Manmohan Singh reaches Seoul for G20 Summit (Second Lead)

By Arvind Padmanabhan, IANS
Wednesday, November 10, 2010

SEOUL - Prime Minister Manmohan Singh arrived here Wednesday on a three-day visit to attend the G20 Summit, the top forum on the global financial system that seeks to address the current economic crisis and the way forward.

The Indian delegation includes Planning Commission Deputy Chairman Montek Singh Ahluwalia, who will be the sherpa, or the key pointsperson at the summit, Foreign Secretary Nirupama Rao and Finance Secretary Ashok Chawla.

The prime minister will meet his host, South Korean President Lee Myung-bak, as well as other leaders in bilateral engagements.

During the visit, the prime minister is not only expected to articulate India’s stand on how to achieve global financial stability - the basic foundation of the grouping of the top rich and emerging economies - but also meet a host of leaders on the margins.

The G20, originally formed at the level of finance ministers and central bank governors in 1999 after the East Asian economic crisis, assumed significance after it was elevated to a summit-level forum in 2008 after the ongoing global financial crisis.

Besides India, South Korea, Brazil, the US and Canada, the G20 comprises Argentina, Australia, China, France, Germany, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Turkey, Britain as well as the European Union.

Filed under: Economy

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