S. Korea, Canada renewing ties to lead world out of 'fragile' recovery: Harper

By Tony Chang
SEOUL, Dec. 7 (Yonhap) -- Canadian Prime Minister Stephen Harper said Monday that
his country and South Korea, both set to host Group of 20 (G20) summit meetings
next year, are cooperating closely on a blueprint for a sustained global economic
recovery that currently still seems fragile.

"Economies are showing signs of stabilization, but this recovery is fragile. It
is a recovery that wrong choices could quickly stall, or even reverse. The
livelihoods of families all over the world hang in the balance," Harper said in a
speech at the South Korean National Assembly in Seoul.
The prime minister arrived in Seoul on Sunday for a two-day visit and was
scheduled to hold a summit with President Lee Myung-bak later in the day. The
leaders are expected to discuss on a wide range of bilateral issues, including
trade, energy and both countries' hostings of G20 summits in 2010.
The summit of the world's 20 advanced and developing economies was launched late
last year in the face of an unfolding global financial crisis. It was named the
"premier forum" for international economic cooperation at its third meeting held
in Pittsburgh in September.
Leaders of the G20 countries agreed at their September summit in Pittsburgh to
meet again next year in Canada in June and in South Korea in November.
The South Korean summit will be the fifth after the first in Washington in
November 2008 and the second in London in April 2009.
Harper, the first Canadian prime minister to address South Korea's parliament,
noted that Ottawa and Seoul were "renewing the strong relations" while "planning
for the leadership role that Canada and Korea will play as the hosts of the G20
summits.
"For Canada and Korea, this is a unique opportunity, and a unique responsibility.
We must lead the way. We must build upon the work done in Washington, London and
Pittsburgh."
For the G20 as a whole, the prime minister also highlighted the importance of
forming "prudent regulation of the global financial sector" and "reform of
international financial institutions," but also noted that global trade must not
waver.
The group, Harper said, must also draw a "credible plan" as an exit strategy and
return the world economy "to a path of sustainable growth."
"I would observe that a failure to achieve this objective would have consequences
beyond the purely economic..," Harper said, adding that problems from a lack of
sustainable growth would eventually spill over to issues of environmental threats
as well as peace and security issues.
odissy@yna.co.kr
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