Harper: real progress needed before G20 Toronto summit

2010-03-19 06:36:00 GMT2010-03-19 14:36:00 (Beijing Time) Xinhua English

Canadian Prime Minister Stephen Harper (3rd R) speaks during the three-day Sherpas' meeting for the G20 summit, which is to be held in June in Toronto, in Ottawa, Canada, March 18, 2010. Harper said that the G20's efforts are helping to minimize the impact of the crisis and to favor a more rapid recovery, which is by no means fully assured. (Xinhua/Prime Minister Office of Canada)

OTTAWA, March 18 (Xinhua) -- The upcoming G20 summit will be another chapter in the historic role the group has played in dealing with the most severe financial and economic crisis facing the world since the Great Depression, Canadian Prime Minister Stephen Harper said here on Thursday.

In his opening remarks to the three-day Sherpas'meeting for the summit, which is to be held in June in Toronto, Harper said that the G20's efforts are helping to minimize the impact of the crisis and to favor a more rapid recovery, which is by no means fully assured.

He said that the G20, credible as a principal global forum for economic leadership, must honor its past commitments by taking policies of effective and sustainable monetary and fiscal measures, sound and well-regulated financial institutions, open and competitive trade flows.

However, Harper also pointed out that the G20's role will be judged by its ability, not just to respond to crisis, but also its capacity to help lead the world through recovery and beyond.

Talking about the national interest, Harper stressed that it must take into account the overall, long-term needs of the entire global economy if that global economy is to prosper.

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