G-8 members talked frankly about global economic uncertainty.
Thanks to strong fundamentals Canada’s economy is performing exceptionally well by international standards.However, we are part of a global recovery that remains very fragile.
In anticipation of broader economic discussions at the G-20 next month.
I encourage G-8 colleagues to recognize that fiscal consolidation and economic growth go hand and hand.
For instance, Canada’s Economic Action Plan 2012 makes important labour market, innovation policy, and regulatory reforms and focuses on opening new markets while also making reasonable reductions in government spending to eliminate the deficit in the medium term.
I met France’s new President, François Hollande, for the first time.
We reflected on a relationship that is one of Canada’s most important.
We also discussed the enormous potential of a Canada-EU trade agreement to create jobs in both of our countries.
Today’s Camp David G-8 Accountability Report on foreign aid follows the path in Muskoka that we established.
Building on that, I was pleased yesterday to announce a substantial new investment in transformative programs to fight hunger in Africa.
This summit also reaffirmed our Deauville commitment to support North African and Middle Eastern countries in transition.
I also reiterated Canada’s position that world leaders must continue to address the human rights situation in Syria, and I underscored our continuing grave concerns about nuclear proliferation in Iran and North Korea.