OECD Ministers reinforce importance of investment for strong, green and inclusive growth
08 June 2015
Posted by: Author: OECD
OECD ministers have closed two days of discussions on how to unlock investment in order to promote strong, green and inclusive growth, boost productivity and create jobs.
Chaired by the Netherlands, the OECD’s Annual Meeting at Ministerial Level reinforced member governments’ support across a broad range of key OECD work - from improving the quality and effectiveness of investment to supporting the New Approaches to Economic Challenges initiative.
OECD Secretary-General Angel Gurría said the meeting was "rich and productive”. "We have been given a lot of homework, ” he added.
In both the Chair’s Summary and Ministerial Statement, ministers stressed the key role of investment, not only to sustain the cyclical recovery, but also to raise productivity, support labour markets and contribute to broader economic, social and environmental goals.
In their closing statement, ministers said they will look to ensure that accommodative financial conditions translate into improvements in the real economy. They agreed that measures to support demand, promote investment and resist deflationary tendencies remain necessary. They underlined that a robust recovery requires a balanced approach to fiscal, monetary and structural policies.
They said they remain committed to supporting ambitious outcomes at the COP21 talks on climate change in December 2015 and at the Financing for Development conference in Addis Ababa in July . They called for the implementation of the WTO Trade Facilitation Agreement and all other elements of the Bali agreement on lowering trade barriers.
Ministers welcomed progress made in tackling tax evasion through the OECD/G20 Base Erosion and Profit Shifting (BEPS) project and automatic exchange of information. Other topics covered included corporate governance, innovation, skills and lifelong learning.
Ministers also welcomed progress made by Colombia and Latvia in their ongoing processes to join the OECD and the opening of accession discussion with Costa Rica and Lithuania.
Please click here to watch the webcast of the final press conference.
This article first appeared on oecd.org.