Moscow says G20 Hangzhou Summit held at highest standard

MOSCOW - The just concluded Group of 20 (G20) Summit in China was held at the highest level of competency, the Russian G20 Sherpa Svetlana Lukash said Wednesday.

Speaking at a news briefing, Lukash noted that the most important result of the summit was that it embarked on encouraging the world economy development in the long run for the first time, instead of paying a lot of attention to "short- and medium-term incentives."

In this regard, the summit under China's presidency decided to focus on choosing the most effective ways of carrying out structural reforms and identifying new sources of economic growth, she said.

According to Lukash, the main success of the summit was the adoption of the Blueprint on Innovative Growth, a framework document, which defines the work plan of the G20 over the long term in terms of innovation, the potentials of the new industrial revolution and the digital economy.

The summit also stressed the importance of connecting developing countries and small and medium-sized enterprises to the existing and new global and regional trade associations, she noted.

The alignment of China's Belt and Road Initiative with the Russia-led Eurasian Economic Union is now a priority of bilateral relations, she said, adding that the cooperation between the two sides is consistent with the interconnectivity of infrastructure, one of the main themes of the G20 Summit.

She also said that Russian President Vladimir Putin met with his Chinese counterpart, Xi Jinping, on the sidelines of the summit in a very warm and frank atmosphere.