EU PRIORITIES AT THE G20 MEETING IN HANGZHOU, PRC

1.  Role of G20 in tackling the international refugee crisis

• Urging the G20 to continue to support international efforts, and contribute to achieving successful outcomes addressing large movements of refugees and migrants at the United Nations, and the summit on refugees hosted by President Obama.
• Calling for scaling up humanitarian and development assistance, resettlement, support for refugees and their host communities through international financial institutions and tackling irregular migration.         

2.  Boosting jobs, growth, and investment

• Underlining the importance of a credible narrative for sustainable and inclusive growth, which puts to work all available policy tools - monetary, fiscal and structural.
• Calling for accelerating the implementation of strategies ( G20 Hangzhou Action Plan and the updated Growth Strategies) with the objective to lift global growth by 2% by 2018.
• Seeking to advance the work on growth-friendly composition and efficiency of public finances.
• Considering actions to facilitate entrepreneurship, promote decent work, foster apprenticeships and equip workers with the right skills.

3.  Pushing forward the work on international tax transparency and combatting the financing of terrorism

• Exchanging information under the Global Standard on the Automatic Exchange of Information (AEOI) with all interested partners by 2018 at the latest; as well as adhesion to the Multilateral Convention on Mutual Administrative Assistance in Tax Matters; and joining the Base Erosion and Profit Shifting (BEPS) Inclusive Framework.
• Standing together in combatting the financing of terrorism. Financial Action Task Force (FATF) to fully implement its strategy to combat terrorism financing, and take steps to enhance the effectiveness of the network of FATF and FATF-style regional bodies.

4.  A resilient international monetary and financial system

• The intended refinements of the Basel III framework need to be subject to a thorough impact analysis and capital requirements must not be significantly increased in any of the major regions of the world. The work of the Basel Committee, should conclude by the end of 2016 to ensure regulatory certainty. On central counterparties we now need to push forward on the resolution framework.
• The G20 should also make a sound analysis of the combined effects of the agreed financial reforms to ensure their consistency with G20's overall objectives. The consistent implementation of Total Loss Absorption Capacity, effective cooperation in the event of cross-border resolution and the finalisation of the over-the-counter derivatives reforms remain priorities.
• As regards the international financial architecture, it is particularly important that Leaders reaffirm their commitment to maintaining a strong and adequately resourced International Monetary Fund equipped with an effective toolbox. 

5.   The G20 must make the case for open trade and investment

• Reversing the slowdown in the growth of trade and foreign investment. This means reinvigorating efforts to open markets and level the playing field, and to communicate the benefits of trade to citizens while addressing their concerns.
• G20 should provide genuine guidance for the future global trade and investment agenda. The pledge to resist protectionism should not only be renewed but reinforced in practice. Urgent and effective action is needed to cut overcapacity in the steel and other sectors, including by tackling subsidies and other market-distorting measures that have contributed to it.
• The World Trade Organisation (WTO) Trade Facilitation Agreement should be ratified this year and fully implemented. It is also time to open up discussions in the WTO to new issues such as digital trade, investment or export restrictions. As a first step towards greater policy coherence in the area of investment, the EU will endorse the G20 Guiding Principles for Global Investment Policy-making.
• Moreover, the G20 should recognize the valuable contribution to trade liberalisation and rule-making of WTO-consistent plurilateral, regional and bilateral trade agreements.
• Expecting the G20 to give a strong push for concluding the Environmental Goods Agreement in 2016, which will be good not only for global economic growth but also for the environment.

6.   Taking forward the implementation of 2030 Agenda for Sustainable Development and the Paris Agreement on climate change

• Endorsement of a G20 Action Plan on the 2030 Agenda for Sustainable Development outlining the collective contributions of the G20 to poverty reduction and sustainable development.
• Sustaining momentum for swift ratification and implementation of the Paris Agreement. The G20 should continue work on green and climate finance, sustainable energy, and phase out of inefficient fossil fuels subsidies. It should also support reaching agreements this year on an effective global market-based mechanism to stabilise international aviation emissions in the International Civil Aviation Organization (ICAO) and to phase down hydrofluorocarbon emissions under the Montreal Protocol.