Since 2008, the world has been going through an unprecedented global economic and financial crisis; today, the global economy is showing signs of recovery and this is largely due to the close coordination and cooperation between the advanced and emerging economies through the G20 Summit process. Such level of coordination was never seen before and it has led to the earlier-than-expected recovery of the global economy.
However, the crisis is not over and challenges still remain. If we are to successfully overcome this crisis and achieve sustainable and strong growth, we must overcome these new challenges that are before us.
During the Toronto G20 Summit last June, the leaders agreed to reach an agreement on many of the important topics during the G20 Seoul Summit in November. We promised to do all that we can to bring about workable and substantive agreements on issues such as reform of international financial institutions, financial regulatory reform and balanced and sustainable growth, among others. Furthermore, we seek to achieve progress in topics of global interest, including the Global Financial Safety Net and the issue of development.
The Republic of Korea is honored to be the first host and chair from the Asian region as well as from an emerging economy. I assure you we will do our utmost to ensure success of the upcoming Seoul Summit.
It is our sincere hope that the G20 Seoul Summit will help us achieve our common goal of a strong, balanced and sustainable growth of the global economy as well as strengthening the growth potential of the global economy. We will do our best; we ask that you continue to support us.
Thank you.
Lee Myung-bak, President of Korea
Source: G20 Seoul Summit 2010
