INTRODUCTION & WELCOME 9
Towards strong, sustainable and balanced growth
President of Mexico, Enrique Peña Nieto
The G20 is committed to develop comprehensive strategies to stimulate strong, sustainable, and balanced growth worldwide. To do so, it has played a significant role in enhancing macroeconomic policy coordination among major economies, improving financial regulation and setting the basis for international recovery
In accordance with these purposes, last February, G20 Finance Ministers and Central Bank Governors decided to coordinate efforts in order to lift the Group’ s GDP. The collective goal is to increase it by more than 2 % over the coming five years, above the implied trajectory by current policies. I am convinced we can achieve this by promoting sound macroeconomic policies and reforms, as well as, fostering investment, trade and competition. For this reason, Mexico embraces the ambitious commitment and looks forward to discussing an action plan, at the Brisbane Summit this November.
In this regard, my country has a renewed capacity to contribute to global growth. Mexicans have started an ambitious transformation agenda that includes structural changes on education, finance, energy, tax collection, economic competition, and telecommunications. These reforms, approved last year thanks to Mexico’ s main political parties’ willingness and sense of responsibility, will enhance our competitiveness and development perspectives.
Furthermore, Mexico is taking the necessary steps to unleash its full economic potential. For instance, we have set an unprecedented investment plan in infrastructure. Our National Infrastructure Program will channel almost 600 billion dollars from now to 2018. Since our country has a privileged geographical location, we are determined to use these resources, to consolidate our position as a high-value added global logistics center.
Our National Infrastructure Program will channel almost 600 billion dollars from now to 2018
Thus, Mexico is excited to co-chair the Infrastructure Investment Working Group, along with Indonesia and Germany. We believe the G20 has the required impulse to foster investment in this sector, promote financing to small and medium enterprises, and further enhance global economic development.
We assume this responsibility as an ideal opportunity to face, as a team, the new challenges of a highly interconnected world.
As one of the most open economies, Mexico fully backs the Australian Presidency initiative to hold a Trade Ministerial Meeting. We should continue strengthening this kind of discussions on G20 summits, as a means to attain more stable economic conditions, and especially, to create new employment sources and better paid jobs for our countries.
One of my administration’ s priorities is achieving a Prosperous and Inclusive Mexico. In that way, we will continue working on improving employment, food security, and financial inclusion levels, particularly for the most vulnerable people. This is why Mexicans welcome recent efforts to incorporate gender equality into G20 discussions and support parallel events to engage nonstate actors, such as the B20, L20, Think 20, Y20, and Civil 20.
I believe Australia is playing a remarkable role as G20 Chair, which will certainly lead us to a successful meeting. We must keep walking firmly towards a suitable environment for strong, sustainable, and balanced economic growth. For this reason, it is a pleasure to attend the upcoming Brisbane Summit and be part of the construction of a better future for our 20 societies. ■