Written by Marcin Szczepański
The Group of Twenty (G20) was established in 1999 after a series of crises in emerging economies, as a forum of finance ministers and central bank governors. It comprises ‘systemically important’ developed and emerging economies (including the European Union) and its purpose is to improve coordination of global economic policies. Since 2008, the G20 has also met at the level of leaders, who hold annual summits organised by the rotating presidency. These gatherings are the culmination of a year-long preparatory process during which the G20 agenda is formulated. The next summit takes place on 15 and 16 November 2015 in Antalya, Turkey.
Traditionally occupied with economic issues and financial regulation, the G20 programme now also includes topics like development, trade, tax cooperation, measures to fight corruption, climate change and energy. The Turkish presidency’s focus is on ‘enabling inclusive and robust growth’ through the three I’s: inclusiveness, implementation and investment. Turkey has also sought to increase integration of low income developing countries and SMEs into the global economy, to bridge the gender gap in employment and reduce inequalities. This programme has been generally welcomed by observers who nevertheless point out that accountability is crucial to the efficiency of the G20 process. Numerous preparatory meetings at levels ranging from ministerial to stakeholder groups have resulted in a vast array of recommendations to leaders which are to be taken into account in their discussions during the upcoming summit.