Cannes – global imbalances remained unchanged. G20 reaffirmed its commitment to cooperate and revive economic growth, create jobs, ensure financial stability.
In addition it also promotes social inclusion and make globalization serve the needs of the people.
Similarly, among other items the final declaration of the G20 summit which takes place in Cannes, France (3 – 11/04/2011) European Union through a press release received detikFinance Saturday.
Rate since the last G20 Summit (Seoul, red) global recovery has weakened, particularly in developed countries, leaving unemployment at an unacceptable level.
Tensions in the financial markets has increased mainly due to sovereign risks (the possibility the government refused to comply with the terms of the loan agreement during the crisis, red) in Europe.
Signs of vulnerability emerged in countries emerging economies. Increasing commodity prices have hurt growth and hit the most vulnerable countries. Exchange rate volatility creates risks for growth and financial stability.
Global Strategy
To address the immediate challenges facing the global economy, the G20 committed to coordinate the actions and policies. G20 have agreed on the Action Plan for Growth and Employment. Each will play a part.
Employment and Social Protection
G20 strongly believe that employment should be the core actions and policies to restore growth and G20 do so under the Framework for the growth of a solid, sustainable and balanced.
G20 is committed to renew efforts to combat unemployment and increase decent work, especially for youth and those most affected by the economic crisis.
Therefore, the G20 decided to form a Task Force on Employment G20, with a focus on youth employment, which will provide input to the G20 Ministerial Meeting of the field of Workers and Employment to be held under the Presidency of Mexico (2012).
G20 has commissioned international organizations (IMF, OECD, ILO, World Bank) to report to the Minister of Finance about the global employment outlook and how the economic reform agenda under the G20 Framework will contribute to job creation is.
G20 recognize the importance of investing at the level of social protection which determines nationally in each country, such as access to health care, income security for old age and disability, child support and income security for the unemployed and assistance for working poor. They will encourage the growth of resistance, social justice and cohesion. In this case, the G20 noted the report level Social Protection Advisory Group chaired by Ms. Michelle Bachelet.
G20 is committed to improving and ensuring full respect for the principles and rights at work. G20 welcomed and encouraged the ILO to continue to promote the ratification and implementation of the eight ILO Fundamental Conventions.
G20 is committed to strengthening the social dimension of globalization. Social problems and employment, in addition to economic, monetary and financial, will remain an integral part of the G20 agenda.
The G20 called on international organizations to intensify their coordination and make it more effective. In view of the greater coherence of multilateral action, the G20 pushed the WTO, ILO, OECD, World Bank and IMF to enhance their dialogue and cooperation.
G20 believes the important role of social dialogue. In this regard welcomes the G20 meeting of B20 and L20 that have taken place under the French presidency and the willingness of this forum to work together as seen in their joint statement.
Minister of Labour and Employment G20 has met in Paris on September 26-27, 2011 to address this issue. G20 supports their conclusions, is attached to this Declaration. The G20 asked the Ministers to meet again next year to review progress made on this agenda.