9th G20 Meeting 2014-Brisbane, Australia
G20 Summit is concluded with Brisbane in 16 November 2014 at Brisbane in Australia.
G20's objective of achieving strong, sustainable and balanced growth and ensuring a more global economy. DFAT led the policy agenda and management of the G20 Development Working Group meetings in 2014.
In 2014 the G20 contributed to development by:
the right conditions to attract private sector investment in order to increase financing for infrastructure investment
- Developing countries benefits of the G20's efforts to improve the international tax system, and it including in combatting and profit shifting and increasing the information shared between tax authorities
- It assisting developing countries to increase the use of formal financial services through the Global Partnership for Financial Inclusion and taking some action for reduce the cost of transferring payment into developing economies
- Long term priority objectives G20 can make a impact on causes of food insecurity and malnutrition
- strengthening the G20's contribution to human resource development in developing countries.
- European leaders explained their desire to support for recovery as the global economy moves beyond the global financial crisis. President of European Barroso and Council President of European Van Rompuy stressed the importance of coordinated growth strategies as well as finalising agreements on core financial reforms, and actions on tax and anti-corruption.
- Waheguru Pal Singh Sidhu the main objectives of the summit were to “It provide priority for growth, financial rebalancing and emerging economies, investment and infrastructure, and employment and Effort mobility”
- University of New South Wales Ross Buckley Professor of international finance law suggested that the summit should have emphasised the implementation of strategies rather than get to agreement towards reforms.
- When Climate change was not included as a subject for discussion at the summit; Australian Prime Minister Tony Abbott stated he did not want the agenda “cluttered” by subjects that would distract from economic growth. Officials from the European Union and United States of America were reported to be unhappy with this decision. Some previous summits climate change was included on the agenda.
- Australia will have had a significant effect on the agenda. The director of the G20 Studies Centre Mike Callaghan at the Lowy Institute for International Policy has stated that if the G20 meeting was to attain significant outcomes it should focus on boosting infrastructure spending, multilateral trading systems and combating Base Erosion and Profit Shifting (BEPS). The discussion about tax avoidance and tax agreements between more than 340 multinational corporations.