G20 summits

The G20 has played an important role in countering the global financial crisis. It was identified as the premier platform for international economic cooperation at the Pittsburgh summit, and this marks important progress in international economic governance reform. We are happy to see that our neighbour, the Republic of Korea, will host a G20 summit around the end of this year. And before that another G20 summit will be held in Canada. We hope that all parties will work together to make the two summits successful.

I believe that it is important for the international community to prioritize the following four issues at G20 summits this year: first, meet the targets for reforming international financial institutions on schedule; second, facilitate the recovery and growth of the world economy, addressing in particular imbalances in global economic development; third, continue to increase coordination on macroeconomic policies and hold discussions on exit strategy; and fourth, oppose trade protectionism in various forms and work together to facilitate a comprehensive and balanced conclusion to the Doha round negotiations.

This year is a year for the G20 to push forward its institutional development. We will work with the other parties concerned to make the G20 more democratic, transparent, fair and effective and enable it to play a bigger and more effective role in global economic governance.