Lee Myung-Bak, President of Korea visited Toronoto in Canada. The G-20 Financial Summit he attended has ended. During the summit, President Lee discussed the importance of industrial development in line with Green Growth and regulations and reform in financial sectors and related international bodies and studied coordination between countries in regards to the overall financial crisis around the world and economic recovery with world leaders.
At its 4th G20 summit in Toronto, leaders agreed to cut national budget deficits in half by 2013 without stunting economic growth. Summit host Prime Minister Stephen Harper said the group's richest members should halve their deficits within three years. And it is known that every major G20 country had already committed to that target before the summit.
Meanwhile at the third Korea-SICA (Central American Integration System) Meeting on Jun. 29, the President will make efforts to contribute further to long-held friendly ties between Korea and the South American countries by discussing ways to expand regional cooperation on a practical level. President Lee will then hold exclusive summit talks with the heads of other SICA member nations attending the meeting.
President Lee's final destination from Jun. 30 to Jul. 2 is Mexico. He will meet with Mexican President Felipe Calderon and discuss mutual cooperation in the fields of trade, investment, airlines, infrastructure-energy, culture and consular matters, together with mutual concerns on global issues. A joint statement will be released afterwards. The President's state visit to Mexico, the world's 13th biggest emerging economy, is expected to bring the two countries even closer in terms of strategic partnership.
