Recovery 'by no means fully assured': Harper to G20 officials
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OTTAWA, March 18 AFP
March 19 2010, 07:38AM
The global economic turnaround is "by no means fully assured," Canadian Prime Minister Stephen Harper told G20 representatives gathered here Thursday to plan a June summit in Toronto.
"We can't lose sight of what remains our biggest collective challenge -- the recovery is by no means fully assured," Harper told diplomatic officials dubbed "sherpas" from the world's 20 leading economies.
"Too many citisens in all of our countries, are still feeling the recession's impacts," he said.
The sherpas were in Ottawa for two-day talks aimed at firming the agenda for the June 26-27 G20 summit in Toronto.
The G20 must continue its stimulus measures, Harper said, but "at the same time, it also behooves us to put our minds to how these will be balanced with exit strategies."
The G20's efforts are helping to "lessen the impact of the crisis, and to encourage a faster recovery," he said. In this regard, the G20 deserves to be the leading forum for international economic cooperation, he added.
But the ultimate test of its relevance will not be in "its ability to respond to the crisis, but also its capacity to help lead the world through recovery and beyond," he said.
Harper notably warned against protectionism.
In the new global economy, "we are all in the same boat" and though it is "natural" for all to defend their national interests, the "national interest must be enlightened," he said.
It must take into account "the long-term needs of the entire global economy if that global economy is to prosper."
Harper called for progress on a global framework launched at the last G20 summit in Pittsburgh for long-term growth that is balanced and sustainable.
He also signaled an "urgent" need to put in place agreed financial regulatory reforms "within the agreed timeframe."
The G20, he said, must continue "to make real progress in delivering on the actions agreed to in Washington, London and Pittsburgh."
