PM Dung : G-20 should focus on helping developing countries

On Nov 12 evening, the two-day Summit of the Group of Twenty ( G-20) came to an end at Seoul, Republic of Korea with a joint communique featuring obvious compromises on contentious issues.

This year, the meeting focused on on the theme of global economy and a framework for strong, sustainable and balanced growth. The plenary session of the G-20 summit Seoul were also focusing on issues related to trade imbalance and monetary policies.  


According to the communique issued at the end of the summit, the G20 members said they would move toward more market-determined exchange rate systems and enhance exchange rate flexibility to reflect underlying economic fundamentals and refrain from competitive devaluation of currencies.


The G20 members said they would refrain from introducing, and oppose protectionist trade actions in all forms, and recognize the importance of a prompt conclusion of the Doha negotiations.

National, regional and multilateral responses are required. And better global financial safety nets can help, said the communique.

PM Nguyen Tan Dung ( right ) shakes hand with UN General Secratery Ban Ki-moon

Speaking at the conference, Vietnam Prime Minister Nguyen Tan Dung said that G-20 led local and global economic cooperation  was the most important reason  causing the fart recovery of world economy. ASEAN and Viet Nam were ready to co-operate with the Group of Twenty (G-20) to carry out its development agenda, affirmed Prime Minister Nguyen Tan Dung.

 

PM Dung made the statement while talking on the theme of global economy and a framework for strong, sustainable and balanced growth at the G20 Seoul Summit in the Republic of Korea (RoK) yesterday. He praised the first-ever policy combination at regional and global levels under the G-20's guidance as the largest contributor to the quick rebound of the global economy.

 

He recommended that the G-20 consider establishing a pilot policy consultation mechanism with a number of regional organisations, including ASEAN, to exchange information and views on regional and global financial and economic issues and implement the G-20's important decisions collectively. On the theme of climate change and green development , the Vietnamese PM also asked G-20 nations to do their best to reach a deal to cope with global climate change after 2012 at the 16th Conference of the Parties to the Kyoto Protocol in Mexico later this month.

 

Viet Nam as the ASEAN Chair had collaborated with other ASEAN nations to compile the ASEAN common stance on G-20 issues that had been made known to other countries and international organisations.

 

Prime Minister Dung and his entourage left Seoul yesterday evening, ending his trip to Seoul to attend the G-20 Summit at the invitation of RoK President Lee Myung-Bak.

 

Prime Minister Nguyen Tan Dung yesterday met with his Singaporean counterpart Lee Hsien Loong and ASEAN Secretary General Surin Pitsuwan prior to the plenary session of the G-20 Summit.

The meeting was initiated by Viet Nam, aimed at sharing information and seeking a consensus between Viet Nam, Singapore and the ASEAN Secretariat on the bloc's participation and initiatives at the G-20 Summit as well as stepping up bilateral co-operation between the two groups.

As the Chair of ASEAN 2010, PM Dung said that Viet Nam had worked together with other ASEAN member nations to draft documents regarding the bloc's common viewpoints on the summit's agenda as well as Viet Nam's proposals to be discussed at the summit, including the suggestion for the formalisation of G-20's invitation to the ASEAN Chair to attend G-20 summits.

 

 

by Phuong Nam - Translated by Tri Dan

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