Canada Ready To Cooperate With RI in G-20

11/10/2010

 

Jakarta - Visiting Canadian Finance Minister Jemes M. Flaherty said his country was ready to cooperate with Indonesia in encouraging the creation of global financial stability and prosperity during the G-20 Summit scheduled for Nov 11-12 in Seoul.

"We will continue our efforts to get the cooperation framework agreed upon at the G-20 meeting in Toronto implemented by G20 members including Indonesia," he said here on Monday.

He said Canada had recovered from the global financial crisis as indicated by a decline in unemployment rate within a period of two years after the crisis began to engulf most parts of the world in late 2008.

"We are ready to share our strategy to address the crisis and how Canada has struggled to achieve the G-20 target by making substantive and effective economic planning," he said.

The global crisis raised unemployment rate to up to 10 percent. But by applying an economic action plan which cost US$62 billion for two years to create 430,000 jobs, Canada`s gross domestic product increased by up to 1.5 percent in 2009, he said.

He said Canada also expected each G-20 member to comply with the agreement reached in Toronto in June 2010 to halve deficit rate by 2013 and cut government debt-to-gross domestic product ratio by 2016.

While in Indonesia, Flaherty also met with Chairman of the Investment Coordinating Board (BKPM) Gita Wirjawan on Monday to discuss Canadian investment particularly in the mining, public facility and eduction sectors. (Source: Antara101110)