G20 explores how developing countries can contribute to and benefit from global growth
Australia hosted an informal meeting of the G20 Development Working Group (DWG) in Washington on 14 April. The meeting offered participants the opportunity to share views on core development agenda issues such as infrastructure and tax (domestic resource mobilisation). These are priority issues for G20 Finance Ministers. The DWG’s main concern is how low income and other developing countries can contribute to, and benefit from, the G20’s work in these areas.
Specifically, participants discussed ways the DWG can help improve the preparation of infrastructure projects in Africa and Asia to help attract greater private sector investment. They also considered how better support for tax authorities in developing countries can help those countries reap the benefits of the G20 tax agenda, and reduce their reliance on aid.
They also discussed the linkages between growth and development, which is at the heart of the G20 development agenda. Growth in developing countries is a vital contributor to global growth and stronger growth in G20 economies is good for developing countries. So it is important to ensure that G20-led reforms to promote stronger economic growth, employment outcomes and resilience, also benefit developing countries.
Australia hosted the first formal DWG meeting in Sydney in December 2013 and will host two further DWG meetings in preparation for the G20 Leaders Summit in Brisbane in November 2014.