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G20 leaders agree to fight protectionism, begin plenary session

(Xinhua)
Updated: 2009-04-02 20:32

LONDON -- Leaders from the Group of 20 (G-20) have agreed to fight protectionism on their plenary session after a working breakfast here on Thursday to search for a global solution to the economic and financial crisis.

The heads of delegation gather for the Plenary Session at the G20 summit at the ExCel centre, in east London April 2, 2009.  [Agencies]

In a brief opening statement, British Prime Minister Gordon Brown outlined a working plan for the discussion, calling on leaders to finalize the joint communique which covers banking regulations.

Brown said the world leaders attending summit are anxious to reach agreements on major points, including a joint call to resist protectionism, and to strengthen financial regulation.

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On Wednesday, Brown said he was confident that the summit will produce consensus on a global plan for economic recovery and reform. "We are within a few hours, I think, of agreeing a global plan for economic recovery and reform and I think the significance of this is that we are looking at every aspect."

The leaders are expected to have a busy day of intensive talks, which started with Brown hosting a working breakfast, followed by two plenary sessions. A joint communique will be issued at the end of the summit.

The summit started by a breakfast scheduled at 8:30 am local time after the leaders were greeted by British Prime Brown at the entrance of London's exhibition center, or ExCel London, in eastern London. The breakfast provided an opportunity for the leaders to exchange views in an informal way before their formal talks later in the day.

Security is tight around the venue. Police can be seen at every crossroads within about five kilometers. Journalists have to pass through two security checkpoints to get to the press censer, where about 2200 registered journalists work and many of them stayed for the night.

Outside the Excel, anti-capitalist protesters started their second day of protests. On Wednesday, at least 87 were arrested and one protester died, London's police said.

Brown, the host, who made a global trip and met the leaders to prepare for the summit, said he was confident that the summit will produce consensus on a global plan for economic recovery and reform.

European Commission President Jose Manuel Barroso expressed his belief Thursday that a consensus will be reached on the economic stimulus and regulation.

"There is a real willingness to have convergence at the end of this summit and so I really believe that at the end we'll have a consensus around the two points that sometimes appear as differences: the stimulus of the economy and regulation," he told reporters.

South African President Kgalema Motlanthe urged extra help for developing economies at the summit.

"We are here to put across the position of the developing world, particularly with regards to the need to protect jobs because it's the impact on the real economy which affects ordinary working people ... if we're to find an everlasting solution we must develop a response that is inclusive of working people," he told BBC.

Expectations are high that the leaders of the world's largest economies would be committed to a coordinated response to the economic crisis, an overhaul of the global financial architecture and restraint from protectionism.

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