What is the G20 and why is it important for Argentina?
The Group of 20 (G20) is the premier forum for international economic and financial coordination. In the context of the G20, the Presidents and Heads of State of the leading developed and emerging countries—"systemically significant economies"—gather to discuss and agree on common strategies for the global economy and the main issues on the current global agenda. The G20 countries account for approximately 85% of global GDP, 80% of world trade and two-thirds of the world's population.
The G20 is comprised of: Argentina, Australia, Brazil, Canada, China, the European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Korea, Turkey, the United Kingdom, the United States of America, and South Africa.
Argentina accords great importance to the G20 within the framework of its global insertion strategy, implementing a constructive approach for the adoption of shared views and commitments in matters of global impact, such as sustainable development (economic growth, environmental protection and social development), the strengthening of trade and investment, climate change issues, and science and technology-based innovation, among others.
What are the expectations and what will Argentina propose at the Summit?
The Summit of G20 Leaders in Hangzhou (4-5 September) will focus on the adoption of decisions aimed at strengthening the global economy, enhancing financial regulations and promoting actions to tackle the most pressing issues on the global agenda. The Chinese Presidency has identified the achievement of an innovative, revitalized, interconnected and inclusive global economy as a priority.
At the Summit, President Macri will promote various topics of interest for Argentina, which include: underscoring the role of agriculture as a critical sector to attain development goals (related to food security and employment, among others); strengthening the multilateral trading system, with the WTO having a leading role; fostering progress in the negotiations over outstanding issues of the Doha Round; affirming the importance of development as a means to achieve inclusive, sustained and equal growth, including the eradication of poverty in all its forms and dimensions.
This Summit is especially important for Argentina as it will be officially announced that our country will assume the presidency of the G20 in 2018, following the German presidency next year. This is a cause for pride and represents a major responsibility as well as one of the most significant political and diplomatic challenges in Argentina’s recent history.
It is worth mentioning that, following the formal takeover of the presidency after the Summit, Argentina will become part of the “troika” together with China and Germany. This three-member management group is made up of the previous, the current and the future G20 chairs, which ensures continuity in the Group’s topics and objectives.
Argentine delegation
The Argentine delegation attending the Leaders Summit will be headed by the President of the Argentine Republic, Mauricio Macri, the Minister of Foreign Affairs and Worship, Susana Malcorra, the Minister of Finance, Alfonso Prat-Gay, the Secretary for Strategic Affairs, Fulvio Pompeo, and the Deputy Foreign Minister, Carlos Foradori.