G20 leaders summit will make better world: Abbott

Updated: 2014-11-16 17:28


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BRISBANE - People around the world will be better off as a result of the cooperation and concrete plans delivered at this year's G20 leaders summit, Australian Prime Minister Tony Abbott said on Sunday.

Abbott, whose country ran the rotating G20 presidency, was speaking after the conclusion of the Brisbane summit, and said world leaders "spoke from the heart" and "worked in a spirit of collaboration to show we can do more for the world when we work together."

"People right around the world are going to be better off, and that's what it's all about," he said.

"The thing about the G20 is that it is large enough to be representative of the wider world and it's small enough to be effective."

Abbott said Australia's presidency has not just been about " bold ideas" but also about strong execution as well.

He highlighted the key 2014 G20 agreements to make the global economy more resilient; to boost infrastructure spending; to introduce economic reforms to lift GDP by an additional 2.1 percent over five years; to improve the efficiency of global energy, and to help restore fairness to the global tax system.

He said all these measures would boost the global economy and create millions of jobs.

Abbott also confirmed that the G20 agreed to the goal of reducing the gap in participation rates between men and women in the workforce by 25 percent by 2025, adding 100 million women to the labour market.

He said the summit had a working session on global trade, which is the driver of real growth and the leaders discussed how the World Trade Organization could "work better to deliver the growth we need."

And he said climate change was also on the agenda.

The Australian prime minister said he was "very heartened and encouraged" by the candid conversations that have happened in the process and said it had been "a weekend of achievement."

"The G20 has shifted a gear from responding to events to setting an agenda for growth," he said.

"Governments can deliver and can do better and have higher growth and more jobs.

"Through cooperation, accountability, and concrete plans the countries of the world will be better off because we met together. "