Turkey to monitor G20 commitments

Ali Babacan says Turkey will create a mechanism to monitor commitments made by G20 countries.

Turkey to monitor G20 commitments
World Bulletin/News Brief

A senior Turkish minister has promised to put transparency at the center of the country’s G20 presidency by creating an online record of member countries’ promises and deliveries.

Deputy Prime Minister responsible for the economy, Ali Babacan, said on Thursday: “We will publish G20 countries’ commitments on the web transparently in order to see which countries fulfill their promises.

We believe that this will apply light pressure to the countries,” he added.

Babacan was speaking at the 5th Bosphorus Summit organized by the International Cooperation Platform in Istanbul. A two-day G20 summit will be held in southern Turkey in November 2015.

The G20, a key multinational group for tackling the world’s economic challenges such as growth and unemployment, is a collection of the globe’s largest economies which account for around 90 per cent of global GDP, two-thirds of the world's population and 80 percent of international trade.

Babacan said that growth is the most important topic for the G20.

"If countries do not all make necessary structural reforms on labor markets, social security and output markets, the world never see growth figures as in the past."

Earlier, Babacan said: "Under Turkey's G20 presidency, we will emphasize structural reform, for ourselves, for the G20 and for the world."

Turkey's presidency of the G20 group of major economies started on Dec. 1, with a commitment to fight global inequality. The country will host the G20 summit in Antalya, a southwestern province which is home to the country’s biggest international sea resort. 

Turkey wants to be a bridge between rich and poor

"We aim to make the G20 reach out to low-income countries and take care of countries that are not G20 members in an inclusive way. Turkey will bridge the gap between developed economies and undeveloped countries to fight global inequality," Babacan said on Dec.1.

Turkey will lead a G20 push to include poorer countries in decision-making according to Turkish officials.

"Hosting the G20 in 2015 is a big opportunity and a big responsibility for Turkey," Babacan said.

The G20 summit will bring together political and economic leaders from 20 major economies, including 19 individual countries – Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and the United States – plus the European Union.

Turkey took over the presidency of the G20 from Australia. China will preside over the organization in 2016.

Güncelleme Tarihi: 11 Aralık 2014, 14:58