ANKARA
Prime Minister Ahmet Davutoglu has called for better interaction between the G20 countries and the developing and low-income countries to develop a global approach for growth.
Davutoglu made the remarks in a publication produced by the University of Toronto’s G20 Research Group.
The prime minister is in Brisbane to attend a G20 summit.
The publication gave an outline of Davutoglu’s vision for G20, his analysis of current issues and ideas about the 20 major economies of the world.
Turkey is set to take over the 2015 term of the G20 presidency on December 1 after the ninth meeting of the G20 heads of government in Brisbane on Nov. 15 and 16.
Davutoglu said the current challenge of G20 members was to ensure strong, sustainable and balanced growth in the world economy, after the International Monetary Fund downgraded the global economic growth forecast.
The premier said the members needed to focus on fundamental areas of their growth strategies, especially infrastructure, investment and trade.
The Organization for Economic Co-operation and Development has estimated that at least $70 trillion needed to be invested in global infrastructure over the next 15 years.
“We need to share our knowledge and experience to enhance cooperation in this important area,” he said. He added that Turkey and other G20 members had experience in developing public infrastructure projects with private-sector support.
Investment has a critical role in unlocking growth and generating new jobs. The premier said the members also needed to explore the idea of developing alternative and innovative financial instruments, and free trade arrangements that could open up a multilateral trade system.
“The interaction between the G20 and developing and low-income countries needs to be strengthened if we wish to develop a truly global approach for growth,” Davutoglu said.
He said development and reaching out to developing and low-income countries would be Turkey's primary focus during its G20 presidency.
Turkey will also be the first presidency to coordinate the G20 Food Security and Nutrition Framework, which is part of the country’s commitment to free the world from hunger.
It also has plans to find ways and funds to support small and medium-sized enterprises, which he said were primary engines for growth and job creation.
According to Davutoglu, collaboration among G20 members on energy-related issues must be a priority which should focus on improving energy access.
Davutoglu also stated that Turkey plans on engaging non-member countries, international organizations as well as civil society, business and labor groups.
The Group of Twenty, known as the G20, is a forum of governments and central banks 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, United States—and the European Union.
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