The European Sting writes down the history LIVE from G20 Leaders’ Summit in Turkey

“The Great Recession in 2008-09 taught us that the solution to global challenges rests in global actions. The rise of the G20 is a manifestation of this spirit. As the major economies of the world, we adopted a more integrated, coordinated and effective approach to the challenges we have been facing. During these difficult times, the G20 has clearly demonstrated its capability as a global crisis resolution forum. We managed to contain the immediate effects of the Great Recession, but as stated in Brisbane by the Leaders of the G20, the growth is still slow, uneven and not delivering the jobs needed. Meanwhile, the potential of our economies has fallen and the inequalities kept rising all over the world. There still exist critical challenges to be addressed by the G20. This means that, the G20 is still highly important and relevant in a post-crisis world. The G20 is the premier platform for global economic and financial issues. Therefore, any subject matter that has implications on the global economy and international financial system should have its reflection onto the G20 agenda. With that understanding, while taking forward the ongoing agenda, we will focus on ways to make the G20 more relevant to the rest of the world, including the low-income developing countries (LIDCs).

Collective Action for Inclusive and Robust Growth The G20 has been instrumental to contain the adverse effects of the Great Recession so far. Going forward, the membership has devised comprehensive policy frameworks in a variety of areas and put forward substantial commitments to achieve our common objective of strong, sustainable and balanced growth. Now is the time to act. As the G20 Chair, Turkey will spare no effort in fulfilling this critical responsibility to steer the platform to achieve our ambitious targets.

2015 will be a year where G20 will focus its efforts on ensuring inclusive and robust growth through collective action. This can be formulated as the three I’s of the Turkish Presidency: Inclusiveness, Implementation, and Investment for Growth. Inclusiveness has both domestic and global dimensions. At the domestic level, we must ensure that the benefits of growth and prosperity are shared by all segments of the society. For this purpose, we will emphasize issues pertaining to the small and medium sized enterprises (SMEs) as a cross-cutting subject, follow up our commitment on strengthening gender equality in employment as well as addressing youth unemployment. Turkey aims to ensure that discussions within the G20 resonate with the majority of our citizens. At the international level, challenges facing the LIDCs will be raised more vocally by the G20. This will be one of the defining aspects of the Turkish Presidency. The G20 has so far taken significant strides in designing and launching policy frameworks in many areas. In November 2014, as the members of the G20 we have agreed on the Brisbane Action Plan and pledged to undertake about 1000 commitments that, if fully implemented, will add more than USD 2 trillion to the global GDP and generate millions of additional jobs for our citizens by 2018. Likewise, for a number of work streams within the G20 including financial regulation, international tax, and international financial architecture, words have played their part. 2015 will be the time for the deeds and the year of implementation. Finally, Turkey will put a firm emphasis on investments as a powerful driver of growth. Building on existing works, we will introduce a new narrative that will address the investment gaps of the member countries via concrete and ambitious investment strategies.

We will build on the legacy of efficient and result-oriented approach in our G20 works, and will always be guided towards concrete deliverables.”