2016 G20 Hangzhou summit : Avoid empty talks for economic growth

Hit Brother

8 years ago

The 2016 G20 Hangzhou summit currently the eleventh meeting of the Group of Twenty (G20). It is currently being held on 4–5 September 2016 in the city of Hangzhou . It is also the first ever G20 summit to be hosted in China and the second Asian country after 2010 G20 Seoul summit was hosted in South Korea.

2016 G

20 Members And Guests

The following leaders from G20 members, guest countries and international organizations will attend the summit at the invitation of President Xi Jinping: President Mauricio Macri of Argentina, Brazilian leader, President Francois Hollande of France, President Joko Widodo of Indonesia, President Park Geun-hye of the ROK, President Enrique Pena Nieto of Mexico, President Vladimir Putin of Russia, President Jacob Zuma of South Africa, President Recep Tayyip Erdogan of Turkey, President Barack Obama of the US, Prime Minister Malcolm Turnbull of Australia, Prime Minister Justin Trudeau of Canada, Chancellor Angela Merkel of Germany, Prime Minister Narendra Modi of India, Prime Minister Matteo Renzi of Italy, Prime Minister Shinzo Abe of Japan, Prime Minister Theresa May of the UK, President Donald Tusk of the European Council, President Jean-Claud Juncker of the European Commission, Deputy Crown Prince, Second Deputy Prime Minister and Minister of Defense Muhammad bin Salman Al Saud of Saudi Arabia, President Idriss Deby of Chad, President Abdel Fatah al-Sesi of Egypt, President Nursultan Nazarbayev of Kazakhstan, President Bounnhang Vorachith of Laos, President Macky Sall of Senegal, Prime Minister Lee Hsien Loong of Singapore, Prime Minister Mariano Rajoy of Spain, Prime Minister Prayut Chan-ocha of Thailand, UN Secretary-General Ban Ki-moon, World Bank President Jim Yong Kim, IMF Managing Director Christine Lagarde, WTO Director-General Roberto Azevedo, Director-General Guy Ryder of the International Labor Organization, President Mark Carney of the Financial Stability Board, Secretary-General Angel Gurria of the OECD, etc…

G20 Mission

The Group of Twenty (G20) is the premier forum for global economic and financial cooperation. It brings together the world’s major advanced and emerging economies, representing around 85 per cent of global GDP. Mexico hosted the G20 in 2012, Russia is hosting the G20 in 2013, and Australia will host in 2014.

The group was formally inaugurated in September 1999, and held its first meeting in December 1999. It worked as cooperation of finance ministers and central bank governors formed in the aftermath of the financial crisis of 1997-1998, which revealed the vulnerability of the international financial system in context of economic globalization and showed that key developing countries were insufficiently involved in discussions and decisions concerning global economic issues.

Contemporary format of G20 meeting in the form of summit attended by heads of state or government was established in 2008 with Washington D.C. meeting.

Objectives of the G20

1. Policy coordination between its members in order to achieve global economic stability, sustainable growth.
2. Promoting financial regulations that reduce risks and prevent future financial crises.
3. Modernizing international financial architecture.

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Logo and slogan of G20

The Third G20 Finance Ministers and Central Bank Governors Meeting in 2016 Held in Chengdu

The third G20 Finance Ministers and Central Bank Governors Meeting under the Chinese Presidency was held in Chengdu on July 23-24, 2016. The meeting was co-chaired by Mr. Lou Jiwei, Finance Minister of China and Mr. Zhou Xiaochuan, Governor of the People’s Bank of China. The meeting was also the last G20 Finance Ministers and Central Bank Governors Meeting before Hangzhou Summit. Ministers and Governors discussed issues concerning global economy, framework for strong, sustainable and balanced growth, international financial architecture, investment and infrastructure, financial sector reform, international tax, green finance, climate finance, and anti-terrorist financing, and endorsed the key outcomes under each subject.

The G20 Labour and Employment Ministerial Meeting Held in Beijing

On July 12th and 13th, 2016, the G20 Labour and Employment Ministerial Meeting was held at Diaoyutai State Guesthouse in Beijing. Chinese Vice Premier Ma Kai attended the welcome session and delivered a speech. Around 300 participants, including labour and employment ministers from G20 economies and 6 invited countries, and delegates from international organizations, such as ILO and OECD, attended this meeting. As one of the sectoral ministerial meeting in support of the G20 Hangzhou Summit, the theme of this meeting was “Innovation and Inclusive Growth: Decent Work, Enhanced Employability and Adequate Job Opportunities”. Ministers had in-depth discussions on the challenges to the labour markets from globalization, technological progress and demographic change, and agreed on a set of policy recommendations on employment generation and workforce skills enhancement. The meeting adopted the Ministerial Meeting Declaration with 5 outcome Annexes, including G20 Entrepreneurship Action Plan and G20 Initiative to Promote Quality Apprenticeship.

A social dialogue session was organized between the labour and employment ministers with social partners (B20 and L20) and other engagement groups (T20, W20, Y20 and C20) prior to the ministerial meeting.

The G20 Energy Ministerial Meeting Held in Beijing

On June 29th and 30th,2016, the National Energy Administration of China held the G20 Energy Ministerial Meeting at Yanqi Lake International Conference Center in Beijing. Officials from 27 countries and relevant international organizations were gathered in Beijing with the common goal to push forward global energy sustainable development. As one of the specialized ministerial meeting before the G20 Hangzhou Summit, this meeting was themed Shaping a Low-carbon, Smart and Sharing Energy Future. Chinese Vice Premier Zhang Gaoli attended the opening ceremony and delivered speech. In the two-day event, participants had in-depth discussion and reached broad consensus on topics including opportunities and challenges on global energy development, energy technology innovation, demand and current policy on energy access.

The meeting adopted 4 outcome documents, including one major document, namely the G20 Energy Ministerial Meeting Beijing Communiqué, and 3 affiliated documents, namely Enhancing Energy Access in Asia and the Pacific: Key Challenges and G20 Voluntary Collaboration Action Plan, G20 Voluntary Action Plan on Renewable Energy and G20 Energy Efficiency Leading Programme.