News / Economy

    G8 Summit Under Way in France

    Men work near a G8 backdrop as preparations continue ahead of the G8 summit in Deauville, northern France, May 25, 2011
    Men work near a G8 backdrop as preparations continue ahead of the G8 summit in Deauville, northern France, May 25, 2011

    The Group of Eight summit is under way in France, with heads of the world's leading economies discussing global issues, including the uprisings sweeping the Middle East and North Africa.

    U.S. President Barack Obama is using the gathering to reinforce his call for international assistance to help countries in that region adopt political and economic reforms.

    One of the president's economic advisers, David Lipton, told reporters Thursday the U.S. considers discussions on the Middle East and North Africa to be "among the most important things" to be done at the summit.

    He said G8 leaders will begin the talks at dinner Thursday and meet with the prime ministers of Egypt and Tunisia and the head of the Arab League on Friday morning.  He said the G8 leaders will have a chance to discuss with the three regional representatives their plans and aspirations for change, and ways in which the international community can help.

    Obama outlined ways the U.S. will provide economic support to Egypt, Tunisia and other nations transitioning to democracy in a key policy speech last week.  On Wednesday, the European Union said it will increase its aid to 16 countries in the Middle East, North Africa and the former Soviet Union, and that the aid will be linked to their progress toward democracy.

    Other topics of discussion at this week's G8 gathering in the French resort town of Deauville include Japan's nuclear crisis and the world economy.

    President Obama met with Russian President Dmitry Medvedev Thursday on the sidelines of the summit.  Obama said the two countries agreed to work on the contentious issue of U.S. plans to build a missile defense shield in Central and Eastern Europe.  He said they committed to working together to find an approach that is "consistent with the security needs of both countries."

    Speaking to reporters alongside Obama, Medvedev said the missile defense issue would be solved by future politicians, but that he and Obama could lay the foundation now.

    The two leaders also discussed Russia's bid to enter the World Trade Organization.  President Obama said Russia's entry would be good for the economy and expressed confidence it could be done.

    The Russian president announced with his French counterpart, Nicolas Sarkozy, an agreement for France to sell four warships to Russia.  The leaders told reporters at the G8 summit that the deal would be signed within two weeks.  Under the agreement, two of the Mistral-class helicopter carriers will be built in France and the other two in Russia.

    Sarkozy is chairing the G8 gathering.  It is the first major world meeting since former International Monetary Fund chief Dominique Strauss-Kahn resigned after being charged with trying to rape a hotel maid in New York City.  It is unclear who will replace him.

    President Obama came to France after a state visit to Britain, where he met with Prime Minister David Cameron.  The two leaders reaffirmed their stance on Libya, saying allied military operations there will continue until leader Moammar Gadhafi stops attacking civilians and gives up power.

    At a joint news conference Wednesday in London, President Obama said there will be no letup in the pressure on Gadhafi.  He later told the British parliament that the U.S., Britain and their allies "stopped a massacre in Libya" and will not relent until what he called "the shadow of tyranny" is lifted.

    Some information for this report was provided by AP, AFP and Reuters.

    You May Like

    Hope Remains for Rio Olympic Games, Despite Woes

    Facing a host of problems, Rio prepares for holding the games but experts say some risks, like Zika, may not be as grave as initially thought

    IS Use of Social Media to Recruit, Radicalize Still a Top Threat to US

    Despite military gains against IS in Iraq and Syria, their internet propaganda still commands an audience; US officials see 'the most complex challenge that the federal government and industry face'

    ‘Time Is Now’ to Save Africa’s Animals From Poachers, Activist Says

    During Zimbabwe visit, African Wildlife Foundation President Kaddu Sebunya says poaching hurts Africa as slave trade once did

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Ivorian Chocolate Makers Promote Locally-made Chocolatei
    X
    July 29, 2016 4:02 PM
    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
    Video

    Video Ivorian Chocolate Makers Promote Locally-made Chocolate

    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
    Video

    Video Tesla Opens Battery-Producing Gigafactory

    Two years after starting to produce electric cars, U.S. car maker Tesla Motors has opened the first part of its huge battery manufacturing plant, which will eventually cover more than a square kilometer. Situated close to Reno, Nevada, the so-called Gigafactory will eventually produce more lithium-ion batteries than were made worldwide in 2013. VOA's George Putic reports.
    Video

    Video Polio-affected Afghan Student Fulfilling Her Dreams in America

    Afghanistan is one of only two countries in the world where children still get infected by polio. The other is Pakistan. Mahbooba Akhtarzada who is from Afghanistan, was disabled by polio, but has managed to overcome the obstacles caused by this crippling disease. VOA's Zheela Nasari caught up with Akhtarzada and brings us this report narrated by Bronwyn Benito.
    Video

    Video Hillary Clinton Promises to Build a 'Better Tomorrow'

    Democratic presidential candidate Hillary Clinton urged voters Thursday not to give in to the politics of fear. She vowed to unite the country and move it forward if elected in November. Clinton formally accepted the Democratic Party's nomination at its national convention in Philadelphia. VOA national correspondent Jim Malone has more.
    Video

    Video Trump Tones Down Praise for Russia

    Republican presidential candidate Donald Trump is toning down his compliments for Russia and Vladimir Putin as such rhetoric got him in trouble recently. After calling on Russia to find 30.000 missing emails from rival Hillary Clinton, Trump told reporters he doesn't know Putin and never called him a great leader, just one who's better than President Barack Obama. Putin has welcomed Trump's overtures, but, as Zlatica Hoke reports, ordinary Russians say they are not putting much faith in Trump.
    Video

    Video Uganda Unveils its First Solar-powered Bus

    A solar-powered bus described by its Ugandan makers as the first in Africa has made its public debut. Kiira Motors' electric bus, Kayoola, displayed recently at a stadium in Uganda's capital. From Kampala, Maurice Magorane filed this report narrated by Salem Solomon.
    Video

    Video Silicon Valley: More Than A Place, It's a Culture

    Silicon Valley is a technology powerhouse and a place that companies such as Google, Facebook and Apple call home. It is a region in northern California that stretches from San Francisco to San Jose. But, more than that, it's known for its startup culture. VOA's Elizabeth Lee went inside one company to find out what it's like to work in a startup.
    Video

    Video Immigrant Delegate Marvels at Democratic Process

    It’s been a bitter and divisive election season – but first time Indian-American delegate Dr. Shashi Gupta headed to the Democratic National Convention with a sense of hope. VOA’s Katherine Gypson followed this immigrant with the love of U.S. politics all the way to Philadelphia.
    Video

    Video Dutch Entrepreneurs Turn Rainwater Into Beer

    June has been recorded as one of the wettest months in more than a century in many parts of Europe. To a group of entrepreneurs in Amsterdam the rain came as a blessing, as they used the extra water to brew beer. Serginho Roosblad has more to the story.
    Video

    Video Commerce Thrives on US-Mexico Border

    At the Democratic Convention in Philadelphia this week, the party’s presumptive presidential nominee, Hillary Clinton, is expected to attack proposals made by her opponent, Republican presidential nominee Donald Trump, to build a wall along the U.S.-Mexico border. Last Friday, President Barack Obama hosted his Mexican counterpart, President Enrique Peña Nieto, to underscore the good relations between the two countries. VOA’s Greg Flakus reports from Tucson.
    Video

    Video Film Helps Save Ethiopian Children Thought to be Cursed

    'Omo Child' looks at effort of African man to stop killings of ‘mingi’ children
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.

    Special Report

    Adrift The Invisible African Diaspora

    World Currencies

    EUR
    USD
    0.8998
    JPY
    USD
    103.32
    GBP
    USD
    0.7594
    CAD
    USD
    1.3176
    INR
    USD
    66.954

    Rates may not be current.