Topic: G-8 Leaders Agree on $50B in African Aid
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AFX News Limited
G8 SUMMIT At a glance guide to main points
07.07.2005, 03:45 PM
GLENEAGLES, Scotland (AFX) - An at a glance guide to the main points of the first full working day of the G8 summit here.
LONDON BOMB BLASTS
-G8 leaders condemned today's terrorist attacks in London, stating that the perpetrators would not be allowed to impose their 'extremism' and 'fanaticism' on 'civilised societies'.
-A joint statement delivered by UK prime minister Tony Blair was also underwritten by non-G8 members China, Mexico, India, South Africa, Brazil, the UN and European Commission.
-'Here at this summit, the world's leaders are striving to combat world poverty and save and improve human life. The perpetrators of today's attacks are intent on destroying human life,' the statement said.
-Blair is to return to the summit tonight after flying to London to review the situation and leaving foreign secretary Jack Straw to chair the talks.
-In a televised statement, Blair said it was 'reasonably clear' that the series of bombings across the capital were the work of terrorists and designed to clash deliberately with the summit.
-'It is the will of all the leaders of the G8, however, that the meeting should continue in my absence, that we should continue to discuss the issues that we were going to discuss and reach the conclusions that we were going to reach,' he said.
-US president George Bush said he instructed the Department of Homeland Security to make sure Americans are 'extra vigilant' as they start their working day in the wake of the attacks in London.
-In a televised statement from the G8 Summit venue, Bush said: 'We will not yield to the terrorists.'
ECONOMIC ISSUES
-Leaders focused on oil prices during economic talks this morning that were cut short by news of the London bomb blasts, sources said.
-'The discussion was focused on oil prices and the need for stability in the oil market, but it was not an in-depth discussion as the news of the blasts started coming in,' one source said.
-French president Jacques Chirac said leaders discussed oil prices and foreign exchange rates, which he said are 'a problem for us all'.
-Italian prime minister Silvio Berlusconi said leaders were able to discuss problems facing the international economy despite having to contend with the London bomb blasts.
-'We didn't just discuss terrorism. We also talked about international economic conditions,' Berlusconi told reporters.
-He said leaders discussed oil prices, the need to invest in technology and alternative sources of energy, and the importance of a successful WTO trade round.
FARM SUBSIDIES
-Bush said he wants to work with the EU to end farm subsidies and hopes the WTO round of trade talks will achieve this by 2010.
-'We want to work with the EU to rid our respective countries of agricultural subsidies,' he told reporters.
-'I hope that by 2010 the Doha round will achieve that objective,' he said after meeting Blair.
-Chirac said the EU has offered to eliminate farm subsidies as long at its economic partners matched its commitment.
TRADE
-The leaders of five major developing nations urged the world's richest economies to remove trade barriers to help developing countries escape poverty.
CLIMATE CHANGE
-Bush said there is 'consensus to move forward' on climate change.
-But he reiterated his long-standing demands that a global warming treaty include developing countries such as China and India, countries that are excluded from the current Kyoto provisions.
CNOOC BID FOR UNOCAL
-Bush said the US review process must be followed in the 18.5 bln usd bid by Chinese company CNOOC Ltd for US energy firm Unocal Corp.
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