The G20 Summit was attended by the leaders from G20 countries, plus others from guest countries (Vietnam, Malawi, Ethiopia, Spain and the Netherlands) and international organisations the United Nations (UN) the International Monetary Fund (IMF), the World Bank (WB) the United Nations Development Programme (UNDP), the International Labour Organisation (ILO) and the World Trade Organisation (WTO).

Also present among the guests was, Surin Pitsuwan, Secretary General of ASEAN.

PM Dung took part in six sessions on the situation and prospects of the world economy, the framework for a strong, sustainable and balanced growth, reforming financial regulations and international financial institutions, anti-protectionism measures, promoting trade liberalisation and preparations for the next G20 summit scheduled to be held in Seoul, the Republic of Korea in November.

Leaders from the G20 and international organisations underlined their determination to promote cooperation to help the global economy rebound sustainably and deal with the challenges that still face many countries such as financial deficits, public debts and unemployment.

They adopted specific measures and policies aimed at cementing a framework for strong, sustainable and balanced growth, enhancing financial regulation reform to ensure the efficiency and transparency of the financial system to prevent future financial crises.

The leaders also underlined the need to combat protectionism which is growing in the wake of the global economic downturn with joint international efforts to facilitate trade and investment, including an early conclusion of the Doha round of trade talks.

They were also keen to deal with issues related to the development gap and reducing poverty to ensure a strong, sustainable and balanced growth.

The G20 countries agreed to set up a working party to draw up an agenda and various action programmes for approval at the G-20 Summit in Seoul later this year.

Vietnam has drawn up a report on ASEAN’s viewpoint on the main contents of the G20 summit, including the world economic situation and prospects, a framework for strong, sustainable and balance growth, anti-protectionism measures, stepping up trade and investment, development issues, and fostering international coordination and co-operation. The document has been sent to all the participating countries and international organisations.

As ASEAN president, Mr Dung delivered a number of important speeches which were highly praised by the international delegates.

At meeting on a framework for strong, sustainable and balanced growth, Mr Dung stressed on the necessity to step up a sustainable recovery in the global economy. He also emphasised on the need to strengthen international co-operation to ensure that new measures will be carried out effectively and not cause a negative impact on non-member countries, especially poor and developing ones.

PM Dung also proposed setting up a closer coordination mechanism between the G20 and ASEAN and use it as a trial model for other non-member countries to increase co-operation with the G20.

At the session on anti-protectionism, PM Dung stated that ASEAN encourages the G20 to stand fast on trade and investment anti-protectionism and called on it to introduce specific measures to remove trade and investment barriers to make it easier for the global economy to recover.

PM Dung said that ASEAN and the G20 will work with other blocs and free trade organisations, such as the EU, the North American Free Trade Agreement (NAFTA), and the African Union to draft a joint declaration to end the Doha negotiations within 12 months.

He said that Vietnam and ASEAN praised the G20’s initiatives and its recent efforts to reform international financial institutions to improve their transparency and efficiency. They also highly valued the G20’s increasing capital for regional development banks and allowing these organisations to assist developing countries with capital, experiences, and technical support to cope with uncertain macroeconomic issues in the region.

To raise the role of international financial institutions, PM Dung urged the IMF and WB and other regional financial institutions to increase their assistance to developing countries so they can fulfill their Millennium Development Goals.

On the sidelines of the summit, PM Dung held meetings with the UN Secretary General, WB President, WTO General Director and the heads of the delegations from the US, Japan, the Republic of Korea, India, Australia, Indonesia, the Netherlands, Spain, Italy, Arab Saudi, Ethiopia, and Malawi to discuss issues concerning bilateral relations and the contents of the G20 summit. He also met with the Vietnamese community in Canada, the Canada-Vietnam Parliamentary Friendship Group, the Canada-Vietnam Friendship Association, and several major Canadian businesses who want to invest in Vietnam.