Opening address by Minister Donohoe at DFA event to mark Ireland’s participation in the G20

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Ambassadors,

Dear friends,

Welcome everyone.

I am delighted joining the Tánaiste today to formally launch Ireland’s participation in the G20. This location, Iveagh House, has been at the heart of our international diplomatic relations for many decades and Ireland’s participation in the G20 is, I believe, testament to the strength of those relations.

It is our pleasure to be joined today by distinguished guests from the G20 community and from the South African G20 Presidency – Director of OECD Global Relations and the OECD Sherpa to the G7, Andreas Schaal, and Her Excellency, Nicolette Schreiber, Ambassador of the Republic of South Africa.

At the very outset, I want to thank the South African G20 Presidency for this most valuable invitation to Ireland to participate at the G20 – it is highly appreciated and supported across the Irish Government.

Ireland has deep economic and political relations with South Africa, and our partnership this year will serve to strengthen these ties.

Ireland is fortunate to now join a relatively small grouping of guest member countries invited to the G20, and the invitation from South Africa marks our first time participating in this important and influential international forum.

We have of course attended G20 meetings in our capacity as EU Presidency back in 2013 and will expect to do so again in the latter half of 2026. The EU has a very strong and active role in the G20, but it is a particular privilege to represent your country and demonstrate Ireland’s values and priorities throughout the coming year.

It is a traditional duty of guest members at the G20 to be of support to the Presidency which invited them to participate – and through the South African Ambassador, I commit to doing exactly that.

We attend with many fellow EU member states and EU institutions and we too will work closely with them to promote common EU objectives within the G20.

The G20 addresses issues of global importance, from economics and finance to sustainable development and climate change – while outside of the individual policy topics, I think we can all agree that a major benefit of the G20 is the multilateralism that it spearheads and protects.

In a time of increasing geopolitical tensions, polarisation, and economic fragmentation – bringing countries together with different economic and social backgrounds, to find common purpose and solutions – is invaluable.

The G20 priorities under the South African presidency are ‘Solidarity, Equality, Sustainability’ – and Ireland as a guest country will work constructively to support these goals through our participation this year.

It is very clear in the communication from the South African Presidency, how important the principle and essence of the South African word ‘ubuntu’ is – in the Presidency’s work this year. I understand that one of the meanings of ‘ubuntu’ is the principle of connectivity and, that through mutual respect and collaboration, we can achieve extraordinary things.

Ireland fully supports this message.

Indeed, in Ireland we too have a phrase in Gaeilge “Ní neart go cur le chéile” which means there is no strength without unity.

We look forward to demonstrating to the G20 Presidency and to our international partners our commitment to working collaboratively to achieve our mutual goals.

I know the Tánaiste will speak to the full breadth of the G20 agenda.

For my part, at the end of the month I - alongside Governor Makhlouf of the Central Bank of Ireland - will have the privilege of representing Ireland at the South African Presidency’s first meeting of Finance Ministers and Central Bank Governors in Cape Town. As we prepare for that meeting, I am conscious that it was the economic challenges of recent decades that brought about the very establishment of the G20 – in particular the Asian financial crisis of the late 1990s. It expanded its work further in the global financial crisis ten years later, making a vital contribution.

As I said earlier, the very bringing together of states and organisations representing at least 85% of global GDP and 75% of global trade is valuable in itself – but the G20 has made a real practical difference over its 25 years. Among its earlier acts was the creation of the Financial Stability Board, or ‘FSB’, which does vital work in identifying financial vulnerabilities and guiding global responses. This was a key step as we sought to learn lessons from that crisis.

It is the G20 as well which has been provided the leadership Ireland had long been calling for in terms of global action on international tax reform. On the basis of this leadership, a mandate was given to take this work forward by the OECD who brought both their expertise and their objectivity to bear.

That work – inspired and guided by the G20 – led to the OECD marshalling important global agreements in recent years. As Minister for Finance in the years after 2017, I worked with my officials to ensure maximum Irish influence on this process and was satisfied to sign up to these agreements and, in particular, the 2021 agreement on the two pillared solution.

It goes without saying that the global environment has changed, and on this issue and many others, the G20’s leadership will be crucial. The G20 will play a key role over the coming months in trying unlock an acceptable way forward which protects the significant progress that has already been made, addresses the concerns raised and supports the continued adoption of these important rules globally. It is only through effective cooperation globally that we can avoid harmful fragmentation and bring much needed stability.

I know the OECD Sherpa and his team will be presenting an important assessment and stock take of the global tax reform progress to G20 ministers in the coming months. This is hugely important work given the current uncertainty that exists and we look forward to taking it forward in a positive manner in the period ahead.

In terms of the other elements of the G20 finance track, my officials have already productively engaged on specific G20 work streams relating to inclusive economic growth, international financial architecture; sustainable finance; global financial issues and the cost of capital for developing economies.

As a small open economy, with deep international connections, added with our own economic experiences of recovery and resilience - Ireland will productively participate in and contribute to the G20 Finance Track. Although we are a small country, we are bringing our experience and expertise in areas ranging from financial services to financial literacy and the importance of international financial institutions.

Ambassador, ladies and gentlemen,

I know South Africa, we and many others share a concern about global fragmentation at this time. It is a time to assert in every way we can our belief in a rules-based international order.

This is why Ireland is honoured to be invited to join the G20 and why I and my department are “all in” with the Presidency’s agenda for the coming year. It is another example of Ireland being active and influential on the global stage, whether it is at the EU, UN or any other place that counts. I have the privilege of being President of the Eurogroup, which in turn involves me representing the Eurogroup at the G7 group of Finance Ministers. We believe passionately in our participation in the multilateral sphere and I look forward to being at the G20 table in the coming weeks and months.

Ladies and gentlemen, you will hear from the Tánaiste shortly about his own work and I know you have a very interesting panel session ahead of you just now. I am sure this will be a thought provoking discussion and I wish you all the best.

Thank you.