The seventh Leaders' Summit of the Group of Twenty (G20) opened in Los Cabos, a coastal resort in Mexico, shortly after 3 p.m., local time, Monday.
Mexican President Felipe Calderon has held a welcoming ceremony to open the G20 summit and delivered the opening speech to welcome leaders of the world's industrialized nations and major emerging economies to the first plenary session of the two-day event with the global economic crisis on top of its agenda.
Among the world leaders were Chinese President Hu Jintao, U.S. President Barack Obama, German Chancellor Angela Merkel and British Prime Minister David Cameron.
According to the summit's agenda, G20 leaders will discuss the world economic situation, the strengthening of the global financial system, green growth, trade and employment.
As the world economic recovery is being threatened by the Eurozone debt crisis, slowdowns in major developed nations and some emerging economies resulting in higher than anticipated unemployment, G20 leaders are expected to make joint efforts to ensure global growth and stability.
The G20 group include Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, the Republic of Korea, Turkey, the United Kingdom, the United States, and the European Union.
This is the first G20 summit in Latin America. The summit host, Mexican President Felipe Calderón, has said that Mexico seeks not only to help find a solution for the economic emergency but also to draw up a long-term global development agenda./.