10
INTRODUCTION & WELCOME
SETTING THE FOUNDATIONS
FOR ECONOMIC STABILITY
Enrique Peña Nieto, President, Mexico
Since 2008, the Group of 20 has been instrumental in placing
the world economy on the track of recovery. As financial
markets and economic growth regained steam, the G20
gradually evolved to an efficient coordination mechanism to
prevent another meltdown. Now, its agenda encompasses a
much broader range of issues, as trade, employment, energy
efficiency, ameliorating climate change effects, and ensuring
food security.
With a GDP of 1.2 trillion US dollars, Mexico –world’s 14th
economy– is a globally responsible actor. We firmly believe
in the efficacy of the G20 to continue delivering positive
changes in benefit of the world.
Mexico embraces the Turkish Presidency’s priorities on
implementation, investment and inclusion. In accordance
with the G20 commitments, my country approved ambitious
structural reforms –aimed at harnessing its economic
potential– and is implementing a National Infrastructure
Program.
The reforms create the conditions for a more productive
labor market with higher participation of women and youth;
a simplified tax system that foments compliance; and an
improved business environment that boosts competitiveness
and helps small enterprises to thrive.
They also introduce comprehensive measures to update
our financial system, raising credit supply and lowering
its rates; and foster competition in two strategic sectors:
telecommunication and energy. Finally, these reforms
promote investment in human capital and improve the quality
of teaching.
With the historical investment projected on the National
Infrastructure Program, Mexico is improving its connectivity,
by creating new highways, extending the railways, increasing
the capacity of seaports and developing airports, including a
new one for Mexico City.
“The reforms create the conditions for
a more productive labor market with
higher participation of women and
youth; a simplified tax system that
foments compliance; and an improved
business environment that boosts
competitiveness and helps small
enterprises to thrive.”
By implementing structural transformations and investing
in cutting edge infrastructure, Mexico is rising its
competiveness and productivity, with the purpose of
becoming a more prosperous and inclusive economy.
This has been a difficult year for the world, marked by low oil
prices, economic downturn in emerging markets, sovereign
debt problems in the Euro Zone and international financial
anxiety. In this scenario, the G20’s mandate to improve global
economic governance and contribute to a strong, balanced
and inclusive economic growth, becomes more relevant than
ever.
As Leaders of the G20, we bear a responsibility to set forward
the necessary political will to accelerate growth and create
better living conditions for our people. Together, we can
make the necessary contributions to complete this elevated
endeavor. Q