PM concludes successful G-20 Summit in Brisbane, Australia
“This year’s G-20 meeting was a success, with members committing to actions that will help the global economy return to strong growth. I congratulate Australia for hosting the Summit and keeping the agenda tightly focused on promoting stronger economic growth and employment outcomes, and making the global economy more resilient. I was pleased to convey to other members how our Government’s short-term stimulus, cost reductions and ambitious free trade agenda are contributing to the strength of Canada’s economy.” – Prime Minister Stephen Harper
Prime Minister Stephen Harper concluded a two-day visit to Brisbane, Australia, where he participated in the G-20 Leaders’ Summit on November 15 and 16, 2014. The visit was part of a broader trip to the region, which included a stop in Auckland, New Zealand, for an official visit. He was joined by Joe Oliver, Minister of Finance.
During the Brisbane Summit, leaders determined a number of concrete actions that the G-20 can take to strengthen the global economy. Discussions focused on infrastructure investment, job creation, increasing global trade, and strengthening collaboration on energy. Leaders also took stock of agreed-upon measures aimed at modernizing the international tax system and strengthening the financial system. All G-20 members put forward comprehensive growth strategies with a view to lifting their collective gross domestic product (GDP) over the next five years, by more than two per cent above the trajectory that was in place at the last G-20 Summit in St. Petersburg.
On the margins of the Summit, Prime Minister Harper met with the leaders of India, the EU, Spain and Senegal.
The Prime Minister also announced his upcoming participation in the 15thSummit of la Francophonie being held in Dakar, Senegal, on November 29 and 30, 2014.
- The G-20 Summit brings together the leaders of major advanced and emerging economies.
- Together, the members of the G-20 account for more than 85 per cent of the world’s economy and two-thirds of the world’s population, making the G-20 the premier forum for international economic cooperation. For the last six years, the G-20 has played a significant role in mitigating the adverse effects of the financial and economic crisis that was felt across the globe in 2008.
- G-20 leaders are meeting at a time when the global economy is confronted by a number of challenges, including geopolitical tensions and slowing growth in some emerging market economies.
- In Canada, the economy has performed well and continues to grow. However, as an open market economy with 30 per cent of its GDP coming from exports, Canada remains vulnerable to external uncertainties.
“Canada will continue to press G-20 members to fully meet their current and past commitments, which is essential to generating jobs and prosperity around the globe.” – Prime Minister Stephen Harper