Russia to offer substantive agenda during G20 chairmanship – Putin

(Interfax – Dec. 1, 2012) During its G20 chairmanship, Russia intends to offer a substantive agenda to its partners aimed at resolving problems facing all countries of the world.

“We see the main objective of Russia’s chairmanship in concentrating the G20’s efforts on developing measures stimulating economic growth and the creation of jobs,” Putin said in a welcoming address for the beginning of Russia’s G20 chairmanship.

This requires stimulation of investments, confidence and transparency on markets, and efficient regulation, he said.

“It is with these priorities in mind that we will be discussing all traditional subjects on the G20 agenda. Among them are the condition of the global economy and the implementation of the Framework for Strong Sustainable and Balanced Growth, promotion of employment, reform of the currency system and the system of financial regulation and control, stability of global energy markets, the promotion of international development, the strengthening of multilateral trade, and combating corruption,” Putin said.

Russia’s chairmanship is above all “the opportunity to offer a positive and substantive agenda to our partners aimed at resolving common problems concerning all countries of the world,” Putin said. “Surely, we are determined to efficiently use our chairmanship to attain long-term national objectives and strengthen Russia’s position in the management of the global economy,” he said.

The agenda will include two major subjects, i.e. “the financing of investments as the basis of economic growth and creation of jobs” and “modernization of national systems of government borrowings and the management of the sovereign debt.”

“Thus, Russia’s chairmanship will ensure the implementation of the commitments earlier assumed by the G20 and the agenda’s continuity and at the same time will propose its own approaches toward its consideration. I would like to point out that Russia is prepared for broadest possible interaction and cooperation in resolving the issues facing the G20,” he said.

To improve the efficiency, transparency, and confidence in the G20’s work, “we intend to hold broad consultations with all parties concerned, [including] countries that do not belong to the G20, and also international, expert, and trade union organizations, the business community, the civil society and the youth,” he said.

“The record shows that global measures are productive only when they are based on opinions and take into account interests of various groups. We expect Russia\’s chairmanship of the G20 will help consolidate efforts of its members to achieve common ends, namely resolve the most pressing global economic problems and ensure sustainable development to the benefit of the entire international community and will help upgrade the living standards of millions of people on the planet,\” Putin said.

Russia is open to dialogue and common creative work, he said.

Russia’s chairmanship of G20 starts on December 1. Set up in 2008, the G20 has become an important instrument of anti-crisis response and, owing to coordinated actions of its members, they managed to stop an economic decline in a brief time and increase the supervision of national financial systems, he said.

“Then systemic reforms of the international financial-economic architecture should be started in line with the standards of the 21st century. It is necessary to start developing mechanisms enabling us to prevent risks as much as possible, increase mutual trust and add an incentive to sustainable and balanced development of the global economy,” he said.