The WTO publication looks at its role in delivering the SDGs and unpacks ways it can help to ensure that international trade contributes to accelerating progress in achieving the goals. The report examines the SDGs from economic, social and environmental perspectives and outlines how trade is contributing to making progress in each of these areas.
The BTTC meeting was held under the theme “Envisioning inclusive development through a socially responsive economy”. It was held alongside the Academic Forum. The gathering looked at ways of solving urgent socio-economic challenges, such as water scarcity and literacy statistics, many of which were seen as symptoms of much broader issues and the result of far-reaching challenges such as climate change, inequality, economic prosperity and education.
The Ministerial Council Meeting was opened by French President Emmanuel Macron and OECD Secretary-General Angel Gurría. Countries were urged to work harder to ensure that multilateral co-operation effectively addressed today’s global challenges. The meeting discussed co-operation in promoting inclusive growth, fostering international trade, advancing co-operation on taxation and climate change, responding to the impact of digitalisation and new technologies, and ensuring the financing of the Sustainable Development Goals. The theme “Reshaping the foundations of multilateralism for more responsible, effective and inclusive outcomes”, looked at ways to ensure multilateralism better served the needs of those who had missed the benefits of globalisation.
The G20 established its Data Gaps initiative following the global financial crisis of 2008. It is the responsibility of the G20 Finance Track, with the goal of improving the availability and comparability of economic and financial data. This meeting comes after international experts in the field met in Buenos Aires in January to gather recommendations for the data collection agencies of G20 members.
The group previously met in February, where discussions focused on how technology could advance sustainable investment. Three research topics were agreed for 2018: securitisation of sustainable assets, development of sustainable private equity/venture capital, and digital innovations for mobilising sustainable finance. Continuing its work from the first meeting, the Study Group will produce the 2018 G20 Sustainable Finance Synthesis Report and submit it to the G20 Finance Ministers and Central Bank Governors Meeting in July and G20 Leaders’ Summit in November.
According to Laurence Carter, Senior Director for Infrastructure, PPPs and Guarantees of the World Bank, said: “Infrastructure hits the sweet spot for economic growth, jobs and addressing inequality.” This followed the agreement at the First G20 Meeting of Finance Ministers and Central Bank Governors in March in Buenos Aires to promote conditions needed to help develop infrastructure as an asset class that is attractive to private investors.
The meeting follows the forum’s first meeting of the year, which was held in March, in Paris. At that gathering, discussions focused on exchanging and reviewing information, with a longer-term view to find consensus on the process and timeline for the removal of market distorting subsidies and similar support.
The BRICS Business Council meets in Durban on 22 and 23 July, followed by the BRICS Business Forum, which will meet in Gauteng on 25 July. Council themes for this year include the Fourth Industrial Revolution, youth entrepreneurship and food security.
The G20 foreign ministers met in Buenos Aires on 20 and 21 May 2018 to discuss global governance, development and gender, amongst other issues. “Multilateralism is under pressure; we therefore consider it very important that the G20 provide responses,” ministers concluded. Read more.
The GEGAfrica project has been funded by UK aid from the UK government; however the views expressed do not necessarily reflect the UK government’s official policies.