03 Dec
G20 declaration

G20 leaders support the reforms of the World Trade Organisation and deals about the future of work: G20 declaration

European Council President Donald Tusk joined the leaders of G20 countries in seeking to improve the international rules-based order and keep markets open. At the G20 summit discussions focused on trade, climate change, international tax, future of work and gender equality.

G20 leaders met in Buenos Aires on 30 November and 1 December 2018. They adopted a declaration focusing on the future of work, infrastructure for development, a sustainable food future and on gender equality.

At their meeting in Buenos Aires, Argentina, on 30 November and 1 December 2018, G20 leaders adopted a declaration focusing on the future of work, infrastructure for development, a sustainable food future and a gender mainstreaming strategy across the G20 agenda.

Building consensus

These are some of the main points of the declaration:

1. Ten years since the first G20 Leaders’ Summit we met in Buenos Aires, Argentina, on 30 November1 December 2018 to build consensus for fair and sustainable development through an agenda that is people-centred, inclusive and forward-looking.

2. This year we have focused on the following pillars: the future of work, infrastructure for development, a sustainable food future and a gender mainstreaming strategy across the G20 agenda.

3. We have addressed our agenda promoting dialogue and the search for common ground. Building consensus requires the commitment of the society as a whole. Our discussions have been enriched by our engagement with stakeholder communities.

4. We welcome the strong global economic growth while recognizing it has been increasingly less synchronized between countries and some of the key risks, including financial vulnerabilities and geopolitical concerns, have partially materialized. We also note current trade issues. We reaffirm our pledge to use all policy tools to achieve strong, sustainable, balanced and inclusive growth, and safeguard against downside risks, by stepping up our dialogue and actions to enhance confidence.

Monetary policy will continue to support economic activity and ensure price stability, consistent with central banks’ mandates. Fiscal policy should rebuild buffers where needed, be used flexibly and be growth-friendly, while ensuring public debt is on a sustainable path. Continued implementation of structural reforms will enhance our growth potential. We reaffirm the exchange rate commitments made by the Finance Ministers and Central Bank Governors last March. We endorse the Buenos Aires Action Plan.

5. We renew our commitment to work together to improve a rules-based international order that is capable of effectively responding to a rapidly changing world.

6. Transformative technologies are expected to bring immense economic opportunities, including new and better jobs, and higher living standards. The transition, however, will create challenges for individuals, businesses and governments. Policy responses and international cooperation will help ensure that the benefits of the technological transformation are widely shared. We endorse the Menu of Policy Options for the Future of Work which we will draw on, considering individual country circumstances, to: harness technology to strengthen growth and productivity; support people during transitions and address distributional challenges; secure sustainable tax systems; and ensure that the best possible evidence informs our decision-making.

7. We remain committed to building an inclusive, fair and sustainable Future of Work by promoting decent work, vocational training and skills development, including reskilling workers and improving labour conditions in all forms of employment, recognizing the importance of social dialogue in this area, including work delivered through digital platforms, with a focus on promoting labour formalization and making social protection systems strong and portable, subject to national law and circumstances.

Click here to access the full declaration.

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