Follow us on:   

‘G20 Summit in China will voice concerns of developing countries’
August 20, 2016, 6:42 am

"The G20 summit in Hangzhou will focus on development, especially that of developing countries, including African countries, which makes it different from other G20 summits," the Chinese envoy said [Xinhua]

“The G20 summit in Hangzhou will focus on development, especially that of developing countries, including African countries, which makes it different from other G20 summits,” the Chinese envoy said [Xinhua]

The G20 summit to be held in China in early September will combine the concerns of developing countries with a focus on global development, Chinese envoy to Ethiopia La Yifan said in Addis Ababa on Friday.

A record number of developing countries will participate in the upcoming G20 summit, the first time in its history, the Chinese diplomat said at an event in the Ethiopian capital.

“The G20 summit in Hangzhou will focus on development, especially that of developing countries, including African countries, which makes it different from other G20 summits,” he said.

China expects next month’s summit of the G20 which it is hosting will focus on boosting economic growth and other financial issues rather than political disputes.

“The G20 summit, which gathers the most influential economic players in the world, should also take the concerns of developing countries into heart,” he noted.

By bringing more interlocutors together, the G20 summit will push for a more inclusive world economy, said the Chinese ambassador.

The G20 summit will be held in east China’s Hangzhou city on Sept.4-5.

All five BRICS countries are members of the G20.

Finance ministers and central bankers from the Group of 20 nation, in a meeting last month in China, vowed to do more to lift global growth and share the benefits more broadly.

“The recovery continues but remains weaker than desirable. Meanwhile, the benefits of growth need to be shared more broadly within countries to promote inclusiveness,” the G20 ministers said in a joint communique.

Global challenges have been exacerbated by Britain’s decision to leave the European Union.

On Wednesday, Moody’s Investors Service revised upwards its macro outlook for Brazil, Russia and China.

The MSCI’s benchmark EM index – which measures equity market performance in some 23 emerging countries – has overall jumped more than four per cent in July, registering the highest level in a year.

 

TBP and Agencies