The Presidential Committee for the G20 Seoul Summit

The Presidential Committee for the G20 Seoul Summit

Press Release

Distribution date: Friday, November 12, 2010

G20 Plenary Session III: Development
Working toward a Seoul Consensus 

In the third session, President Lee highlighted development issues and the Multi-Year Action Plan for balanced growth

The third G20 Plenary Session, on Development, began at 11:30 a.m., November 12 and lasted an hour.  In the third session, the leaders focused on how to promote balanced growth globally while narrowing the development gap and reducing poverty. 

By putting development on the agenda, Korea hoped to focus attention on the world’s poorest populations, encourage growth that will add to sustainable global growth, share lessons learned from its own recent experiences with development and help broaden the G20 agenda beyond the recent financial crisis. By taking on the development issues of more than 170 non-G20 nations, the G20 also enhances its own credibility in the eyes of the rest of the world.  

Within the context of the Framework on Growth, development can help lay the groundwork for the G20 to reach its broader goals. By encouraging investment in emerging economies, the G20 can facilitate resilient growth domestically and globally.

In addition to the leaders of the G20 and invited countries, the heads of the following international organizations participated in the discussion: Ban Ki-moon, Secretary-General of the United Nations; Robert Zoellick, President of the World Bank, and the co-chairs of the G20 Development Working Group.