DOCSLIB.ORG

India Attends G-8 Summit and Meeting of O-5 in Germany

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
India Attends G-8 Summit and Meeting of O-5 in Germany India Review A PUBLICATION OF THE EMBASSY OF INDIA, KABUL http://meakabul.nic.in VOLUME 3 ISSUE 7 JULY 2007 INDIA ATTENDS G-8 SUMMIT AND MEETING OF O-5 IN GERMANY Prime Minister of India with the leaders of G-8 and O-5 countries at the G-8 Summit, Germany, on June 8. rime Minister Dr. Manmohan Singh Britain, Canada, France, Germany, Italy, the five leaders. participated in the G-8 Outreach Japan and Russia, while the five Outreach Later, speaking to the media on the board PSummit held at Heiligendamm in Countries are, besides India, Brazil, China, the aircraft bringing him back to India, the Germany from June 6 to 8. Mexico and South Africa. Prime Minister said, “As far as substance is While in Heiligendamm, the Prime Prior to the meeting with leaders of the G- concerned, the discussions with the outreach Minister also had bilateral discussions with 8, the President of Mexico hosted a meeting countries centered on the global economy U.S. President George Bush, British Prime of leaders of the Outreach countries in Berlin and issues relating to management of global Minister Tony Blair, French President Nicolas on June 7, where the leaders discussed their climate changes. As far as the issues relating Sarkozy, Chinese President Hu Jintao and positions on global issues that are of special to the global economy are concerned, there German Chancellor Angela Merkel, the host relevance to the developing world. is a general feeling that the world economy is of the summit. The meeting was held on June 7 in Berlin. doing quite well, certainly the people talk Speaking at the G-8 Outreach Summit on Addressing the meeting, Prime Minister about the global economy, they talk of the June 8, the Prime Minister made a strong Manmohan Singh said developing countries dynamic role played by China, Brazil and pitch for burden sharing among all countries must be treated as “partners and not peti- India.” in the global efforts to control climate tioners” in the changed global scenario, Singh added: “This is a new reality which changes. “The process of burden sharing especially while dealing with key geopolitical the developed countries respect and they must be fair,” he said. “It should take into issues. He further said it was essential that recognise there could be no meaningful man- account where the primary responsibility for rich nations took the views of developing agement of the global issues in which India, the present levels of GHG (green house gas) countries seriously and treated them as China and other emerging countries... are concentration rests and not perpetuate stakeholders. The meeting, ahead of the out- not involved.” poverty among the developing countries. No reach summit with the G-8, also discussed Following this year’s summit, the G-8 and strategy should foreclose for them the possi- how the five countries could push South- the five outreach allies pledged to continue bilities of accelerated social and economic South cooperation in various issues of glob- their dialogue on key issues, including development,” he added, mentioning that al importance. investment and energy efficiency in a more India’s GHG emissions are among the lowest Climate change, the Doha Development structured manner under what is being called in per-capita terms. Round of global trade talks and inclusive the Heiligendamm Process. The influential G-8 comprises U.S., growth were among the issues discussed by Continued on page 2 G-8 SUMMIT India attends G-8 Summit and meeting of O-5 in Germany Continued from page 1 Under the Heiligendamm Process, pro- posed by Chancellor Merkel, the outreach partners will continue to discuss and review progress in four key areas till the 2009 sum- mit in Italy — cross-border investment, research, development and energy efficiency. In a joint statement issued after the G-8 Outreach Summit, the two sides said: “We commit to embark on a high-level dialogue on specific challenges as proposed by the G- 8 as a follow-up to continue discussions in a more structured manner for a period of two years until the G-8 Summit in 2009.” The engagement between G-8 and the outreach partners has been more informal in nature which some of the members now want to institutionalise. In energy, the two sides said they would not only promote cost-effective use of fossil fuels Prime Minister Manmohan Singh addressing at a meeting with the leaders of Outreach Countries (O-5) and clean coal technology, but also increase during the G-8 Summit at Berlin in Germany on June 7. the use of renewable energy sources. They also committed themselves to the ‘G-5’ leaders propose a separate summit UN Framework Convention on Climate razilian President Luis Inacio Lula da Silva has proposed that the group of outreach Change and said they would also follow the Ballies (G-5) — India, Brazil, China, Mexico and South Africa — get together again at principles of common but differentiated a forum other than that of the G-8 so that its own meetings are no longer incidental to the responsibilities. meetings and agenda of the eight most industrialised countries. Welcoming the proposal, Coming to global governance, the five out- Prime Minister Manmohan Singh, quoting Jawaharlal Nehru, said that developing coun- reach countries reiterated the need to make tries were partners and not petitioners before the chanceries of the world. The five agreed the structures of global governance more to instruct their foreign ministers to meet this autumn on the sidelines of the U.N. General democratic, representative and legitimate by Assembly to “coordinate their positions” on issues of common interest. The idea is not to increasing the participation of developing stop engaging with the G8 but to explore the full range of issues that the G5 can work on countries in the decision-making bodies of itself. ! multilateral institutions. ! PM’s Intervention on Climate Change at Heiligendamm Meeting of G8 plus 5, June 8, 2007 Madam Chancellor, Dear Colleagues, We must work together to find pragmatic, opment processes. I must thank you for raising this issue, of practical solutions, which are for the benefit Adaptation is the key for developing such significance for us and our future gen- of entire humankind. These should include countries. It needs to be adequately erations. We all have a vested interest in mitigation and adaptation strategies with fair resourced without detracting funds meant making our planet secure for our children burden sharing and measures to realize sus- for development, which, in any case, is the and grandchildren. India’s GHG emissions tainable patterns of consumption and pro- best form of adaptation. are among the lowest in per-capita terms. duction. The determination of any particular stabi- Moreover, being only around 4% of the The process of burden sharing must be lization goal and the time-frame in which it world’s emissions, action by us will have a fair. It should take into account where the should be achieved needs to be made at the marginal effect on overall emissions. primary responsibility for the present levels United Nations Framework Convention on Nonetheless we recognize wholeheartedly of GHG concentration rests and not perpet- Climate Change. our responsibilities as a developing country. uate poverty among the developing coun- This should be preceded by a scientific We wish to engage constructively and pro- tries. No strategy should foreclose for them consensus on impacts at different levels of ductively with the international community the possibilities of accelerated social and GHG going beyond the current IPCC find- and to add our weight to global efforts to economic development. ings, which still document many uncertain- preserve and protect the environment. The principle of common but differentiat- ties. We are determined that India’s per capita ed responsibility and respective capability is It is important that critical and promising GHG emissions are not going to exceed very important. clean technologies are made affordable for those of developed countries even while The time is not ripe for developing coun- developing countries, where there is large pursuing policies of development and eco- tries to take quantitative targets as these reliance on fossil fuels. nomic growth. would be counter-productive on their devel- Continued on page3 2 I N D I A R E V I E W J U L Y 2 0 0 7 h t t p : / / m e a k a b u l . n i c . i n G-8 SUMMIT Joint Statement by the G-8, G-5 countries in Germany oday’s purposeful discussions In this exchange we also need to consider structively participate in the negotiations between the G8 and Brazil, China, the protection of IPRs in conjunction with on a comprehensive agreement at the T India, Mexico and South Africa mark common good of human kind for the pur- UNFCCC Conference in Indonesia in an important step towards an equal and poses of protecting the environment and December 2007. enduring partnership for building the frame- supporting public health. work conditions of a globalized and compet- In this regard, we recall the Doha Energy itive world economy. Declaration on the TRIPs Agreement and We recognize the need for closer, more In a globalizing world, we have to look public health. practical and result-oriented regional and beyond national and regional boundaries and We affirm our commitment for further international cooperation in the energy sec- work together. cooperation in capacity building, human tor, especially in ensuring secure and afford- Towards this endeavour, we commit to resource development and public awareness able supplies of energy as well as in improv- cooperate in the following fields: programmes in the field of intellectual prop- ing energy efficiency and the access to — Promoting Cross Border Investment to erty.
Load more

Recommended publications
  • G7 to G8 to G20: Evolution in Global Governance CIGI G20 Papers | No
    G7 TO G8 TO G20: EVOLUTION IN GLOBAL GOVERNANCE CIGI G20 PAPERS | NO. 6, MAY 2011 Gordon S. Smith G7 TO G8 TO G20: EVOLUTION IN GLOBAL GOVERNANCE TABLE OF CONTENTS SUMMARY Summary 3 This paper provides a brief history of the evolution of Acronyms 3 the Group of Seven (G7) from its origins in the aftermath of the 1971 breakdown of the Bretton Woods system of G7 to G8 to G20: Evolution in Global Governance 4 exchange rates and the oil crisis in 1973. It then discusses Russia’s participation at summits after the fall of the Works Cited 8 Berlin Wall, formally joining the group in 1997, thus becoming the Group of Eight (G8). The paper gives a CIGI G20 Resources 9 concise account of the formation of the Group of Twenty About CIGI 10 (G20) finance ministers and central bank governors in the late 1990s, in the wake of financial crises in Asia and Latin America, which was elevated to a leaders’ summit forum at the outbreak of the global financial crisis in 2008. The paper wraps up with a discussion of the differences in the G8 and G20 models, concluding that the G20 process is still the best option for meeting the challenges of complex global governance issues. ACRONYMS 3G Global Governance Group ASEAN Association of Southeast Asian Nations AU African Union BMENA Afghanistan, the Broader Middle East and North Africa CFGS Centre for Global Studies G5 Group of Five G7 Group of Seven G8 Group of Eight G20 Group of Twenty IMF International Monetary Fund Copyright © 2011 The Centre for International Governance Innovation.
    [Show full text]
  • Explaining BRICS Outreach: Motivations and Institutionalization
    INTERNATIONAL ORGANISATIONS RESEARCH JOURNAL. Vol. 15. No 2 (2020) Explaining BRICS Outreach: Motivations and Institutionalization H. Zhao, D. Lesage Huanyu Zhao – PhD, Researcher, Ghent Institute for International Studies (GIIS), Ghent University – Department of Political Science; 8 Universiteitstraat, B­9000 Gent, Belgium; E­mail: [email protected] Dries Lesage – Associate Professor, Ghent Institute for International Studies (GIIS), Ghent University – Department of Political Science; 8 Universiteitstraat, B­9000 Gent, Belgium; E­mail: [email protected] Abstract This article examines and explains the outreach activity of the BRICS group of Brazil, Russia, India, China and South Africa. We focus on two research puzzles: a) the motivations and b) the form and degree of the institutionalization of BRICS outreach. We define outreach as collaborative interaction among BRICS and other actors within and outside the BRICS area and focus on outreach to governments of non-BRICS countries and national top officials representing regional organizations. First, we offer a theoretical framework based on the experiences of the Group of 7/8 (G7/8) and the Group of 20 (G20), considering both commonalities and differences with BRICS. Second, we provide a detailed empirical analysis of BRICS outreach over time. Third, we explain BRICS outreach in light of the theoretical framework and enrich it based on our findings. Methodologically, we draw empirical information from official documents, news media and academic literature. We argue that the outreach activity of a major power grouping is reflective of its internal cohesion, as well as of how it defines its own position in the world and how it is perceived by others.
    [Show full text]
  • EUI Working Papers
    ROBERT SCHUMAN CENTRE FOR ADVANCED STUDIES EUI Working Papers RSCAS 2010/06 ROBERT SCHUMAN CENTRE FOR ADVANCED STUDIES A GROUP’S ARCHITECTURE IN FLUX: THE G8 AND THE HEILIGENDAMM PROCESS Katharina Gnath EUROPEAN UNIVERSITY INSTITUTE, FLORENCE ROBERT SCHUMAN CENTRE FOR ADVANCED STUDIES A Group’s Architecture in Flux: The G8 and the Heiligendamm Process KATHARINA GNATH EUI Working Paper RSCAS 2010/06 This text may be downloaded only for personal research purposes. Additional reproduction for other purposes, whether in hard copies or electronically, requires the consent of the author(s), editor(s). If cited or quoted, reference should be made to the full name of the author(s), editor(s), the title, the working paper, or other series, the year and the publisher. ISSN 1028-3625 © 2010 Katharina Gnath Printed in Italy, January 2010 European University Institute Badia Fiesolana I – 50014 San Domenico di Fiesole (FI) Italy www.eui.eu/RSCAS/Publications/ www.eui.eu cadmus.eui.eu Robert Schuman Centre for Advanced Studies The Robert Schuman Centre for Advanced Studies (RSCAS), directed by Stefano Bartolini since September 2006, is home to a large post-doctoral programme. Created in 1992, it aims to develop inter-disciplinary and comparative research and to promote work on the major issues facing the process of integration and European society. The Centre hosts major research programmes and projects, and a range of working groups and ad hoc initiatives. The research agenda is organised around a set of core themes and is continuously evolving, reflecting the changing agenda of European integration and the expanding membership of the European Union.
    [Show full text]
  • Brazil's Role in Institutions of Global Economic
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Repository@Hull - CRIS BRAZIL’S ROLE IN INSTITUTIONS OF GLOBAL ECONOMIC GOVERNANCE: THE WTO AND G20 Mahrukh Doctor Abstract: The article evaluates the extent to which Brazil’s foreign policy actions, negotiating positions and diplomatic strategies in global governance institutions contribute to supporting its national interest and foreign policy aims. It compares Brazil’s preferences and behaviour in the World Trade Organisation (WTO) and Group of 20 (G20). For decades, Brazil’s primary national interest has been national economic development. The article argues that Brazil is moving from a material interests based definition of its prime national interest to a more complex one that includes both material and prestige/status based aspects. Research demonstrates that Brazil has become increasingly focused on gaining recognition as a leader of developing countries, sometimes even at the cost of realizing its full material interests. It considers the value of constructivist international relations theory to understanding Brazilian foreign policy. Key Words: Brazil, WTO, G20, emerging power, global governance The past decade has seen a major shift in global economic dynamism and power distribution. Ideological as well as pragmatic factors colour established and emerging powers’ attitudes towards the emerging world order. Moreover, the growing political, economic, and ideological diversity present in the international system has dissipated the like-mindedness that guided post-war collaboration on issues of global governance. The impacts of the global financial crisis, Euro-zone troubles, and turbulence in emerging markets required both established and emerging powers to re-think their behaviour in arenas of global economic governance.
    [Show full text]
  • Global Development How Can the New Summit Architecture Promote Pro-Poor Growth and Sustainability?
    G20 and Global Development How can the new summit architecture promote pro-poor growth and sustainability? Thomas Fues / Peter Wolff (Editors) G20 and Global Development How can the new summit architecture promote pro-poor growth and sustainability? Thomas Fues / Peter Wolff (eds.) Bonn 2010 German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE) The German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE) is a multidisciplinary research, consultancy and training institute for Germany’s bilateral and for multilateral development co-ope- ration. On the basis of independent research, it acts as consultant to public institutions in Germany and abroad on current issues of co-operation between developed and developing countries. Through its 9-months training course, the German Development Institute prepares German and European University graduates for a career in the field of development policy. Thomas Fues is head of the Training Department at the German Development Institute in Bonn. His main research interests are global governance, rising powers, United Nations and international development cooperation. E-mail: [email protected] Peter Wolff is head of the Department “World economy and development financing” at the German Development Institute in Bonn. His recent work focuses on the consequences of the global financial and economic crisis for the developing world and for global economic governance. E-mail: [email protected] © Deutsches Institut für Entwicklungspolitik gGmbH Tulpenfeld
    [Show full text]
  • The Foreign Policy and Diplomatic Activities of the Russian Federation in 2009
    THE FOREIGN POLICY AND DIPLOMATIC ACTIVITIES OF THE RUSSIAN FEDERATION IN 2009 REVIEW MINISTRY OF FOREIGN AFFAIRS, RUSSIA Moscow, March 2010 2 CONTENTS PREFACE - 3 MULTILATERAL DIPLOMACY - 7 Russia’s Participation in UN Activities - 7 Russia’s Participation in the G8, G20 and BRIC - 13 International Cooperation in Combating New Challenges and Threats - 18 Disarmament, Arms Control and Nonproliferation - 29 Conflict Resolution and Crisis Response - 38 Inter-Civilization Dialogue - 45 GEOGRAPHICAL DIRECTIONS OF FOREIGN POLICY - 47 CIS Space - 47 Europe - 60 USA and Canada - 83 Asia-Pacific Region - 90 Middle East and North Africa - 105 Africa - 107 Latin America and Caribbean - 111 ECONOMIC DIPLOMACY - 115 LEGAL SUPPORT FOR FOREIGN POLICY ACTIVITIES - 120 HUMANITARIAN FOREIGN-POLICY ORIENTATION - 128 Human Rights Issues - 128 Protecting the Interests of Overseas Compatriots - 133 Consular Work - 136 Cooperation in Culture and Science - 139 ENGAGEMENT WITH THE FEDERAL ASSEMBLY, POLITICAL PARTIES AND CIVIL SOCIETY INSTITUTIONS - 144 INTERREGIONAL AND CROSS-BORDER COOPERATION - 149 INFORMATION SUPPORT FOR FOREIGN POLICY - 153 HISTORICAL/ARCHIVAL ACTIVITIES - 155 PROVIDING SECURITY FOR OVERSEAS AGENCIES - 159 3 PREFACE International events in 2009, including the global financial/economic crisis, facilitated the emergence of a positive, unifying agenda for the world community. An ever larger number of states concluded that there is a need for collective action to tackle common tasks in economics, finance and the climate change struggle, and
    [Show full text]
  • Japan's Response to the Changing Global Order: the Case of A
    International Relations of the Asia-Pacific Volume 12 (2012) 229–257 doi:10.1093/irap/lcr023 Advance Access published on 23 December 2011 Japan’s response to the changing global order: the case of a ‘Gaggle of Gs’ Downloaded from Hugo Dobson* National Institute of Japanese Studies and School of East Asian Studies, University of Sheffield, 6-8 Shearwood Road, http://irap.oxfordjournals.org/ Sheffield S10 2TD, UK *E-mail: h.dobson@sheffield.ac.uk Received 9 October 2011; Accepted 13 November 2011 Abstract by Robert Sedgwick on May 23, 2012 Over recent years, media, academic, and policy-makers’ attention has focused on changes in the global order from a unipolar to a multipolar world. The emergence of the Group of 20 (G20) since 2008 as the ‘premier forum for international economic cooperation’, which includes a number of developed and developing countries, and its ‘eclipse’ of the Group of 8 (G8) summit are acknowledged as some of the most salient symptoms of this shift. This article takes the intensive period of ‘G’ summitry between 2008 and 2011 as a pertinent case study to begin to explore the concrete responses of key protagonists to this reconfiguration of the architecture of global governance specifically and thereby the recent shift in the global order more broadly. In the specific case of Japan, widely assumed to be a declining power, the article high- lights both consistency and change in the responses of and strategies employed by Japanese policy-makers within ‘G’ summitry. Various theoretical positions can account for this to differing degrees which International Relations of the Asia-Pacific Vol.
    [Show full text]
  • Vorlage Für Reden Und Grußworte Der Leitung
    Only the spoken text is valid. Speech by Kajo Wasserhövel Secretary of State, Federal Ministry of Labour and Social Affairs Promoting CSR in a globalised economy on the occasion of the ILO-OECD Conference on Corporate Social Responsibility 23 June 2008, Paris Introduction Mr. Gurria, honoured colleagues, dear guests, It was not without curiosity that I accepted the invitation to this joint ILO/OECD conference, which has in the end turned out to be a genuine C, S and R event. It is essential that we are absolutely clear about addressing the social aspect of corporate responsibility in our discussions today. However much conceptual fuzz still surrounds the issue of CSR, one thing is clear: social responsibility is where things now stand in international discussions. The S-word is also firmly rooted in worldwide standardisation work on ISO 26000, the social responsibility standard. And that is how things must and will remain, in standardisation, in national policy and in international reference documents. That is why I was pleased to see the special emphasis given to cooperation in the field of social responsibility in the MoU between ISO and OECD concluded in May. Dresden, Heiligendamm and Niigata One major reason for the positive perception of Germany's presidency of the G8 is that, despite initial reluctance on the part of some G8 members, we succeeded in introducing the issue of CSR into the dialogue between the leading industrial nations, first at the labour ministers' meeting in Dresden, then at the Heiligendamm summit. At Heiligendamm, the leaders of the G8 countries called on their corporations – and wider constituencies beyond – to assume a greater degree of social responsibility.
    [Show full text]
  • Beyond Heiligendamm: the G-8 and Its Dialogue with Emerging Countries Gnath, Katharina
    www.ssoar.info Beyond Heiligendamm: the G-8 and its dialogue with emerging countries Gnath, Katharina Veröffentlichungsversion / Published Version Zeitschriftenartikel / journal article Zur Verfügung gestellt in Kooperation mit / provided in cooperation with: SSG Sozialwissenschaften, USB Köln Empfohlene Zitierung / Suggested Citation: Gnath, K. (2007). Beyond Heiligendamm: the G-8 and its dialogue with emerging countries. Internationale Politik - Global Edition, 8(Fall), 36-39. https://nbn-resolving.org/urn:nbn:de:0168-ssoar-130936 Nutzungsbedingungen: Terms of use: Dieser Text wird unter einer Deposit-Lizenz (Keine This document is made available under Deposit Licence (No Weiterverbreitung - keine Bearbeitung) zur Verfügung gestellt. Redistribution - no modifications). We grant a non-exclusive, non- Gewährt wird ein nicht exklusives, nicht übertragbares, transferable, individual and limited right to using this document. persönliches und beschränktes Recht auf Nutzung dieses This document is solely intended for your personal, non- Dokuments. Dieses Dokument ist ausschließlich für commercial use. All of the copies of this documents must retain den persönlichen, nicht-kommerziellen Gebrauch bestimmt. all copyright information and other information regarding legal Auf sämtlichen Kopien dieses Dokuments müssen alle protection. You are not allowed to alter this document in any Urheberrechtshinweise und sonstigen Hinweise auf gesetzlichen way, to copy it for public or commercial purposes, to exhibit the Schutz beibehalten werden. Sie dürfen dieses Dokument document in public, to perform, distribute or otherwise use the nicht in irgendeiner Weise abändern, noch dürfen Sie document in public. dieses Dokument für öffentliche oder kommerzielle Zwecke By using this particular document, you accept the above-stated vervielfältigen, öffentlich ausstellen, aufführen, vertreiben oder conditions of use.
    [Show full text]
  • 1 the United States and Summit Reform in a Transformational Era
    The United States and Summit Reform in a Transformational Era Colin Bradford is a Nonresident Senior Fellow at the Brookings Institution in Washington and at the Centre for International Governance Innovation (CIGI) in Waterloo, Canada, and is director of the Brookings-CIGI global governance reform project at Brookings. He is co-editor with Johannes Linn of Global Governance Reform: Breaking the Stalemate, published by the Brookings Institution Press in 2007. Introduction: The United States is at a critical turning point. The 2008 presidential contest and election represents a potential watershed in American politics and foreign policy. This chapter begins by exploring some of the elements both defining the watershed and potential principles and practices for managing the transition to a new era in global politics. Summit reform is examined within the context of this transition to see what place it has for the United States in the mix of broader approaches to a new era and what potential it has for the U.S. as an instrument for transition. To better grasp the importance of summit reform in prospective U.S. approaches to reshaping its role in the world, a questionnaire was undertaken specifically for this book to determine what U.S. experts and officials think about summit reform in comparison to their counterparts from 15 other major countries. The results of this survey provide insights into the outlook for the Heiligendamm process of outreach to non-G8 countries and into the degree of convergence of views within the international community on summit reform. The survey also reveals the specific points of divergence between the views of leading Americans and their peers from other G8 countries as well as those from emerging market countries that are potential new members of an expanded summit grouping.
    [Show full text]
  • Growth and Responsibility in the World Economy
    GROWTH AND RESPONSIBILITY IN THE WORLD ECONOMY Summit Declaration (7 June 2007) G8 AGENDA FOR GLOBAL GROWTH AND STABILITY 1. We have agreed on a policy agenda to promote a smooth adjustment of global im- balances which should take place in the context of sustained robust global economic growth. We have taken stock of the progress made to date and discussed further chal- lenges lying ahead. Our agenda builds on discussions at the IMF and other international fora. Open markets and competition are crucial elements, as are our efforts to promote freedom of investment and the dynamics of innovation described hereafter. 2. We note that the world economy is in good condition and economic developments are now more conducive to an adjustment than in the past, not least because we have made progress in implementing our joint strategy. However, further efforts will be re- quired to better rebalance global demand. Global imbalances took a long time to build. Likewise, their unwinding is likely to be a gradual process, entailing a medium-term re- balancing of demand growth across countries. 3. The economic environment has developed in a direction which favours the adjust- ment of global imbalances. Growth is now more balanced across regions, as it has moderated to a more sustainable pace in the US, while domestic demand has strength- ened in Europe and remains supported by robust investment in Japan. We have made progress in implementing our joint policy strategy: The United States has lent support to national savings by quickly and substan- tially reducing the federal budget deficit.
    [Show full text]
  • Concluding Report of the Heiligendamm Process –
    Concluding Report of the Heiligendamm Process 1. At the German Summit in Heiligendamm 2007, the Heads of State and Government of the G8 and the G5 started a new partnership – the Heiligendamm Dialogue Process (HDP) – in order to discuss crucial challenges of the world economy, in particular in the following four fields: Development, with a special focus on Africa; Promoting cross-border investment to mutual benefit; Promoting research and innovation, including intellectual property rights (IPRs); Energy, with special focus on energy efficiency. It was agreed that a substantive concluding report on the progress of the Dialogue would be presented to Leaders at the 2009 Summit in Italy. 2. The HDP has been steered by the Personal Representatives of the Leaders - the Sherpas - and carried forward by the respective working groups in an open, transparent and constructive manner. As a non- negotiating process on an equal footing, the HDP has complemented work in other multilateral and regional institutions and fora and has contributed to advance the search for mutually benefitial solutions to common challenges. The OECD and the IEA have supported the HDP through their analyses and expertise and this is appreciated. 3. Partners have committed to share responsibility and to take a lead in tackling global challenges of the world economy, recognising that the ability to take action is linked to the economic, social and political situation in our countries. Dialogue partners have built mutual confidence and understanding as a basis for tangible results in the following areas. I. DEVELOPMENT 4. The Dialogue Partners have pursued a constructive dialogue on development, convinced of their shared responsibility for poverty eradication globally.
    [Show full text]