16 December 2003 11:10
G8 labour ministers say global economy in process of recovery
Labour ministers of the Group of Eight leading industrial nations said that the global economy was on the road to
recovery, in a final statement released at the end of a three-day summit.
"Current indicators suggest that the global economy is in the process of recovery," the ministers from
Britain, Canada, France, Germany, Italy, Japan, Russia and the United States said in the communique Tuesday.
"Sustained and strong economic growth is a prerequisite for an improvement of the labour situation," it
said.
"In order to further strengthen economic growth, the process of structural reform needs to be accelerated. We
therefore stress our determination to undertake labour market reforms where necessary, to facilitate structural
adjustments in our economies, expand sustained economic growth and promote employment," the ministers said.
"Labour markets must be dynamic and flexible," they said.
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