INDIA Will Host G 20 Summit in 2022

THE 2018 G20 Buenos Aires summit   has accepted Prime Minister Narendra Modi’s proposal to hold G20 Summit in India in 2022 when India celebrates 75 years of its Independence. The just concluded 13th meeting of Group of Twenty (G20) nations held on 30 November and 1 December 2018 in the city of Buenos Aires, Argentina, was the first G20 summit to be hosted in South America. Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, México, Russia, Saudi Arabia, South Africa, Korea, Turkey, the United Kingdom, United States and European Union).Meanwhile, India’s nine-point agenda to G20 member nations calling for strong and active cooperation among them to comprehensively deal with fugitive economic offenders has been widely supported.The agenda was presented by Prime Minister Narendra Modi in the second session of the G20 Summit on international trade, international financial and tax systems.”Cooperation in legal processes such as effective freezing of the proceeds of crime, early return of the offenders and efficient repatriation of the proceeds of crime should be enhanced and streamlined,” the agenda read.India also called for joint efforts by G-20 countries to form a mechanism that denies entry and safe havens to fugitive economic offenders . India also called for joint efforts by G-20 countries to form a mechanism that denies entry and safe havens to fugitive economic offenders.“Principles of United Nations Convention Against Corruption (UNCAC), United Nations Convention Against Transnational Organized Crime (UNOTC), especially related to ‘International Cooperation’ should be fully and effectively implemented,” it said.India suggested the Financial Action Task Force (FATF) should be called upon to assign priority and focus to establishing international cooperation that leads to timely and comprehensive exchange of information between the competent authorities and financial intelligence units. FATF should be tasked to formulate a standard definition of fugitive economic offenders.FATF should also develop a set of commonly agreed and standardized procedures related to identification, extradition and judicial proceedings for dealing with fugitive economic offenders to provide guidance and assistance to G-20 countries, subject to their domestic law,” it said. India also advocated setting up of a common platform for sharing experiences and best practices including successful cases of extradition, gaps in existing systems of extradition and legal assistance, etc.It said the G-20 forum should consider initiating work on locating properties of economic offenders who have a tax debt in the country of their residence for its recovery.

 

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *