Trade and Investment

In 2016, the Trade and Investment Working Group (TIWG) was established under the Chinese G20
Presidency and since then has been carried on by all successive G20 Presidencies. The OECD
supports the G20’s work on trade and investment through its active participation in the Trade and
Investment Working Group (TIWG). Some of the areas where the OECD has contributed to the
G20’s trade and investment discussion include trade and investment policy responses to the COVID-
19 crisis, global value chains, digital trade and cross-border data flows, trade in services, investment
facilitation, and FDI screening.

In 2021, the Italian G20 Presidency has put at the core of its trade agenda the WTO reform; trade in
services and investment facilitation; as well as trade and health, with level playing field and
sustainability issues playing a central role, together with boosting MSMEs international
competitiveness. The OECD supported this agenda with analytical inputs on the resilience of GVCs,
trade in services – including digital trade, level playing field issues and transparency of government
support, and investment facilitation. The OECD also provided insights for the Policy Toolkit on
‘Promoting Born Green via Digital MSMEs and Entrepreneurship in Global Supply Chains’.

Resilient Supply Chains

COVID-19 has placed significant strains on supply chains, with serious implications for international
trade and investment. This experience demonstrates that international supply chains will continue to
be subjected to unexpected disruptions.  Citizens around the world will continue to demand that
governments take steps to ensure security of supply, and policy makers will need policy solutions
that address these expectations without resorting to beggar-thy-neighbour measures. 
The OECD informed its G20 contributions in 2021 on the basis of the OECD toolkit for Resilient
Supply Chains built on 4 key dimensions:  1) Anticipating risks to develop the necessary strategies
and governance arrangements to manage them and analyze their potential disruptions; 2)
Minimising exposure to shocks through resilient critical infrastructure, enablers of digital trade, sound
procurement management and regulatory flexibility; 3) Building trust through firm-level risk
management strategies, public-private action plans, the stress testing of supply chains, and strategic
governance at the national level; 4) Keeping markets open by promoting predictable and transparent
trade and investment policy regimes, and further promoting trade facilitation and international
regulatory cooperation.

Recent OECD Contributions to the G20

 28th OECD-WTO-UNCTAD report on G20 trade and investment measures  (November 2022)
 G20 Trade Ministers declaration 2021
 OECD-WTO-UNCTAD report on G20 Trade and Investment Measures (2021)
 Extraordinary G20 Trade and Investment Ministerial Virtual Meeting  (March 2020)
 Revised OECD Code of Liberalisation of Capital Movements  (May 2019)
 Effective Approaches for implementing the High Level Principles on SME Financing  (July
2018)
 The OECD Code of Liberalisation of Capital Movements: Update on Developments  (July
2018)
  ITC-OECD-UNCTAD-WBG-WTO Background Note on Trade and Investment Aspects of the
New Industrial Revolution (April 2018)

Monitoring of Trade and Investment Measures

Mandated by Leaders in 2009, the OECD – with WTO and UNCTAD – has been monitoring and
regularly reporting on G20 countries’ trade and investment policies. The OECD monitors G20
countries’ commitment to keep markets open and refrain from “raising new barriers to investment or
to trade in goods or services, imposing new export restrictions, or implementing WTO inconsistent
measures to stimulate exports.”

Making Trade Work for All

Faced with an increasing backlash against globalization and public skepticism about the benefits of
trade, the G20 addressed with the support of the OECD and other international organisations the full
range of policy responses that can make the economic and trade system work better for more
people, and assessed the impact of trade-related measures that open or restrict market access. In
its report Making Trade Work for All, the OECD addressed the trade backlash and how to make
trade improve lives and create new opportunities for all.

Trade and Investment Nexus

During its G20 Presidency, China put the nexus between trade and investment on the agenda. In
2016, Trade Ministers endorsed the G20 Guiding Principles for Global Investment Policymaking.
Building on its existing body of work (i.e., the G20/OECD Principles of Corporate Governance and
the OECD Guidelines for Multinational Enterprises), the OECD contributed substantively to the
TIWG’s broader discussion on policy coherence in the trade-investment nexus as well as on
investment facilitation and related policy issues.

Global Forum on Steel Excess Capacity

Low steel prices, weak profitability and trade disturbances are some of the effects of excess capacity
that are being felt by steel manufacturers around the world.  The OECD acts as a facilitator of the
Global Forum on Steel Excess Capacity, set up by G20 Leaders in 2016 to commonly address this
issue

Infrastructure Investment
Infrastructure plays a crucial role in the global economy. The availability of transport, communication,
electricity, safe water and sanitation, health infrastructure and other basic facilities has a tremendous
impact on improving the quality of life and well-being. Infrastructure facilities and services are
instrumental to efficient production, transport and trade that all spur economic growth, which in turn
helps in reducing poverty. Recognising the essential role that long-term financing for investment
plays in supporting strong, sustainable, balanced and inclusive growth, G20 Finance and Central
Bank Deputies established a Study Group on Financing for Investment in 2013, which was
transformed into the Infrastructure Investment Working Group (IIWG) in 2014 and then into
the Infrastructure Working Group (IWG) at the end of 2017.
The OECD, drawing on its longstanding expertise and extensive work on long-term investment, has
been a key contributor to the G20 work on financing for infrastructure and an active member of the
IIWG and IWG. In 2013, upon G20 Leaders’ request, the OECD helped develop the G20/OECD
High-Level Principles for Long-term Investment Financing by Institutional Investors. Following a call
from Leaders, the OECD has continued its work on institutional investors through the G20/OECD
Task Force on Institutional Investors and Long-Term Financing. Recent contributions include,
amongst other, the OECD Reference Note on Environmental and Social Considerations in Quality
Infrastructure in 2019 or the G20/OECD Report on the Collaboration with Institutional Investors and
Asset Managers on Infrastructure in 2020 (for a fuller list of selected contributions see below). With
the Italian Presidency 2021 the OECD is continuing the work on long-term investment financing and
the collaboration with institutional investors.

Infrastructure as an asset class

Under the Argentinian Presidency in 2018, the G20 has developed “The G20 Roadmap to
Infrastructure as an Asset Class”, endorsed by Finance Ministers and Central Banks Governors in
March 2018. The Roadmap aims to address common barriers to the emergence of infrastructure as
an asset class, including the heterogeneous nature of infrastructure assets, the lack of a critical
mass of bankable projects and insufficient data to track asset performance. The Roadmap is a major
step to mobilize more private infrastructure investment, and particularly in infrastructure that support
sustainable growth. The OECD has been a key supporter of the G20 agenda to develop
infrastructure as an asset class in particular on the diversification of financial instruments for
infrastructure and on addressing data gaps.
In order to support these efforts, the OECD, along with the World Bank, prepared a Stocktake of
Tools and Instruments Related to Infrastructure as an Asset Class. The stocktake identifies
numerous gaps for further consideration by the G20 and other fora; including implementation of
existing instruments, standardisation, and also the need for new guidance for instance on the
treatment of new technologies such as blockchain. The OECD also acts as the Secretariat and
contributes to the Infrastructure Data Initiative, which brings together MDBs and other stakeholders
including private investors, with the aim to address data gaps and information asymmetries that
hinder infrastructure investment.
Under the Japanese G20 Presidency in 2019, the G20 enhanced its attention to quality
considerations of infrastructure development and investments. It notably adopted the G20 Principles
for Promoting Quality Infrastructure Investment, covering issues such as the economic efficiency in
view of infrastructure life-cycle cost, the integration of environmental and social considerations in
infrastructure investments, infrastructure governance and resilience against risks including natural
disasters. The OECD supported these efforts, notably with the OECD Reference Note on
Environmental and Social Considerations in Quality Infrastructure, the OECD/IMF Reference Note
on the Governance of Quality Infrastructure Investment and the OECD Compendium of Policy Good
Practices for Quality Infrastructure Investment. In addition, the OECD, in collaboration with the
Global Infrastructure Hub and the World Bank, is supporting the Quality Infrastructure Investment
Database. This joint initiative brings together different reports and analysis related to quality
infrastructure investment.
During the Presidency of Saudi Arabia in 2020, adopting the G20 Riyadh InfraTech Agenda, the G20
turned its attention to the role of technology in helping countries make well-informed infrastructure-
related decisions and achieve more efficient financial outlays, by mobilizing private sector
investment, by enhancing service delivery and by achieving environmental, social and economic
benefits. The G20 also further advanced the quality infrastructure and infrastructure as an asset
class agendas. The OECD produced the G20/OECD Report on the Collaboration with Institutional
Investors and Asset Managers on Infrastructure, which was welcomed by G20 Leaders and reflects
investors’ views on issues and challenges affecting private investment in infrastructure. In addition
the report presents a set of proposals to improve the investment environment for infrastructure.
Given the impact of the COVID-19 pandemic, the G20 further discussed the role of infrastructure
investments as part of recovery efforts and the importance of the crisis-resilience of infrastructure
systems. On the latter, the OECD supported the G20 with the OECD's Progress Note on COVID-19
and a New Resilient Infrastructure Landscape – October 2020.
The OECD will continue to work on these topics in 2021 with the Italian G20 Presidency.

Most Recent OECD Contributions to the G20

 Unlocking infrastructure investment  (December 2021)

 Building Resilience: New Strategies for Strengthening Infrastructure Resilience and

Maintenance

 G20/OECD Report on the Collaboration with Institutional Investors and Asset Managers on
Infrastructure

 OECD Reference Note on Environmental and Social Considerations in Quality Infrastructure  

 OECD/IMF Reference Note on the Governance of Quality Infrastructure Investment   

 OECD Compendium of Policy Good Practices for Quality Infrastructure Investment  

 G20/OECD/WBG Stocktake of Tools and Instruments Related to Infrastructure as an Asset

Class Progress Report (July 2018)

 G20/OECD Effective Approaches for Implementing the G20/OECD High-Level Principles on

SME Financing (July 2018)

 Supporting the Infrastructure Data Initiative – Summary of the Workshop on Infrastructure as

an Asset Class and Data Collection for Long-term Investment  (November 2017)
 

 G20/OECD Guidance Note on Diversification of Financial Instruments for Infrastructure and

SMEs (2016)

 Effective Approaches to Support Implementation of the G20/OECD High-Level Principles on

Long Term Financing by Institutional Investors (2015)

 Taxonomy of instruments and incentives for infrastructure financing  (2015) 

 G20/OECD High-Level Principles for Long-term Investment Financing by Institutional

Investors (2013)

International Taxation
Since the London Summit in April 2009, the OECD has been at the forefront of fighting against tax
evasion, ending bank secrecy and tax havens, and addressing tax avoidance by multinational
corporations. OECD contributions to the G20 on tax have helped to reform, reshape and modernise
the international tax architecture.
The OECD Secretary-General presents reports to G20 Finance Ministers and Leaders to update
them on the progress of international tax co-operation.

Base erosion and profit shifting (BEPS)

Costing governments an estimated USD 100-240 billion in lost corporate income tax revenues per
year, tackling BEPS effectively is a global issue, requiring a coherent global approach.
For the first time ever in international tax matters, OECD and G20 countries worked together to
develop the OECD/G20 BEPS Package to equip governments with domestic and international
instruments needed to tackle tax avoidance.
At the request of G20 Leaders in 2015, the OECD established the OECD/G20 Inclusive Framework
on BEPS (Inclusive Framework), now covering 141 members representing a wide diversity of
economic profiles, including a significant number of developing countries. All of the members
participate on an equal footing. They are committed to implementing the BEPS measures, to
undertake peer reviews concerning the BEPS minimum standards, and to finalise the remaining
standard-setting work, in particular in relation to transfer pricing.

Addressing the tax challenges arising from the digitalisation of

the economy
Addressing the tax challenges raised by digitalisation is currently the top priority for the Inclusive
Framework, and has been a key area of focus of the BEPS Project since its inception. This work has
delivered several important outputs covering both direct and indirect tax issues.
As of November 2021, 137 member jurisdictions of the Inclusive Framework, representing more than
90% of global GDP, have joined a landmark agreement to address the tax challenges arising from
the digitalisation of the economy. The Two-Pillar Solution and Detailed Implementation
Plan, endorsed by G20 Finance Ministers and Central Bank Governors at their meeting in
October, provide an ambitious timeline for the effective implementation of the new rules by 2023.

Recent OECD contributions to the G20

 OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank
Governors (India, February 2023) - Version française
 OECD Secretary-General Report to G20 Leaders on the Establishment of the Inclusive
Forum on Carbon Mitigation Approaches (Indonesia, November 2022) - Version française
 OECD Secretary-General Tax Report to G20 Leaders  (Indonesia, November 2022) - Version
française
 OECD Secretary-General Report to G20 Finance Ministers and Central Bank Governors on
the Establishment of the Inclusive Forum on Carbon Mitigation Approaches (Indonesia,
October 2022) - Version française
 OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank
Governors (Indonesia, October 2022) - Version française
 OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank
Governors (Indonesia, July 2022) - Version française
 OECD Secretary-General Tax Report to G20 Finance Ministers and Central Bank
Governors (Indonesia, February 2022) - Version française
 Tax Policy and Gender Equality: A Stocktake of Country Approaches  (Indonesia, February
2022)
 View all

Tackling COVID-19
Today, most G20 economies are in the recovery phase of the COVID-19 crisis, during which they
will need to create the conditions for robust, resilient and inclusive economic growth, which will be
essential in supporting government finances in the future. Tax policy is a key component of
governments’ strategies to respond to the pandemic and build a sustainable and inclusive recovery.
Under the Italian G20 Presidency, the OECD has delivered key outputs related to COVID-19,
highlighting some of the implications for public finances, and of tax systems in particular, and
presented a range of broader structural trends and challenges that countries face, such as the
impact of ageing populations, digitalisation, and the need for decarbonisation, among other
challenges.

Tax and the environment

A progressive transition to net zero greenhouse gas emissions by around the middle of the century
is essential for containing the risks of dangerous climate change. Limiting global warming to 1.5°-
2°C will require climate policy packages that drive transformative changes in production and
consumption patterns. While some policies apply an explicit price to carbon emissions, others have
the effect of creating an implicit price, with policy mixes depending on countries' specific economic
circumstances. With G20 countries accounting for around 80% of greenhouse gas emissions, the
G20 is well placed to take forward a structured and systematic dialogue on the role of implicit and
explicit carbon pricing that can facilitate greater co-operation among G20 members.
The OECD's work in this area under the Italian G20 Presidency, has focused on carbon pricing,
taking stock of current pricing patterns, identifying reform needs to meet mitigation pledges, impacts,
and opportunities, and comprehensive approaches to addressing political economy concerns.
According to latest OECD data (October 2021), average carbon prices have risen in G20
economies. But despite significant progress, carbon prices are still too low to meet long-term climate
ambitions.

Global Forum on Transparency and Exchange of Information for

Tax Purposes
Established in the early 2000s, the Global Forum on Transparency and Exchange of information for
Tax Purposes has served its members (originally only consisting of OECD countries) in addressing
the risks to tax compliance posed by non-cooperative jurisdictions. In 2009, in response to the G20’s
call to strengthen implementation of the tax transparency standards, the Global Forum was
restructured and today over 160 members are collaborating on equal footing. Through its in-depth
peer-review process, the Global Forum monitors countries’ progress in implementing the EOIR
Standard, delivering recommendations and assigning an overall rating against the standard.
Responding to a G20 call to further enhance transparency, the OECD also developed the global
Common Reporting Standard (CRS) for the automatic exchange of financial account information
(AEOI). Endorsed by G20 Leaders in 2014, the AEOI Standard is a game-changer in terms of
deterring and detecting tax evasion, allowing governments to trace assets shifted offshore that were
previously unidentified. About 100 jurisdictions have already started to exchange financial account
information automatically and over 115 jurisdictions are expected to exchange such information by
2023. The Global Forum has delivered the first assessment of the legal frameworks put in place to
implement AEOI and commenced the peer review of their effectiveness in practice.

Tax certainty
In the context of international taxation, concerns over uncertainty in tax matters and its impact on
cross-border trade and investment heightened. At the request of G20 Leaders in Hangzhou, the
OECD and the IMF explored the nature of tax uncertainty, its main sources and effects on business
decisions and outlines a set of concrete and practical approaches to help policymakers and tax
administrations shape a more certain tax environment.
A first report was delivered to G20 Finance Ministers in March 2017 and follow-up reports were
presented in July 2018 and June 2019. The Secretary-General also reports on tax certainty through
his recurring tax reports to G20 Finance Ministers and Central Bank Governors (see e.g. February
and April 2021).

Strong, Sustainable, Balanced and Inclusive Growth

After the financial crisis, G20 Leaders pledged to work together to ensure a lasting recovery and
strong and sustainable growth over the medium term by implementing the G20 Mutual Assessment
Process (MAP). To meet this goal, they launched the Framework for achieving strong, sustainable,
and balanced growth, which is being implemented in the G20 Framework Working Group (FWG).
The OECD actively participates in the FWG.
As a part of its wider contribution to the Framework, the OECD has launched its Going for Growth
report, often at the margins of the G20 Finance Minister and Central Bank Governors meetings,
which identifies and assesses G20 countries’ progress to advance structural reforms that could
boost sustainable and inclusive growth.
With the pandemic outbreak, the OECD contributed under both the Saudi and Italian Presidencies in
2020 and 2021 to the Action Plan adopted by Finance Ministers to overcome the economic crisis
and its social consequences, leveraging its analysis on structural policies for the recovery and the
latest edition of the Going for Growth. The OECD has also provided the latest insights on the global
economic outlook and policy responses to the crisis in G20 economies.
The Italian G20 Presidency has also put forward several initiatives to consolidate the G20’s crisis
response and the transition towards a more sustainable, inclusive, balanced and resilient global
recovery. Under Italy’s leadership, the G20 has updated and monitored the implementation of the
G20 Finance Ministers’ and Central Bank Governors’ (FMCBG) Action Plan and reinforced its
recovery and environmental dimensions. The Italian Presidency has also advanced discussions in
the FWG on the G20’s monitoring of risks to the global economy, with a particular focus on
macroeconomic policy settings through the recovery and climate change, which have been
supported by OECD contributions on the economic impacts of environmental policies.

OECD’s contribution to the Framework

The OECD contributed to the design of the G20 National Growth Strategies under the Australian
Presidency (2014), which aimed at lifting the global GDP by 2% above the baseline by 2018 (2-in-5
ambition). Since then, the OECD, together with IMF, has been monitoring, assessing and quantifying
the implementation of the National Growth Strategies to reach the 2-in-5 ambition.
Under the Chinese Presidency (2016), G20 leaders agreed on an Enhanced Structural Reform
Agenda, which identifies nine priority areas of structural reform and a set of guiding principles. The
OECD supported this agenda by delivering to Ministers during the German Presidency, a report on
the Enhanced Structural Reform Agenda which assesses progress in structural reforms under the
nine priority areas.
Under the German Presidency, in 2017, the G20 countries adopted G20 principles to enhance the
resilience of the G20 economies. The OECD provided support for the Principles by producing a
Policy Paper on Economic Resilience and Structural Policies.
To support the Argentine Presidency’s priority on the future of work in 2018, the OECD delivered an
overview paper on the macroeconomic implications and policy needs of new breakthrough
technological advances for the future of work. The OECD also prepared papers on tax policies and
competitive conditions that informed the G20 Menu of Policy Options for the Future of Work.
In 2019, the OECD contributed to the Japanese Presidency work on fiscal challenges and inclusive
growth in ageing societies.
Under Saudi Arabia’s Presidency in 2020, as part of discussions around the macroeconomic policy
response to the pandemic and the G20 FMCBG Action Plan, the OECD put forward the report New
Horizons: Structural Policies for a Strong Recovery and a Sustainable, Inclusive and Resilient
Future. The OECD also provided analytical support to Saudi Arabia’s G20 priorities through its paper
on Enhancing Equal Access to Opportunities for All in G20 Countries.
In 2021, the OECD has delivered to the Italian G20 Presidency detailed analysis regarding
digitalisation and productivity, which has served to inform Italy’s G20 Menu of Policy Options - Digital
Transformation and Productivity Recovery endorsed by FMCBGs in July 2021. This contribution
focused on 3 key issues: i) addressing the twin issue of productivity slowdown and rising gaps in
productivity and wages; ii) harnessing the opportunities and addressing the challenges of the
development of digital platforms in G20 countries, highlighting policy options to boost their diffusion
to reap their productivity and resilience benefits while addressing their disruptive effects, including
those related to job quality and social protection; and iii) investments in intangible assets
complementary to digital diffusion, such as skills, information, innovative property, logistics and
organisational capital and their potential to reverse the global productivity slowdown and increase
resilience to shocks such as the COVID-19 crisis.

Recent OECD Contributions to the G20

 OECD-ILO paper on MSME Productivity, Inclusive Growth and Decent Work Creation (May
2022)

 Going for Growth 2021

 Spurring growth and closing gaps through digitalisation in a post-COVID world: Policies to
LIFT all boats (July 2021)

 Harnessing the productivity benefits of online platforms: Background paper (July 2021)

 Bridging the gap in the financing of intangibles to support productivity: Background paper
(July 2021)

 New horizons: Structural policies for a strong recovery and a sustainable, inclusive and
resilient future (November 2020)

 Enhancing equal access to opportunities for all in G20 countries (June 2020)

 Tax policies for inclusive growth in a changing world (July 2018)

 Maintaining competitive conditions in the era of digitalisation (July 2018)

 Achieving Inclusive Growth in the face of Digital Transformation and the Future of Work
(March 2018)

Employment, Education and Social Policies

In light of the intensity of labour market challenges in G20 countries, the G20’s employment agenda
was elevated to the working group level in 2014 with the creation of the Employment Working Group
(EWG). The OECD has made significant contributions over the years to the work on employment
and social policies notably in the areas of youth unemployment, labour activation policies, social
protection, new forms of work, and reducing the employment gender gaps, most often in partnership
with the ILO. In 2020, under the Presidency of Saudi Arabia, the OECD produced a report with the
ILO, at the request of G20 Leaders, on the Impact of COVID-19 on Global Labour Markets. The two
organizations also provided an update on progress towards the Antalya Youth Target, to reduce the
share of young people who are at most risk of being permanently left behind in the labour market by
15 percent by 2025. The OECD and ILO supported under Saudi Arabia’s Presidency the G20 Youth
Roadmap 2025, which aims to support countries to achieve the G20 Antalya Youth Goal. The
OECD, together with the ILO, was called upon to continue monitoring these matters - both the
impacts of COVID-19 on employment and the youth target, under the Italian Presidency.

Gender Equality
In 2014, the OECD analysis on the economic case for promoting gender equality (Achieving stronger
growth by promoting a more gender-balanced economy) supported the commitment by G20 Leaders
agreed to reduce the gender gap in labour force participation rates by 25% by 2025 (Brisbane
target).Since then, the OECD, together with the ILO, has been monitoring G20 countries’ progress in
achieving the Gender Target, which is captured in a report Women at Work in G20 Countries first
presented to Ministers under the German Presidency in 2017. The report also focused on improving
job quality of women as key to reducing gender gaps in both labour force participation and pay. The
OECD supported the Argentinian Presidency’s approach to mainstream gender equality across the
various G20 policy work streams. In 2018, in the Digital Economy Task Force, the OECD provided
evidence-based analysis on high impact policies to help women best address the challenges and
opportunities brought by digitalisation. The G20 Presidency of Saudi Arabia also mainstreamed
gender across working groups, and in 2020 the OECD/ILO delivered the annual Women at Work
report on progress towards the Brisbane target. During the Italian G20 Presidency, the OECD is
continuing to provide input with ILO to this workstream, as requested by Leaders in Riyadh and is
contributing to the Roadmap towards the Brisbane target which will examine gender equality in
areas beyond labour force participation, including policy options to improve job quality and
opportunities.
The OECD is also supporting the G20 EMPOWER (Private Sector Alliance for the Empowerment
and Progression of Women’s Economic Representation) Alliance.
This initiative, comprised of private sector representatives and supported by G20 governments, was
launched during the Osaka Summit in 2019 under Japanese Presidency to advocate for the
advancement of women in leadership positions in the private sector. EMPOWER met for the first
time during the Saudi Presidency and will be pursued by Italy in 2021. In 2020 the OECD supported
the EMPOWER Alliance with a stocktake on policy practices to promote women in leadership roles
in the private sector.
Hyperlink with Stocktake report: Policy Perspectives on Promoting Women in Leadership Roles in
the Private Sector

Recent OECD Contributions to the G20

 OECD-ILO paper on MSME Productivity, Inclusive Growth and Decent Work Creation  (May
2022)

 Women at Work in G20 countries: Policy action since 2020

  OECD-ILO The impact of the COVID-19 pandemic on jobs and incomes in G20 economies
2020 

 Helping disadvantaged youth: Progress and policy action towards the Antalya G20 Youth
Goal | G20 Saudi Arabia 2020 

 Options for monitoring the Antalya youth target | G20 Saudi Arabia 2020  

 OECD Note on the Governance of Education and Skills Systems  (September 2018)

 OECD Note on Future of Skills (September 2018)

 OECD Note on Effective Financing of Skills System for the G20 Education Working
Group (September 2018)

 OECD-ILO Report on Labour Market Inclusion of People with Disabilities  (September 2018)

 OECD-ILO Report on Promoting Adequate Social Protection and Social Security Coverage
for All Workers, Including those in Non-Standard Forms of Employment (September 2018)

 OECD Note on The emergence of new forms work and their implications  (February 2018)

 G20 Global Displacement and Migration Trends Report 2017  (July 2017)

 Towards a framework for fair and effective integration of migrants into the labour market ,
OECD together with ILO, IMF, WBG (May 2017)

 Women at Work in G20 Countries, OECD, ILO (May 2017)

 Promoting Sustainable Global Supply Chains: International Standards Due Diligence and
Grievance Mechanisms, OECD with contributions from ILO, IMF and WBG (May 2017)

Education & Skills

The OECD contributed to the adoption of the G20 Skills Strategy, based on the OECD Skills
Strategy under the G20’s employment stream. Under Argentina’s Presidency, that set up the
education working group, the OECD has contributed its analysis to the G20 efforts on effective
financing of education and skills systems, future of skills, and governance of education and skills
systems, based on the work of the OECD Centre for Skills and the outcomes of the PISA and PIAAC
exercises. The OECD contributed work on access to early childhood education to the Saudi
Presidency of the G20 in 2020, and is undertaking in 2021 a survey requested by the Saudi
Presidency on the use of digital technologies in early childhood education during the COVID-19
epidemic.The Italian G20 Presidency will host an Education Ministerial in June with a “back-to-back”
formula and a joint segment with the Labour Ministerial.

Migration
International migration was put on the G20 agenda in 2015 in a context of global refugee crisis. The
OECD, together with other international organisations, contributed its analysis Towards a
Framework for Fair and Effective Integration of Migrants into the Labour Market   under the German
Presidency. Ahead of the 2017 Hamburg Summit, the OECD contributed a report on migration G20
Global Displacements and Migration trends report highlighting key findings from the OECD
International Migration Outlook 2017. The OECD was asked by Leaders in Hamburg to report back
annually on migration trends and policy challenges. During the Presidency of Saudi Arabia the
OECD delivered the 2020 Annual International Migration and Forced Displacement Trends and
Policies Report prepared in cooperation with ILO, International Organization for Migration (IOM) and
United Nations High Commissioner for Refugees (UNHCR). 

Sustainable Supply Chains and Modern Slavery

Governance gaps and poor enforcement of labour laws and standards contribute to poor job quality
in global supply chains. Against this backdrop, the German Presidency aimed at strengthening
responsible business conduct to achieve sustainable and inclusive global supply chains, which led
Ministers to reaffirm their commitment to international guidelines including the OECD MNE
Guidelines. In an effort to support the German Presidency, the OECD prepared a report to the G20
Labour and Employment Ministers titled Promoting Sustainable Global Supply Chains: International
Standards Due Diligence and Grievance Mechanisms.Under the Argentinian Presidency, the OECD
continues supporting G20 efforts to implement measures to tackle modern slavery in close
collaboration with the public and private sectors by leveraging its network of National Contact Points
under the Responsible Business Conduct Guidelines and its newly adopted Due Diligence Guidance
for Responsible Business Conduct.

Job Quality, Social Protection and People with Disabilities

The OECD supported the Turkish Presidency’s focus on inclusiveness, including in the areas of
youth employment and job quality. In particular, the OECD contributed to substantiate this ambitious
policy package by contributing to the G20 Framework on Promoting Quality Jobs, in co-operation
with the ILO and supporting the adoption of a youth target. The OECD further supported under the
Chinese Presidency the endorsement of the G20 Entrepreneurship Action Plan and the G20
Initiative to Promote Quality Apprenticeship.
The OECD supported the Argentinian Presidency’s priority on Decent Work, by preparing analysis
on adapting and extending social protection for gig workers. The OECD also advanced work on
indicators to measure the development of the platform economy and provide policy principles to
improve the integration of people with disabilities into the labour market.  For the G20 Presidency of
Saudi Arabia, the OECD and ILO provided support through the contribution of evidence-based
inputs to the development of a Menu of Policy Options to provide adequate social protection for all to
reflect the changing patterns of work. Under the Italian Presidency, the OECD will continue to
support the social protection agenda.

Financial Markets and International Financial Architecture

The G20 attaches great importance to the role of the financial sector in ensuring sustainable
economic development and the stability of financial markets. The OECD supports this ambition by
contributing to the G20 discussion on capital flows, including by promoting further the relevance of
the OECD Code of Liberalisation of Capital Movements for all G20 members in the G20 International
Financial Architecture Working Group. Furthermore, the OECD has supported the G20 emphasis on
promoting small and medium-sized enterprise (SME) development, including access to finance,
participation in GVCs, corporate governance and taxation rules. The G20 adopted the G20/OECD
High Level Principles on SME financing and G20/OECD Principles of Corporate Governance.
In 2020, with the COVID-19 crisis hitting developing countries with particular force, the G20
launched the Debt Service Suspension Initiative (DSSI), extended to 2021. The G20 expressed
readiness to go beyond suspension by affording debt treatment for DSSI-eligible countries (Common
Framework for Debt Treatments beyond the Debt Service Suspension Initiative - DSSI). In support of
the G20’s efforts to advance debt transparency and sustainability, the OECD is moving towards
hosting the data repository of the Institute of International Finance (IIF)’s Voluntary Principles of Debt
Transparency. The OECD is also continuously supporting the G20 in following and analyzing capital
movements and corresponding country measures, observed since the onset of the COVID-19 crisis.

International Financial Architecture

The Code of Liberalisation of Capital Movements  (the Code) was adopted in the OECD in 1961 at a
time when many OECD countries were in the process of economic recovery and when the
international movement of capital faced many barriers.
Today, all 37 OECD countries and an increasing number of G20 members (since 2012, this
instrument is open for adherence by non-OECD countries) adhere to the Code, which has been
revised in 2019. In March 2017, G20 Finance Ministers and Central Bank Governors made a call for
non-adherents to consider joining the Code. Since then three additional G20 members have
requested adherence to the Code and their adherence process has started.
In 2016, adhering countries adopted terms of reference for a review of the Code with a view to
strengthening it and ensuring its continued relevance. The OECD regularly updates the G20 on the
review of the Code.

Recent OECD Contributions to the G20

 G20/OECD Report on Financial Consumer Protection and Financial Inclusion in the Context
of COVID-19 (October 2021)
 G20/OECD-INFE Report on Navigating the Storm: MSMEs’ Financial and Digital
Competencies in COVID-19 times (October 2021)
 G20/OECD-INFE Report on Supporting Financial Resilience and Transformation through
Digital Financial Literacy (October 2021)
 Evolution and Trends in SME Finance Policies since the Global Financial Crisis  (July 2020)
 The OECD's Report on Advancing the Digital Financial Inclusion for Youth  (July 2020)
 COVID-19 and Global Capital Flows, OECD Report to G20 International Financial
Architecture Working Group (June 2020)

Financial Consumer Protection and Financial Education

The OECD plays a leading role in developing guidelines for policy makers on financial consumer
protection and financial education, which are critical in supporting meaningful, safe financial
inclusion that contributes to inclusive growth. The OECD coordinates the G20/OECD Task Force on
Financial Consumer Protection and the OECD International Network on Financial Education
develops policy tools and research on financial literacy. The OECD is an implementing partner of the
Global Partnership for Financial Inclusion (GPFI) and its subgroup on Financial Consumer Protection
and Financial Literacy.

Following endorsement of the G20 High-level Principles on Financial Consumer Protection in 2011,

the G20/OECD Task Force on Financial Consumer Protection is supporting the implementation of
the G20 High-level Principles. In July 2012, the Principles were adopted by the OECD Council as a
Recommendation, thereby expanding the coverage of the principles to include all OECD member
countries.

Financial education is now universally recognised as a core component of the financial

empowerment of individuals and the overall stability of the financial system. In 2016, G20 Leaders
endorsed the High-Level Principles for Digital Financial Inclusion to highlight the need to strengthen
financial and digital literacy as an important component of the international policy agenda. OECD
International Network on Financial Education (INFE) has been supporting the implementation of this
High-Level Principle by preparing reports, especially considering the impact of the increasingly
digitalised economy.

OECD/INFE is also committed to supporting women’s financial empowerment and the related G20
agenda by providing policy evidence, analysis, and guidance to help policy makers address
women’s needs for financial awareness and education.

In support of the Argentinian presidency’s financial inclusion agenda as well as the implementation
of the High-Level Principles for Digital Financial Inclusion, the G20/OECD Task Force produced a
Policy Guidance Note on Financial Consumer Protection Approaches in the Digital Age and
the OECD/INFE a Policy Guidance Note on Digitalisation and Financial Literacy. Under the
Japanese Presidency, G20 Leaders welcomed the Fukuoka Policy Priorities on Financial Inclusion
and Ageing, prepared by the OECD with inputs from a range of other partners. Contributions on this
stream of work continued under the Saudi Presidency, who delivered High-Level Policy Guidelines
(HLPGs) on Digital Financial Inclusion for Youth, Women, and SMEs with the purpose to identify
policy approaches to reduce the gap in financial inclusion. The HLPGs were supported by key
reports, including two reports from the World Bank on the financial inclusion gap for women and
SMEs, respectively, and the report Advancing the Digital Financial Inclusion of Youthfrom the
OECD. The work on financial inclusion is continuing with the Italian G20 Presidency 2021. Under the
Italian Presidency, the OECD produced three reports: Navigating the Storm: MSMEs’ Financial and
Digital Competencies in COVID-19 times; Supporting Financial Resilience and Transformation
through Digital Financial Literacy; and Financial Consumer Protection and Financial Inclusion in the
Context of COVID-19. The latter two reports informed the development of the G20 Menu of Policy
Options for Digital Financial Literacy and Financial Consumer and MSME Protection. The work on
financial inclusion is continuing with the Indonesian G20 Presidency 2022.