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G20 countries agree to cooperate in reducing trade imbalances

11-12-2010 16:23 BJT Special Report:5th G20 Summit in Seoul |

SEOUL, Nov. 12 (Xinhua) -- The G20 countries said they would enhance multilateral cooperation to promote external sustainility and pursue policies conducive to reducing trade imbalances and maintaining trade imbalances at sustainable level, said the joint communique issued Friday afternoon at the end of the Seoul Summit.

The G20 countries agreed to develop indicative guidelines composed of a range of indicators, which would serve as a mechanism to facilitate identification of large imbalances that required preventive and corrective actions, it said.

The communique said the Framework Working Group, under the G20 leadership, would be responsible for developing these indicative guidelines, with progress to be discussed by G20 finance ministers and central bank governors in the first half of 2011.

Editor:Jin Lin |Source: Xinhua

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