G20 Leaders’ Summit Inaugurated
Los Cabos, Baja California Sur, June 18, 2012
President Calderón inaugurated the activities of the VII G20 Leaders’ Summit.
In his address, he explained that the world is facing various challenges, particularly in the economic and environmental spheres, hence the importance of the G20 Leaders’ Summit, which will seek to discuss and adopt agreements to address the economic situation and to define an agenda for the world’s future. G20 members represent two thirds of the world’s population, conduct over 80 per cent of trade and, together with the European Union, account for over 90 per cent of the world GDP.
The president declared that during this Summit, efforts will focus on the definition of an integral action plan with a long-term vision that will promote sustainable human development in member countries as well as a verifiable agenda and follow-up mechanisms. He added that the Leaders’ Summit, which brings together 24 heads of state and government and eight leaders of international organizations, provides the possibility of discussing means of achieving a more integrated, stronger European Union that will transcend the current situation and have monetary, banking, fiscal and government mechanisms to prevent further crises. He stressed that the key is to adopt specific, coordinated actions to reinforce global action, job creation and free trade in a framework that will follow up the commitments adopted.
The president subsequently declared that part of the solution to the current crisis lies in reinforcing international financial institutions in order for them to efficiently implement solutions to the current crisis and prevent future crises. He declared that with the will of the Group members, the aim is to:
President Calderón highlighted the importance of finding policies to offset the adverse effects of climate change and the price volatility of food and raw materials, in order to prevent them from impacting on low-income sectors of the population. The president concluded by urging the attendees to cooperate, coordinate and confirm their commitment to working for the future.
The day’s activities concluded with a dinner for the leaders hosted by the president.