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Leader’s view Michel

Leader’s view Michel Temer President, Brazil GUEST’S VIEW Brazil in the G20: responsibility and openness Brazil defends a G20 that, without replacing other forums, contributes to advancing multilateral negotiations, writes Michel Temer 5 th Summit 2012 Elected DIEGO DEAA Brazil will arrive for the G20 summit in a time of profound internal changes: we are moving forward with the most ambitious agenda of reforms the country has seen in the past two decades. An agenda that, following the worst economic crisis in Brazilian history, brings back growth and employment. We have been applying tested remedies, always through dialogue with Congress and society. Our fundamental principle is that of responsibility in managing government finances, with efficiency in the use of taxpayer money. We have passed a constitutional amendment to control public expenditure. We are pushing forward an update of our pension system. This attitude of fiscal responsibility is a precondition for the recovery of confidence, investments and jobs. It is a precondition for ensuring the budgetary space needed for indispensable poverty eradication policies. Our agenda of reforms also focuses on increasing the competitiveness of the economy. We are consolidating more rational and predictable regulatory frameworks and adjusting labour laws to the reality of our time. We are modernising the business environment making it simpler and more agile, particularly to the benefit of small- and medium-sized businesses. The results are already there. Inflation is again under control. We have created room for the consistent reduction of interest rates. Economic recession is behind us: after two years of contraction, the economy is growing again. One of the key elements of our agenda is a greater integration in the international economy. We know that the path to development requires a more competitive participation in global flows of trade and investment. This is why we have renewed our engagement in the negotiation of the Mercosur–EU trade deal, and opened new negotiating fronts. This is also why we have formally requested accession to the Organisation for Economic Co-operation and Development. In different quarters, too many people are excluded from the full benefits of globalisation — and they have demands that must be met. It is in responsibility and openness that we find the key to more prosperous and less unequal societies. This is the spirit we will favour in Hamburg. Under the German presidency, we will explore new ways to foster investment and to prepare our countries for the changing realities in the global economy. This is essential for growth and employment. For Brazil and so many other countries, from the G20 and beyond, it will be equally important to place emphasis on agricultural trade, a sector still subject to distortions harming many developing economies. Brazil defends a G20 that, without replacing other forums, contributes to advancing multilateral negotiations. A G20 that strengthens the multilateral trading system, one that works for the success of the World Trade Organization’s ministerial conference in Buenos Aires in December 2017. The fact is that a solid multilateral system is the best instrument to contain protectionist tendencies that jeopardise global economic dynamism. We seek not just any growth – but growth in keeping with the protection of the environment and the creation of opportunities for all. We’re pursuing sustainable development in three dimensions: economic, social and environmental. It is with the same sense of urgency that we reaffirm our commitment to the Paris Agreement. Brazil has defined an ambitious and achievable national goal. The G20 plays a role in preserving the international regime on climate change, always observing the principle of common but differentiated responsibilities. The G20 also has a role to play in ensuring progress in adaptation, technology transfer and financing. The current and crucial issues before us transcend national borders and test our ability to act together. More than ever, the G20 can help us find answers that reconcile legitimacy and effectiveness — answers that, as we all know, cannot be taken for granted. They depend on each one of the members of the group, on their clarity on the way forward, on their willingness to cooperate. That is what is expected of us. G20 32 G20 Germany: The Hamburg Summit • July 2017

Spotlight on Germany We must solve this problem together, so that we don't have a situation where one country wreaks damage on other countries Angela Merkel Chancellor, Germany, G20 hosts

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