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G8 leaders to address climate, global economic problems

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The G8 summit, which opens Monday on the Island of Hokkaido, Japan, will focus on climate change and the global economy, a Kremlin aide said on Thursday.
MOSCOW, July 3 (RIA Novosti) - The G8 summit, which opens Monday on the Island of Hokkaido, Japan, will focus on climate change and the global economy, a Kremlin aide said on Thursday.

Arkady Dvorkovich, who is also Russian Sherpa at the G8, said during the three-day summit the G8 leaders will discuss African development, climate change, global economy, including energy prices, the situation on the food market, and international security. Separate documents will be adopted on each specific issue.

"The summit should make it clear whether the world's leading economies are ready to enter the negotiating process on a new agreement to replace the Kyoto Protocol," a source in the Russian delegation said.

He said Russia would be ready to join the negotiations if all developed economies, as well as India and China, are involved.

He added that the G8 leaders believe the negotiations on the post-Kyoto process should be completed and a new agreement adopted in December 2009.

The summit's main document will concern the stability of the global economy, which has been affected by the credit crunch crisis in the United States, the weakening dollar, and the ongoing food crisis, Dvorkovich said.

"The document will emphasize measures to deal with economic threats looming in the energy and finance markets," he said.

The G8 leaders will also address protection of intellectual property rights as a key element to the development of an innovative economy, as well as the role of international financial institutions in economic regulation, investment activity, and crisis response measures, including those concerning the food crisis.

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