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G20 summit 2015: Highlights of the event

November 19, 2015International AffairsShamika Dixit

The 2015 G-20 Antalya summit was the tenth meeting of the G-20 heads of government. It was held in Antalya, Turkey on 15-16 November 2015. The venue for the Leaders Summit was Regnum Carya Hotel Convention Centre.

Turkey officially took over the presidency of the G-20 from Australia on 1st December 2014.

Next year China will preside over the summit.(2016)

G20 Members

The G20 membership comprises a mix of the world’s largest advanced and emerging economies, they represent about two-thirds of the world’s population and 85 per cent of global gross domestic product and over 75 per cent of global trade.

The Members of the G20 are:

1 Argentina
2 Australia
3 Brazil
4 Canada
5 China
6 France
7 Germany
8 India
9 Indonesia
10 Italy
11 Japan
12 Republic of Korea
13 Mexico
14 Russia
15 Saudi Arabia
16 South Africa
17 Turkey
18 the United Kingdom
19 the United States
20 the European Union

Each year the G20 president invites several “guest countries” to participate in G20 events and “contribute to the agenda”. G20 members engage with guest countries and other non-member countries to ensure the G20 reflects a broad range of international opinion.

In 2015 Turkey had invited “Spain” as a permanent invitee; “Malaysia” as the 2015 Chair of the Association of South-East Asian Nations (ASEAN); “Zimbabwe”, as 2015 Chair of the African Union; “Senegal” representing New Partnership for Africa’s Development (NEPAD); “Azerbaijan”; and “Singapore”.

The G20 also regularly engages with non-government sectors. Engagement groups from business (B20), civil society (C20), labour (L20), think tanks (T20) and youth (Y20) are holding major events during the year, the outcomes of which will contribute to the deliberations of G20 leaders.

Agenda of 2015 G20 summit

The G20 Presidency rotates annually according to a system that ensures a regional balance over time.

Reflecting its nature as an informal political forum, the G20 does not have a permanent secretariat. Instead, the G20 president is responsible for bringing together the G20 agenda in consultation with other members and in response to developments in the global economy.

To ensure continuity, the presidency is supported by a “troika” made up of the current, immediate past and next host countries. During Turkey’s presidency, the members of the G20 troika were Turkey, Australia and China.

Three pillars of the 2015 agenda:

1. Strengthening the Global Recovery and Lifting the Potential

  • Discussions on the necessary policies to raise the pace of global growth.
  • These discussions had a particular focus on macroeconomic policy cooperation among the G20 countries, which is
    clearly the greatest value-added of the Platform.
  • To strive to lift the growth potential of economies and major instruments to this end will be boosting the
    investments, especially closing the infrastructure investment gaps, increasing employment and promoting trade, along with the appropriate macroeconomic policy mix.
  • Implementation of the policies set out in ambitious growth strategies.

2. Enhancing Resilience

  • Focus on healthy and stable financial system, an effective and efficient international financial architecture, a smoothly functioning and fair international tax system; and a fair and level playing field for businesses which are essential for the resilience of the global economy.

3. Buttressing Sustainability

  • To buttress sustainability in the global economy, focus on the issues of development, energy and climate change finance.
  • Central focus was on lifting prosperity across the globe, with a particular focus on supporting efforts to eradicate poverty and ensure sustainable development in LIDCs.
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