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Putin notes practical significance of issues discussed at G20 summit

July 09, 0:26 UTC+3

In conclusion, Putin pointed out that the G20 summit was "useful" and "will play its role in stabilization of the global economy on the whole."

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© Mikhail Metzel/TASS

HAMBURG, July 8. /TASS/. The issues discussed at a summit of the G20 Group of the world’s leading economies are extremely important and have practical significance, Russian President Vladimir Putin said at a press conference after the summit wrapped up its work on Saturday.

"The G20 is, first of all, an economic forum, although a lot of political and associated issues arise but still the main theme is the development of the world economy and this is what was in the focus of attention," the Russian president said.

"We agreed on defining the principles of the sustainable economy and this is extremely important for work according to uniform standards," Putin said.

Along with this, money laundering was in focus in connection with tax heavens and taxation, he said. According to the president, "this issue is extremely important and have practical significance." Also, Putin mentioned the war on terror and the tracing of money flows so as to prevent any financing to terrorists.

Climate change should be in focus of attention as well, he said.

"It seems to me that the chancellor of the Federative Republic of Germany has managed to reach an optimal compromise in the knotty situation … in the wake of US withdrawal from the Paris Agreement," the president said.

"An agreement, or a compromise, has been reached when all the countries recorded that the US had quit the agreement, but is ready to keep cooperating on separate issues and with separate countries to solve the climate change issues."

Putin gave some examples of the topics, which he thought were the most crucial. In particular, he noted the digital economy. Russia had put forward proposals to work out common rules in that sector, to give a definition to cyber security and to draw up a set of conduct standards in that sector.

The Russian president pointed out that the G20 leaders recognized the need to be prepared for the release of labor force, for its retraining, for new requirements, and how to work with trade unions.

"It is somewhat related to women’s rights, girls’ education. It has been discussed at many forums, but today was discussed in relation to the digital economy," Putin added.

In conclusion, Putin pointed out that the G20 summit was "useful" and "will play its role in stabilization of the global economy on the whole.".

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