Global Action

Brazil to urge maintaining economic growth at G20

(Xinhua)
Updated: 2010-06-25 10:14

BRASILIA - Brazilian President Luiz Inacio Lula da Silva will call on other countries to maintain their stimulus measures to boost economic growth when he attends the G20 summit in Toronto this weekend, a government spokesman said Thursday.

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In addition, the Brazilian leader will also make efforts to promote reform of the International Monetary Fund (IMF) aimed at greater voting power for developing countries, strengthening international standards for financial markets regulation and an early conclusion of the Doha round talks of the World Trade Organization (WTO), presidential spokesman Marcelo Baumbach told a press conference.

Baumbach said that for the first time in a G20 summit the issue of international trade would be addressed in a whole debate session, during which Lula would stress the need to conclude WTO's Doha Round talks.

"In particular, President Lula will defend the need for world leaders to demonstrate political will to intervene directly to bring the conclusion of the Doha Round with the package on the table since 2008," he said.

According to the spokesman, Lula will possibly have bilateral meetings with French President Nicolas Sarkozy and German Chancellor Angela Merkel on Saturday.

Lula will also meet US President Barack Obama on the sidelines of this summit, he said.

At the Toronto summit, leaders of the 20 developed and developing countries will discuss the global economic situation and take stock of the measures agreed at the previous summits, the last of which was held last September in Pittsburgh, the United States.

The G20 group comprises Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United States, and the European Union, which is represented by the rotating presidency of the EU Council and the European Central Bank.