|Author (Corporate)||Turkey: Ministry of Foreign Affairs|
|Publisher||Turkey: Ministry of Foreign Affairs|
|Content Type||Key Source, News, Overview|
The Group of Twenty (G20) is the premier forum for its members’ international economic cooperation and decision-making. Its membership comprises 19 countries plus the European Union.
Finance Ministers and Central Bank Governors of the countries have met regularly during the year since 1999 to discuss ways to strengthen the global economy, reform international financial institutions, improve financial regulation and implement the key economic reforms that are needed in each member economy. Underpinning these meetings is a year-long program of meetings among senior officials and of working groups coordinating policy on specific issues.
In addition, since 2008 leaders of the countries now meet annually.
The challenges that now confront the global economy are less pressing and urgent than those faced at the height of the global financial crisis from 2008 but they are no less important.
In 2015, the global economy continues to produce far less than it would have if the crisis had not occurred; there are tens of millions fewer jobs and global trade growth is still too slow. While always remaining vigilant to risks and vulnerabilities, the G20 is now more focused on improving the future of the global economy.
The G20 is supported by international organisations, including the Financial Stability Board, the International Labour Organisation, the International Monetary Fund, the Organisation for Economic Co-operation and Development, the United Nations, the World Bank and the World Trade Organisation.
A terrorism attack upon locations in Paris on the 13 November 2015, which killed at least 129 people, and injured over 350, responsibility for which was caused by Islamic State, overshadowed the G20 Summit.G20 leaders met in Antalya, Turkey, on 15-16 November 2015. Donald Tusk, President of the European Council, and Jean Claude Juncker, President of the European Commission, represented the EU at the summit.
The world's leading economies adopted a comprehensive agenda including the implementation of past commitments, boosting investment to drive growth and promoting inclusiveness to ensure the benefits of their actions can be shared by all.
Following the brutal terrorist attacks in Paris on the 13 November 2015, G20 leaders also reaffirmed the need to work together to fight terrorism. G20 leaders adopted a statement highlighting the need to address:
+ the financing of terrorism
Leaders also agreed that the scale of the ongoing refugee crisis was of global concern with major humanitarian, political, social and economic consequences. It needs a coordinated and comprehensive response to tackle both this crisis, as well as its long term consequences.
On 15 November 2015, they discussed development and climate change, the global economy, investment and employment strategies. In preparation for the Nov-Dec 2015 COP21 climate change conference in Paris, the EU urged all sides to overcome their differences for a legally-binding deal.
On the second day of the summit, financial regulations, the international tax agenda, anti-corruption actions, IMF reforms, trade and energy issues were discussed before the adoption of the Antalya Action Plan.
|Subject Categories||Justice and Home Affairs, Politics and International Relations, Security and Defence|
|Countries / Regions||Europe, Turkey|