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G20 Finance Ministers Meeting Successfully Concluded

Press Release
Berlin, November 21, 2004

See also:
G20 Communiqué
G20 Accord for Sustained Growth
G20 Reform Agenda
G20 Statement on Transparency and Exchange of Information for Tax Purposes

On the occasion of the meeting of G20 Finance Ministers and Central Bank Governors on 19 to 21 November 2004 in Berlin the Federal Ministry of Finance declares:

The Finance Ministers and Central Bank Governors of the G20 met this weekend in Berlin. The meeting was characterized by an open and constructive dialogue on central issues of globalization. The results have been summarized in a communiqué (see attachment).

• There was consensus that the world economy proceeds on a solid growth path despite the developments of oil prices.

• An important topic was the fight against the abuse of the financial system. With the statement on cross-border exchange of information for tax purposes according to the OECD Codex we have reached a breakthrough.

• Furthermore, we have reached an agreement on the most important policy requirements for high and sustainable growth. Such a degree of consensus would not have been possible a few years ago. Next year China will assume the chair of the G20.

Source: G20 website

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