The Commonwealth and La Francophonie engage with the G20

16 November 2015
News

Commonwealth Secretary-General, Kamalesh Sharma, and the Secretary-General of La Francophonie, Michaëlle Jean, share perspectives on development with the G20 group of nations.

The Secretary-General of the Commonwealth, Kamalesh Sharma, and the Secretary-General of La Francophonie, Michaëlle Jean, have shared perspectives on development with the G20 group of nations through an exchange with Recep Tayyip Erdogan, President of Turkey and current president of the G20.  Their submission was made just before the annual summit of G20 leaders in Antalya, Turkey.

The two Secretaries-General emphasised the need to safeguard remittances in the face of tough rules meant to combat money-laundering and the financing of terrorism. Millions of people who have moved to developed countries send money back to their countries of origin. These remittances are an essential part of local economies in Commonwealth and La Francophonie countries, where they help millions of poor and vulnerable families. But with new, stricter regulations in place, many banks are considering whether it is worth the risk to facilitate the flow of funds. Remittances exceed development assistance and even foreign direct investment in some developing countries, so recipient nations can ill afford to lose them.

To make sure that remittances are not unfairly affected, the two leaders proposed to strengthen the voice of developing countries in international discussions about financial regulation and taxes. 

This issue, the Secretaries-General emphasised, is of utmost importance on the eve of the COP 21 climate change summit in Paris. That is where major financial commitments are expected to help countries adapt to climate change, in line with the Addis Ababa Action Agenda and Agenda 2030 for Sustainable Development. 

"I applaud the President of Turkey, Recep Tayyip Erdogan, for his country's leadership of the G20 grouping," stated Kamalesh Sharma,Commonwealth Secretary-General.  "This exchange between the Commonwealth, La Francophonie and the G20 helps to provide the perspectives of developing countries to the G20.  We value the G20 focus on securing opportunities for vulnerable and low income countries."

Together, the Commonwealth and La Francophonie speak on behalf of more than 100 developing countries.