India to host G-20 Summit in 2023: Grouping's declaration

NEW DELHI/RIYADH :

 

India was earlier slated to host the summit in 2022. But now it is decided that the G-20 presidency will be held by Indonesia in 2022, India in 2023 and Brazil in 2024. 

THE G-20 leaders announced on Sunday that India will host the summit of the high-profile grouping in 2023 — a year later than what was decided earlier. India was earlier slated to host the summit in 2022 with the Osaka declaration of the G-20 stating last year that “we look forward to meeting again in Saudi Arabia in 2020, in Italy in 2021 and in India in 2022”. “We thank Saudi Arabia for hosting a successful Riyadh Summit and its contribution to the G-20 process. We look forward to our next meetings in Italy in 2021, Indonesia in 2022, India in 2023 and Brazil in 2024,” the G-20 Riyadh Summit Leaders Declaration said. On India now hosting the summit in 2023, a source said, “The order of the rotating presidency is decided among member States on the basis of consultations and mutual convenience.”

India looks forward to taking forward the G-20 agenda in 2023 after the Italian and Indonesian presidencies, the source said. In a statement on the summit, the Ministry of External Affairs said it was decided that the G-20 presidency will be held by Indonesia in 2022, India in 2023 and Brazil in 2024. G-20 nations vow equitable access to COVID-19 vaccines LEADERS of the G-20, including Prime Minister , on Sunday asserted that they will spare no effort to ensure affordable and equitable access to COVID-19 diagnostics, therapeutics and vaccines for all, while also pledging to use all possible policy tools to protect people’s lives, jobs and incomes in the wake of the pandemic. The final declaration was released after the two-day G-20 Leaders Summit, attended among others by Prime Minister Modi, outgoing US President Donald Trump and Chinese President .

In the G-20 Riyadh Summit Leaders Declaration issued at the conclusion of the conference of the world’s top 20 economies, the leaders said that while the global economy experienced a sharp contraction in 2020 due to the impact of the COVID-19 pandemic, global economic activity has partially picked up as “our economies gradually reopened and the positive impact of our significant policy actions started to materialise”. However, they noted that the recovery is “uneven, highly uncertain and subject to elevated downside risks”, including those arising from renewed virus outbreaks in some countries. The G-20 leaders also expressed support for the Anti-Money Laundering (AML)/Counter-Terrorist Financing (CFT) policy responses detailed in the FATF’s paper on COVID-19, and reaffirmed their support for the Financial Action Task Force (FATF) as the global standard-setting body for preventing and combating money laundering, terrorist financing and proliferation financing.

“We reiterate our strong commitment to tackle all sources, techniques and channels of these threats. We reaffirm our commitment to strengthening the FATF’s Global Network of regional bodies, including by supporting their expertise in mutual evaluations, and call for the full, effective and swift implementation of the FATF standards worldwide,” the leaders said.

The leaders also said that the pandemic and its unprecedented impact in terms of lives lost, livelihoods and economies affected, is an “unparalleled shock” that has revealed vulnerabilities in preparedness and underscored common challenges. G-20 to safeguard planet, adopt clean energy THE G-20 leaders have emphasised the group’s commitments to safeguarding the planet and adopting clean energy, according to an official statement. During the second and final day of the 12th G-20 Riyadh Summit, the Saudi presidency on Sunday hosted a high-level side event on safeguarding the planet, during which the G-20 leaders highlighted the importance of Circular Carbon Economy approach to manage greenhouse emissions across the world and industries to protect the planet, reports Xinhua news agency.

The statement noted that G-20 remains committed in its efforts to safeguarding the planet by preserving coral reefs, ocean ecosystems, and taking concrete actions to tackle land degradation and habitat loss. “With a coordinated approach on environment, we ensure the G-20 countries’ commitment to building a more inclusive, sustainable, and resilient future,” the statement added. Addressing the meeting, Saudi King Salman bin Abdulaziz Al Saud stressed that safeguarding the planet is of critical importance.

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