Turkey’s G20 Presidency
G20 Antalya Leaders Summit, held on 15-16 November 2015, delivered concrete outcomes with a special focus on inclusive growth and enhanced cooperation between G20 and low income developing countries.
Turkish G20 Presidency in 2015 focused on the concept of inclusiveness both within G20 countries and across the world. In Antalya, G20 Leaders committed to reduce youth unemployment, further improve gender inclusive economy, address rising inequalities and assist low income developing countries in their efforts to better integrate into the global economy. Turkish Presidency also highlighted the importance of implementing commitments of G20 members and improving investment infrastructure for economic growth. Special focus was also placed in 2015 on supporting Small and Medium Sized Enterprises (SMEs) in their efforts to better integrate into Global Value Chains and to access finance.
Key outcomes of the 2015 Antalya Leaders Summit include:
- Antalya Action Plan and Accountability Assessment Report were adopted by G20 Leaders in order to effectively implement adjusted growth strategies of G20 members to lift collective G20 GDP by additional 2% by 2018.
- G20 Leaders endorsed the G20 Policy Priorities on Labour Income Share and Inequalities in order to ensure inclusive and job-rich growth that benefits all segments of the society.
- G20 Leaders agreed to the G20 goal of reducing the share of young people who are most at risk of being permanently left behind in the labour market by 15% by 2025 in G20 countries.
- Ambitious country-specific investment strategies developed by G20 members were endorsed by G20 Leaders. These strategies bring together concrete policies and actions to improve the investment ecosystem and foster efficient and quality infrastructure. Analysis by the OECD indicates that these strategies would contribute to lifting the aggregate G20 investment to GDP ratio by an estimated 1% by 2018.
- G20 Leaders underscored the importance of promoting long-term financing for SMEs and supporting policies to better integrate them into the Global Value Chains. During the Turkish Presidency the World SME Forum was established to serve as a global body to facilitate the contributions of SMEs to growth and employment.
- G20 Leaders agreed to ask G20 Trade Ministers to meet on a regular basis and on a “supporting working group”.
- The package of measures developed under the G20/OECD Base Erosion and Profit Shifting (BEPS) project was endorsed by Leaders.
- G20 Leaders endorsed the G20 High-Level Principles on Integrity and Transparency in the Private Sector which will help G20 companies to comply with global standards on ethics and anti-corruption.
- G20 Leaders adopted the G20 and Low Income Developing Countries Framework to strengthen the G20’s dialogue and engagement on development. G20 countries also agreed to develop an action plan in 2016 to further align the G20’s work with the 2030 Agenda for Sustainable Development.
- As 2015 is a critical year for the global development agenda, G20 Leaders adopted high level documents on Food Security, Remittances and Inclusive Business to underscore the G20’s strong commitment on development issues. G20 Leaders also endorsed the establishment of a new platform to measure and reduce the global problem of food loss and waste.
- G20 Energy Ministers met for the first time ever during the Turkish Presidency and they agreed on a Communique. G20 Leaders adopted the G20 Action Plan on Access to Energy with a special focus on Sub-Saharan Africa. The aim of the action plan is to assist countries in tackling the global problem of lack of access to energy which affects 1.1 billion people across the world. Turkish Presidency also highlighted the importance of using renewable energy both within and beyond the G20.
- In Antalya, G20 Leaders discussed terrorism and refugee crisis as these issues pose serious risks to global peace and security as well as strong, sustainable, balanced and inclusive global growth. Leaders adopted the G20 Statement on the Fight Against Terrorism.