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We have come a long way since 2005, when we launched the Aid for Trade initiative in Hong Kong at the 6th WTO Ministerial Conference. Each successive global review has deepened our analysis and broadened our understanding of the dynamics of aid, trade, development and their interaction. In parallel, more and more partner countries and donors have come on board as the tangible results of our efforts become apparent.
Austria’s prospects are among the strongest in Europe. Activity is picking up, and GDP is poised to increase by at least one and a half per cent next year (...) Austria’s rates of unemployment and youth unemployment remain among the lowest in the European Union, said Angel Gurría.
To better integrate their economies into Global Value Chains, governments need a fine-tuned understanding of their dynamics and policies, and we have made considerable progress on this front. For example, we have learned that success in international markets depends as much on the capacity to import high-quality inputs as on the capacity to export: intermediate inputs account for over 2/3 of the goods and 70% of the services we trade.
Without propriety, integrity, transparency and the engagement of all stakeholders, markets cannot function well. Governments must protect fundamental rights and ensure good governance, fair regulations and transparency, while businesses must acknowledge that operating globally also implies a responsibility for their impact locally.
Russia is a key player in the world economy and therefore already integrated in the complex architecture of Global Economic Governance. Russia’s G20 Presidency and its leadership have underpinned this role further, said Angel Gurría.
Globalisation is largely about participation in global value chains. But making the most of globalisation and successfully integrating these value-chains requires that enterprises enhance their competitiveness and raise their productivity, said Angel Gurría
We need to work more on the growing importance of services and accompanying policies to ensure inclusive growth. Efficient services regulations are a key for increasing productivity not just in the services sectors themselves, but also in the manufacturing sectors, said Angel Gurría.
As the economic and especially the jobs crises persist, weakening – if not dismantling – the welfare state would hit the most vulnerable hardest. At the OECD we believe that social inclusiveness and growth can and should go hand-in-hand, said Angel Gurría.
Angel Gurría, Secretary-General of the OECD, shares with the Heads of the B20 Task Forces the OECD views on the current economic situation, and what they can do together going forward.
Talking points presented by Angel Gurría, Secretary-General of the OECD, at the B20 Plenary Session in Saint Petersburg, 20th June 2013.