Monday, October 25, 2010

Message by OECD Secretary

The economic upheaval over the past two years is unprecedented in our lifetime, and yet it could have been 
even worse. Thanks to the G20 members’ massive macroeconomic support, coordinated response to the dec-
line in global activity and the swift actions to stabilize markets, a depression was averted and a recovery is 
now underway.
The crisis was a catalyst that accellerated the urgency at which the global 
governance architecture had to be updated and revamped. Within this space, 
the G20’s capacity to deliver has been outstanding, and it rightly established 
itself as the premier forum for international economic co-operation.
The G20 now needs to deliver on its commitments and prove its value 
not just in a time of crisis, but in the recovery phase and beyond. 
In particular, G20 countries need to face the twin challenges of 
implementing stimulus exit strategies and ensuring that a strong, 
jobs rich recovery takes hold and that growth can be restored and 
maintained over the longer term. If successful, that would be a major contribution of the G20 to the world economy.
The G20 process is thus at a critical moment. But I am convinced that under the leadership of the Korean Presidency the G20 and the Seoul Summit will be successful. The Korean Presidential Committee for the G20 Summit has brought together a formidable team, uniting the best talent in each policy field. Korea’s own development story and its rapid recovery from the mid-1990s Asian financial crisis are also remarkable, and serve to help and inspire us all.
No single country or group of countries will succeed on their own, however. We will only address the challenges we face successfully if we work together. The OECD has a responsibility to offer its expertise and knowledge in support of the G20 process. We are already doing this with substantive contributions on core issues such as tax evasion, open investment markets, employment, environment, fighting corruption and promoting development that will help countries build a stronger, cleaner and fairer world economy.
I wish Korea a very successful G20 Presidency and Summit. The OECD looks forward to continue supporting you in every way possible. 
Angel Gurría
OECD Secretary-General

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