Turkey assumed presidency of G20

Turkey assumed the presidency of the Group of 20, with a membership covering from Germany to South Korea. Noting the assumption of the presidency after a busy preparation period, the Deputy Prime Minister Ali Babacan said “Presidency is an elected position. It is not possible to get elected, even if only a single country opposes the election. 2 years ago, we worked diligently for election to the presidency, and lobbied thoroughly, discussing the potential with many of the members.”

SUSTAINABILITY

Babacan noted the major topics on the agenda of G20 as strong sustainable and balanced growth, infrastructure investments, financial regulation, international financial structure, international taxation, energy, trade, employment, development, financing of climate change, and the fight against corruption. Ali Babacan emphasized 3 keywords to describe Turkey’s presidency: “inclusion”, “implementation”, and “investment”.

INCLUSION

Noting a two-pronged perspective regarding inclusion, Babacan argued that they would be working first on policies to increase labor productivity at a global scale, hence questioning why the labor’s share of GDP is in a falling trend, and added that, in this context they would have a special emphasis on the problems of SMEs, which play a major role in reducing unemployment. He also mentioned the diligent efforts they will put in the work to increase the employment of women and youth.
Babacan also pointed at the problems of developing countries in the low-income group on the international scale, as the second dimension of inclusion.

IMPLEMENTATION

Underlining their will to focus on the implementation of growth strategies already in the agenda of G20, Babacan said “we will work hard to ensure implementation regarding the action plans to ensure financial regulations and international tax reform, and transparency, as well as the major decisions taken in other fields. We will oversee implementation.”

INVESTMENT

Babacan noted their intent to identify the infrastructure investments required to increase the growth potential of economies, and to realize such investments through the application of optimal finance models. He also pointed out that investments are crucial not only for developing countries, but also for developed ones. Babacan noted that the 10th summit of G20 would be held next year, on November 15-16, in Antalya.

B20’S SIGHT SET ON SMEs

The presidency of G20’s business world (private sector) arm, B20, was assumed by Rifat Hisarcıklıoğlu, the President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB). Hisarcıklıoğlu said “Turkey’s single most important contribution to B20 will be the formation of a new task force in the ‘SMEs and Entrepreneurship’ area. We will ensure that B20 is no longer under the monopoly of large corporations and multinationals. The SMEs need the support of G20”.

29 Eylül 2015 Salı

Etiketler : English