G20 Summit in Hamburg (7-8 July 2017)
G20 Summit held in Germany.
A communiqué was adopted on the results of this event. Participating countries agreed to develop free trade and support open markets. They condemned protectionism and noted the special role of the World Trade Organization in shaping international trade rules. Summit participants called for the implementation of the WTO Agreement on Trade Facilitation. This will contribute to the development of world trade.
The communiqué confirms the intention of the countries to continue the fight against corruption.
The focus has been on the issue of the climate agreement. Most countries stated that the Paris Agreement would not be revised. The communiqué also reflects the special position of the United States. President Donald Trump earlier decided to withdraw from the climate agreement.
The G20 countries have agreed on an automatic exchange of tax information. For the first time, it’s gonna happen in September.
The final communiqué of the G20 Summit also states that in October the Financial Stability Board will present a report on illicit financial technologies that are currently a serious threat to the world economy.