The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Wayne Swan

Wayne Swan

Deputy Prime Minister and Treasurer

3 December 2007 - 27 June 2013

10 November 2010


Treasurer to Attend G20 Leaders' Summit in Seoul

The Prime Minister and I will attend the G20 Leaders' Summit in Seoul, South Korea on Thursday and Friday.

This Summit comes at a time when the global recovery remains patchy and uneven.

Despite solid growth in Australia and among our emerging Asian trading partners, we are not immune from the downside risks to the global economy.International engagement remains as important now as it was at the height of the global crisis.

The focus of the G20 Leaders' Summit will be on putting in place a framework for strong, sustainable and balanced global growth.

The Prime Minister and I will work to ensure that G20 members focus on addressing global imbalances and delivering on structural reforms that lift global growth and not just shift it.

Much progress has been made on reforms to enhance the IMF's credibility and legitimacy and strengthen its capacity to support the international monetary and financial system.

We set these reforms as a key objective at the Pittsburgh Leaders meeting and we are now on the verge of delivering on this commitment – a process that Australia has helped lead from day one.

We will also continue to work with our G20 colleagues on reforms to strengthen global financial regulation and ensure that they are appropriate for Australia.

The Prime Minister and I will also attend the Seoul G20 Business Summit.

The 'B20' will bring together 120 of the world's leading business executives with G20 Leaders and Finance Ministers.I welcome the participation of the Australian representatives, including Heather Ridout, Sam Walsh, Don Voelte, Mike Smith, John Denton and Mark Burrows.

The global business community plays an invaluable role in delivering new growth and creating jobs, and I look forward to its active participation and ongoing dialogue in the years ahead.

10 November 2010