1 year ago


Leader’s view XINHUA /

Leader’s view XINHUA / ALAMY STOCK PHOTO Recep Tayyip Erdoğan President, Turkey 11 th Summit 2014 Elected Global peace and stability are key for a robust global economy. At the Antalya Summit I hosted in 2015, we held detailed consultations on countering terrorist activities. I welcome this issue as a fundamental part of the G20 agenda since then. The G20’s support for international efforts in the fight against terrorism is crucial. For more than 30 years, Turkey has been fighting separatist terrorism and has been exposed to the attacks of ferocious organisations such as Daesh, PKK and the Fethullah Terrorist Organisation. We are familiar with and deeply feel the sorrow that terrorism brings. Terrorism is a common problem for the world and the shared enemy of all humanity. Eliminating the risks posed by terrorism will prevent associated economic costs, which will improve the resilience of our economies. The G20 continues to address forced displacement and migration issues caused by armed conflict and political crises. As the leader of a country hosting more than three million refugees, I do not support the approach of addressing migration from only a security perspective. We should not underestimate the economic, social, legal and humanitarian aspects of displacement and migration. Therefore, the G20’s efforts to integrate migrants and forcibly displaced people into job markets and financial systems are very relevant. To solve this humanitarian problem, each country should share the burden. In fact, migration and forced displacement are structural issues, and we need to take bold steps to address them. To do so, our overarching objective should be to eliminate the root causes. Preventing economic crises is as important as containing their effects and restoring a path to robust growth. Enhancing the resilience of our economies against domestic and external shocks will help us achieve strong, sustainable, balanced and inclusive growth individually and collectively. LEADER’S VIEW Turkey is enhancing cooperation with Africa We must address the needs of the global community beyond our membership, especially the needs of developing countries, writes Recep Tayyip Erdogan As we implement policies to enhance the resilience of our economies, we need to be vigilant about global spillovers. Trade and investment, major drivers of growth, have already lost momentum since the crisis. Our main objective should be to avoid protectionism. The G20 is not just a platform for policy discussions. The main pillar of its success is its vision to address long-term economic challenges. Studies on innovation and digitalisation – key to the future of our economy – are on point. Today’s rapid technological transformation continues to affect every aspect of people’s lives from employment to income distribution. We should address this transformation with a focus on enhancing the well-being of all humanity. These efforts should also align with our ambition to reduce technological divides among countries. The G20 must address the needs of the broader global community beyond its membership, especially the needs of developing countries. Implementing the 2030 Agenda for Sustainable Development is especially important. Turkey, providing humanitarian and development assistance to more than 140 countries and one of the world’s most generous donors, will continue to strongly support development efforts through both the United Nations and the G20. The G20 Africa Partnership is a critical step. Safeguarding political and economic stability in Africa while improving the investment climate is the key to ensuring sustainable economic growth. With a win-win perspective and mutual respect, Turkey is enhancing our cooperation with Africa in all spheres. We support Africa with development-focused humanitarian assistance. The G20 is the central consultative mechanism for ensuring global economic coordination and increasing the resilience of our economies against risk. The consensus-based decisions of the G20 and the policies we implement will guide the actions of global stakeholders. This spirit of cooperation and solidarity will continue to generate significant gains for global economic and political stability. I am confident that the Hamburg Summit will be a great success. G20 24 G20 Germany: The Hamburg Summit • July 2017

Leader’s view LEADER’S VIEW A bright spot in the economic landscape Over the last three years, out of all the major economies India’s has been the fastest-growing, writes Narendra Modi Narendra Modi Prime Minister, India India remains a bright spot in the subdued economic landscape across the world. India has emerged as the fastest-growing major economy over the last three years, with GDP growth rate of over seven per cent. We have moved up 32 places in last two years in the Global Competitiveness Index of the World Economic Forum – this is the highest for any country. India also moved up 19 places on the 2016 Logistics Performance Index of the World Bank. We have also moved up 16 places on the Global Innovation Index of WIPO in 2016. We are third among the top 10 FDI destinations listed by UNCTAD. We are moving fast towards becoming a digital economy. GST is among the most historic reforms India has ever done — and it is going to be implemented from next month. In the last two years, we have moved towards a low-tax regime both on the personal as well as the corporate side. We have lowered the corporate-tax rate from 30 per cent to 25 per cent, particularly for new investments and smaller ventures. New laws and institutions for bankruptcy and insolvency as well as IPR and arbitration are now in place. More than 7,000 reforms have been implemented on the ease-of-doing-business front. Thirty-six white industries have been taken out from the requirement of environmental clearance. Similarly, more than 50 items have been taken out of the defence list. Customs clearance has been made 24–7 at 19 ports and at 17 air cargo complexes. Power connection is provided within a time frame of 15 days. India’s ranking is now up by 111 places on the ‘Getting Electricity’ parameter of the World Bank. Now, India has one of the most liberal FDI Policy regimes in the world. More than 90 per cent of the foreign investment flows are under automatic route… Our FDI outlook has been ranked highly positive by various international agencies. There has also been tremendous growth in the FDI inflows in the last three years and it reached $60 billion in 2016-17. Speech to the Indo-German Business Summit, Berlin, 30 May 2017. G20 4 th Summit 2014 Elected July 2017G20 Germany: The Hamburg Summit 25

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