G-20 leaders agree to cooperate on migration as a global problem: Draft

“We recognize that advancing inclusive growth and entrenching confidence require the use of all policy tools and strong engagement with all stakeholders”, the draft, the final version of which is due to be released on Monday afternoon, said.

Meeting in Antalya, G20 leaders also reiterated their commitment to lift their collective output by an additional 2.0 percent by 2018 despite rising global risks, including terrorist threats.

The draft has yet to be accepted by all and is to be published on Monday.

Their suggestions included establishing country-specific infrastructure strategies to boost investment in much-needed infrastructure projects worldwide and improvement in SME access to finance to unlock the potential of the small businesses to contribute to global growth and employment.

The head of the European Central Bank, Mario Draghi, has underlined the ECB’s readiness to extend money printing, warning that inflation, a key measure of economic health, was flagging. The leaders after the two-day Summit, which was overshadowed by the deadly attacks claimed by ISIS in Paris, highlighted the need to “carefully calibrate” and clearly communicate their policy decisions. “We have seen that trade is declining as well as commodity prices which continue to fluctuate… and there have been a few fluctuations on the financial markets”.

“We endorse the package of measures”, the leaders said in a joint statement during their summit in Turkey as awareness had risen member states lost an estimated $100 billion to $240 billion (93 billion euros to 223 billion euros) a year in tax revenue through corporate practices known as Base Erosion and Profit Shifting (BEPS).

They were triggered by public anger over reports the huge multinational corporations like Starbucks or Google, get away with paying nearly no tax at all because the skilfully exploit legal loopholes, or get preferential tax deals from governments.

The leaders may even agree that each one nations ought to assist handle the migrant disaster, which is predicted to convey a million individuals from the Middle East and Africa to Europe this yr alone, via accepting refugees and humanitarian assist.

The world leaders also pledged to work together to strengthen global aviation security as they voiced concerned over the acute and growing flow of foreign terrorist fighters and the threat it poses for all States.

In a separate statement the G20 said they would work more closely together to “suppress terrorist acts”, after gunmen and bombers from Islamic State went on a killing spree in Paris on Friday, killing 129 people and wounding more then 350 others.