G20 summit called for more growth and job creation

The participants in the G20 summit accepted a declaration calling for growth stimulation and more jobs. Only strong and sustainable growth can lead to the economic recovery and the creation of new work opportunities, the G20 leaders stressed.

The strategy for achieving the G20 objectives  is included in the Petersburg action plan. The strategy comprises:

-          employment and inclusive labour market promotion, especially in the field of employment of the young people

-          long-term investment promotion, especially in the field of the infrastructure, SME and access to the financial resources

-          free trade promotion according to the general rules, strong multilateral system promotion, rejection of protectionism, transparency in the regional trade agreements

-          financial reform with emphasis on sustainable and safe public finance

One of the main topics of the G20 summit agenda was the tax base erosion and the profit transfer, the initiative of the G7 countries which should prevent the tax base reduction carried out by the multinational corporations by means of legal measures. The G20 leaders have approved the OECD Action plan concerning the automatic exchange of tax information which should be passed by all G20 countries from 2015 onwards.

The Petersburg declaration adresses also the issue of energy supply, effective technologies, climatic change and environment protection.