French President proposes G20 secretariat
The secretariat will oversee implementation of important decisions by G20.
Paris: French President Nicolas Sarkozy on Wednesday proposed the formation of a Group of 20 secretariat to oversee the implementation of important decisions by the bloc of major world economies.
In a speech to French ambassadors, Sarkozy also proposed the body take on more issues related to development and climate change. The G20, which includes leading industrial and developing countries, currently focuses only on economic issues.
Ahead of France`s assumption of the G20 presidency in November, he said top themes will include the reform of the international monetary system, a solution to disputes over China`s currency and extreme fluctuations in food prices.
The next G20 meeting is scheduled for November 11-12 in Seoul. At the end of the meeting, France will assume the bloc`s leadership for a year.