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2016 G20 summit in Hangzhou, China

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G20 leaders met in Hangzhou, China, on 4-5 September. European Council President Donald Tusk and European Commission President Jean-Claude Juncker represented the EU at the summit. The theme of this year’s summit was “Towards an innovative, invigorated, interconnected and inclusive world economy”.

Leaders adopted a communique focusing on:

  • strengthening the G20 growth agenda
  • pursuing innovative growth concepts and policies
  • building an open world economy
  • ensuring that economic growth benefits all countries and people.

On the migration and refugee crisis G20 leaders agreed on the need for global efforts to address the effects, protection needs and root causes of the crisis. They called for strengthening humanitarian assistance and refugee resettlement.

On the fight against terrorism, leaders reaffirmed their solidarity and resolve and their commitment to tackle terrorist financing. The summit also highlighted the importance of joining the Paris Agreement on climate change as soon as possible.

The world’s leading economies expressed their determination to use all policy tools, including monetary, fiscal and structural, to achieve strong, sustainable, balanced and inclusive growth. To this end, they launched the Hangzhou action plan and called for swift and full implementation of the growth strategies.

The summit also initiated cooperation on innovation, the new industrial revolution and digital economy. Leaders endorsed the G20 blueprint on innovative growth, encompassing policies on these areas.

They discussed how to continue building an open and resilient financial system and supporting international tax cooperation. Leaders also committed to enhance an open world economy and promote the benefits of trade and open markets, as well as to contribute to the implementation of the 2030 agenda for sustainable development.

In the margins of the summit, Presidents Tusk and Juncker met with Recep Erdogan, President of Turkey, to discuss EU-Turkey relations and continued cooperation on migration. The 12th edition of the G20 summit will be hosted by Germany in 2017.

Source: Consilium EU

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