Turkey assumes G20 presidency

Turkey has assumed the presidency of the G20 and invited Singapore, Spain and Azerbaijan to attend the summit of world's largest economies in Antalya next year

Turkey assumes G20 presidency

World Bulletin/News Desk

Turkey will lead a G20 push to include poor countries in decision-making, the Turkish Deputy Prime Minister said on Monday, which marked the official start of Turkey’s Presidency of the G20. 

Speaking at a press conference in the capital Ankara, Ali Babacan, Deputy Prime Minister responsible for the Economy, said: "Three words will guide Turkey in hosting the annual G20 meeting of 2015: 'inclusive, implementation, reforms'.”

"The G20 brings together the leaders of 90 percent of the world's GDP and 80 percent of the world's trade. Hosting the G20 in 2015 is a big opportunity and a big responsibility for Turkey," he said.

"When there was a G7 in the past, and when many decisions were being taken on that platform, Turkey felt excluded. Now we do not want to give that feeling to countries excluded from the G20," Babacan continued. 

Turkey will host the event in Antalya, a southwestern province which is home to its biggest international sea resort.  

"We aim to make the G20 reach out to low income countries and take care of countries that are not G20 members in an inclusive way. Turkey will bridge the gap between developed economies and undeveloped countries to fight global inequality," Babacan said.

"Singapore and Spain will be invited to the summit," he added, as they are important countries in the global economic system. "We will also be inviting Azerbaijan," Babacan said.

The host of the annual G20 meeting has the ability to invite additional countries it thinks will add value during its year as Chair. 

The G20 summit, which is  a forum of world's richest nations, brings together political and economic leaders from 20 major economies, including 19 individual countries -- Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and the United States -- and the European Union.

According to Babacan, the leaders of the world's twenty largest economies will discuss the following topics in 2015: "Strong, sustainable and balanced economic growth, infrastructure investments, financial regulation, international financial architecture, international tax issues, energy, trade, employment, financing climate change, development and the fight against corruption."

Turkey took over the presidency of G20 from Australia, and China will in turn preside over the summit in 2016.

The G20 is a grouping of the world’s largest economies accounting for around 90 per cent of global GDP, two thirds of the world's population and 80 percent of international trade. 

It is a key group for tackling the world’s economic challenges such as unemployment and income inequality and is responsible for continuing to direct the global economy as it emerges from the recent financial crisis.

Last Mod: 01 Aralık 2014, 13:10
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