British PM urges G20 countries to keep trade open, stop protectionism

21:53, November 11, 2010      

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Britain's Prime Minister David Cameron addresses the closing ceremony of G20 Business Summit in Seoul, capital of South Korea, on Nov. 11, 2010. The G20 Business Summit ended here on Thursday. (Xinhua Photo)
British Prime Minister David Cameron on Thursday called on the G20 countries to keep the world trade open and shun protectionism.

"It's in our interest to keep world trade moving, to keep those trade barriers down. That's our interest at the G20 and we will pursue it very very vigorously," Cameron told some 120 corporate leaders from around the world at the closing plenary session of the Seoul Business Summit.

The 2-day business summit had brought together the heads of some 120 of the world's leading companies from 34 developed and developing countries, with combined total sales of over 4 trillion U.S. dollars annually.

"The fear we should all have is a return to what happened in the 1930s -- protectionism, trade barriers, currency wars, countries pursuing beggar-my-neighbor policies -- trying to do well for themselves but not caring about the rest of the world," he said.

"Stopping protectionism in its tracks and making sure we keep trade open," said the British Prime Minister, who concluded his two-day official visit to China on Wednesday evening and flew to Seoul for the two-day G20 Summit.

The G20 Summit should be able to address issues, such as stability, trade, and imbalances, all of which are regarded critical to the success of the event, he said.

Cameron also welcomed the first meeting between corporate executives and G20 state leaders.

"All of the work we do is nothing unless it encourages businesses to grow and employ people. We want global growth, but you are the people who will deliver," he said.

Source: Xinhua

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