Commonwealth welcomes G20 Summit outcomes

Commonwealth Secretary-General Kamalesh Sharma has welcomed the outcomes of last week’s G20 Summit in Seoul, South Korea, despite the mixed reviews it was given.

Mr Sharma applauded the G20’s commitment to developing countries which had its roots in the London summit last year, and which received a boost this year in Toronto and Seoul.

“Where Seoul succeeded was in signalling a new era of G20 engagement on global economic development, and a detailed roadmap to achieve it. This must continue in the lead up to the next Summit in Paris, France, next year,” the Secretary-General said in a statement on 19 November 2010. “Many of the things for which we lobbied are now at play, and all focus on economic growth to narrow development gaps.”

The Secretary-General added: “The G20 has explicitly acknowledged that its actions have consequences for those not represented at its table. It has recognised the need to engage developing countries as equal partners, and to consult with them continuously. Alongside the Organisation Internationale de la Francophonie, the Commonwealth has encouraged that dialogue, and is ready to help realise it.”

Mr Sharma stressed that the current global economic crisis has ravaged growth, reserves, fiscal and financial stability and social safety nets in the world’s poorest, smallest and most vulnerable countries, undermining years of effort to build resilience.

He repeated that for developing countries this is largely an external crisis born of external factors, and that the funds needed to combat it will require richer countries’ political will.

“In Paris, we must hope that the G20 will deliver some tangible gains for sustainable development in the world’s poorest, smallest and most vulnerable countries”, said Mr Sharma.

The Commonwealth includes five G20 members, and nearly 50 developing country members.

Key Links:

• Economic Development

Related News:

• G20 Seoul Summit