G20 can't afford to forget global economy

An official adjusts a Turkish national flag prior to the start of the G20 summit in Belek in the Mediterranean resort city of Antalya, Turkey, November 14, 2015. US President Barack Obama and other world leaders arrived in Turkey on Sunday for a two-day summit that has taken on new urgency after attacks in Paris pushed the fight against Islamic State militants to the top of the agenda. [Photo/Agencies]

Although terrorism is likely to be a main talking point at the G20 summit in Turkey's southwestern seaside city of Antalya, and Francois Hollande has announced he will not attend, the planned discussions on the three main themes, "inclusiveness, investment and implementation", will still take place.

Comprised of the 19 leading economies and the European Union, the G20 accounts for more than 85 percent of the global economy, therefore, the G20 leaders are obliged to step up their coordination, particularly the major powers, with regards to strengthening the global economy and making it more inclusive and sustainable, deepening the dialogue and cooperation between G20 countries and developing economies, increasing investment, and the implementation and follow-up on commitments.

Almost 50 percent of the world's impoverished people live in non-G20 countries, and all emerging markets have more or less fallen prey to a constant decline in their growth since 2010, even though they, especially the members of BRICS (Brazil, Russia, India, China and South Africa), played a key role in saving the global economy from further deterioration during the major financial crisis that swept the world.

Apart from doubling financial aid, such as the climate change fund, to low income developing countries, the 2015 G20 Summit could encourage them to participate in other international dialogues. Inviting Azerbaijan and the New Partnership for Africa's Development to Antalya is a good start in this respect.