economy is shifting.”
• Carney added that Canada is signing new deals and finding new investors, with increased partnerships across a range of areas from AI to energy in the Indo-Pacific and Europe.
• At the press conference, Carney detailed his attempts to strengthen ties with nations ranging from South Africa to India and China.

MENAFN23112025007365015876ID1110384823