Cameron made the remark in an interview with Yonhap News Agency, stressing that the G20 should be made an “effective post-economic crisis institution” as the world economy picks up.
This week’s meetings in Seoul, set for Thursday and Friday, will be the first step toward that goal, he said.
“It’s clear that a G20 meeting in Seoul is unique,” Cameron said, referring to the fact that South Korea is the first Asian nation as well as the first non-member of the G8 forum of industrialized nations to host a G20 summit.
“This should send a message that all of the G20 whether advanced or emerging economies are committed to using the G20 as the ‘premier forum’ for our global economic cooperation,” he said in the written interview.
Cameron praised the G20 for its role in tackling the global economic crisis, and said it’s time to move forward.
“We G20 leaders together need to take the next step. The G20 is in transition as the global economy shifts from crisis to recovery,” he said. “So it needs to establish itself as an effective post-economic crisis institution in the years to come.
The Seoul summit will be the first step toward this.”
It will be the fifth meeting of the G20 leaders since they first met in late 2008 to discuss joint responses to the crisis that was rocking the world economy at the time. The G20, which includes industrialized and emerging economies, accounts for about 85 percent of the global economy.
How to address trade and current account imbalances between advanced and developing nations will be among the top agenda items at the summit amid a currency dispute between the United States and China. Washington has accused Beijing of keeping the value of its currency, the yuan, too low to make its products cheaper abroad and worsening trade imbalances as a result.
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