G20 summit, conclusions
By Adina Moloman
Sources: European Council, CNN
G20 summit finally concludes a few days ago in Los Cabos, Baja California Sur, Mexico.
The G-20 with its members, United States, European Union, Germany, Great Britain, France, Italy, Japan, Russia, China, Canada, Argentina, South Korea, South Africa, Mexico, Brazil, India, Indonesia, Saudi Arabia, Turkey Australia continue to serve as a relevant coordination forum for international economic cooperation.
In Los Cabos took place the meetings of Business-20, Labor-20, Youth- 20, and Think-20.
The event culminated with a G20 leaders declaration , G20 labor and employment Minister’s conclusions, an Agriculture group final report, a Policy commitments by G20 members, and a Los Cabos growth and jobs action plan.
G20 countries agreed to the Los Cabos Action Plan for Jobs and Growth, as this year main topic, inspired on the fact that the summit was held on a Mexico Manufacturing country. It was strongly underlined the importance of trade as an important source of growth and jobs. The G20 also expressed its intention to further strengthen the multilateral trading system.
Other priority on the G20 agenda was sustainable development and food security.
A major topic was the measures taken in Europe to stabilize their economies and their financial system. In conclusion the European Union has the intention to move ahead with deeper economic and fiscal integration, mentioning that “a common currency needs more common policy”.
Also the G20’s talked about their commitment to implement financial reform and build a more responsible and solid international financial sector.
A huge attention was given on the meetings of President Obama with euro zone leaders focusing on Greece situation, as well as on the meeting with the Russian President, Vladimir Putin and Chinese President, Hu Jintao. Obama discussed the violence in Syria with the Russian and Chinese presidents, Putin and Hu, both of whom have acted to protect Syrian President.
At the end all g20 leaders were committed beyond Los Cabos Summit to deliver in October an updated report, including a work plan of its activities for next year.
