Seoul G20 Summit Closes &Nbsp; &Nbsp; Korean President Lee Myung-Bak Issued The Seoul Declaration.

In November 12th, South Korean President Lee Myung-bak issued the Seoul declaration.

Two days, according to Yonhap news agency.

The following is a summary of the Seoul declaration:

Currency and exchange rate: the principle of exchange rate cooperation between developed and emerging market countries is re verified.

Trade and development: exclude trade protectionism and remove obstacles that impede the growth of developing countries.

Finance: developed countries will set up a sound financial plan and pay attention to the economic risks that may occur simultaneously due to performance or failure.

Finance: the summit promised to thoroughly implement the banking capital supervision system and new international standards, and strive for reform.

Structural reform: countries will push forward structural reforms according to different national conditions to stimulate demand, create jobs, promote balanced global development and increase potential growth.

Balanced development: Discussions on the indicative guidelines on current account issues have made progress at the summit, and the participants agreed to implement the first mutual policy review as of next year.

IMF reform: welcomes the reform and governance structure reform of the IMF.

It welcomes the pfer of over 6% of the less representative countries including emerging countries, as well as the improvement of the IMF loan system and the results achieved so far.

Financial regulation: the leaders of the meeting adopted the international standards and principles of Basel banking supervision (Basel III) and related capital flows and global large financial institutions (SIFI).

Trade: G20 member states are willing to complete the Doha Development Agenda (DDA) negotiations as soon as possible, and reached consensus on not setting up new barriers to trade and investment and opposing any form of trade protectionism before 2013.

Development: the participants agreed that in order to solve the problem of poverty eradication in developing countries and narrow the development gap, we should promote development issues and reach the Seoul development consensus.