Brussels Economic

On 7-8 July, European Council President Donald Tusk and European Commission President Jean-Claude Juncker met with other Group of Twenty (G20) leaders for a summit in Hamburg, Germany. This was the first such global meeting following the announcement by the US Administration of its intention to withdraw from the Paris Agreement on climate change.

Globalisation and technological change have contributed significantly to driving economic growth and raising living standards across the globe. However, globalisation has created challenges and its benefits have not been shared widely enough. By bringing together developed and emerging market economies, the G20 is determined to shape globalisation to benefit all people. Most importantly, we need to better enable our people to seize its opportunities.

EU is resolved to tackle common challenges to the global community, including terrorism, displacement, poverty, hunger and health threats, job creation, climate change, energy security, and inequality including gender inequality, as a basis for sustainable development and stability. We will continue to work

together with others, including developing countries, to address these challenges, building on the rules- based international order.

Expanding on the results of previous presidencies, in particular the 2016 G20 Summit in Hangzhou, EU decided to take concrete actions to advance the three aims of building resilience, improving sustainability and assuming responsibility.