G20 vows to boost global growth as summit ends
The G20 Summit in Australia has ended with a pledge by world leaders to boost economic growth and create jobs
Protesters demand human rights for Australia`s Aboriginal communityLeaders of the world’s 20 developed and emerging economies vowed to boost global GDP by over $2 trillion over next five years by investing in infrastructure and increasing trade, aimed at boosting the global recovery amid geopolitical tensions.
In a three-page statement issued at the end of G20 Summit in Brisbane, the world leaders said, ‘raising global growth to deliver better living standards and quality jobs for people across the world is our highest priority’.
The statement said that the global economy is being held back by a shortfall in demand, while addressing supply constraints is key to lifting potential growth.
The G20 leaders agreed to set up a Global Infrastructure Hub with a four-year mandate to contribute to developing a knowledge-sharing platform and network between governments, the private sector, development banks and other international organisations.
They also welcomed the launch of the World Bank Group’s Global Infrastructure Facility, saying: ‘We support similar initiatives by other development banks and continued co-operation amongst them’.
The leaders also promised ‘strong and effective action’ on climate change, an issue Australia had tried to keep off the agenda.
It was included after what EU officials described as ‘trench warfare negotiations’ between the hosts, and the US and European countries.
Some spouses of the world leaders attending the G20 Summit in Australia have visited Brisbane’s Lone Pine Koala Sanctuary, which contains snakes, kangaroos and birds, as well as the iconic little bears.
The G20 leaders have also been ceremonially welcomed to Brisbane and Australia by Traditional Owners through dance and song at the Brisbane Convention and Exhibition Centre. The performance was curated by Australia’s most famous choreographer, Stephen Page, who is also the Artistic Director of Bangarra, Australia’s leading Indigenous performing arts company.
Hundreds of protesters for a variety of causes have taken to the streets of Brisbane, hoping to highlight their cause in front of world leaders. Members of the Aboriginal community as well as environmental and political groups have staged events and rallies in the city.