Economic Cooperation
Enhanced Collaboration on Financial Regulation
Posted on March 7, 2025The G20 has agreed to greater cooperation on financial regulation to create a more synchronized global financial system. The new agreements include harmonizing banking regulations, enhancing cross-border information sharing, and preventing illicit financial activities. This cooperation is crucial for mitigating risks posed by financial globalization and ensuring that all G20 nations operate under common standards of transparency and accountability.
International Tax Coordination
Posted on March 8, 2025The G20 has moved forward with a global initiative for international tax coordination, focusing on creating equitable and transparent tax systems. The goal is to curb tax avoidance and increase cooperation between G20 countries in ensuring that multinational companies pay their fair share of taxes. This strategy seeks to reduce global income inequality by closing tax loopholes and enhancing tax enforcement across borders.
Promoting Free Trade Agreements
Posted on March 9, 2025The G20 has supported efforts to develop new free trade agreements among member nations. This includes both bilateral and multilateral trade deals designed to increase market access, reduce tariffs, and simplify cross-border trade regulations. The overarching goal is to create an open and fair trading environment that benefits all participating economies, particularly emerging markets.