Chancellor Angela satisfied with the outcome of the G20 summit

Bundeskanzlerin Angela Merkel bei der Abschlusskonferenz im Rahmen des G20-Gipfels.

The host German Chancellor Angela Merkel declared herself satisfied with the outcome of the G-20 summit. In the field of trade, she reported at the close of the summit in Hamburg, agreement was reached that markets must be kept open. The major  industrialized states and emerging economies also agreed to fight protectionism and unfair trade restrictions. At the start of her final press conference Chancellor Angela Merkel explained what her job had been during the summit. She had clearly voiced German and European interests and, in her capacity as host, had pressed all sides to  embrace compromise. “That was the spirit in which we worked here. And that is reflected in the Leaders’ Declaration.” In this context Angela Merkel again pointed to the motto of Germany’s G20 Presidency “Shaping an interconnected world”. During the global economic and financial crisis some ten years ago, the . demonstrated its strength, when it played a crucially important part III stabilizing national economies and financial markets. What was true back then is still true today: we can achieve more if we act together than we could alone,” reaffirmed the Chancellor. “Markets must be kept open,” she continued. Angela Merkel reported that there had been extremely intensive discussions on trade, but summit participants agreed to fight protectionism and unfair trade practices, The rules based international trading system, as embodied by the World Trade Organization (WTO),plays a vital role in this. Bilateral agreements too must always be WTO-compliant, warned the Chancellor.

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