German Chancellor Angela Merkel, whose country holds the rotating G8 presidency, issued a joint statement on Friday with leaders from the five developing countries who attended an outreach session in the G8 summit.

The statement said talks between the leaders from the G8 leading industrialized nations and Brazil, China, India, Mexico and South Africa mark "an important step towards an equal and enduring partnership" for building the framework conditions of a globalized and competitive world economy.

The leaders said they are committed to cooperate in the following fields:

Promoting Cross Border Investment

The leaders pledged to work together to promote more favorable conditions for investment, both domestic and foreign, with the aim of fostering economic growth and sustainable development. This may also include the encouragement of responsible business conduct.

Promoting Research and Innovation:

The leaders recognized that strategies to encourage and support research and innovation are key elements for future sustainable development of the economies.

Fighting Climate Change:

The leaders reaffirmed their commitment to the United Nations Framework Convention on Climate Change and to its objective through both mitigation and adaptation in accordance with their common but differentiated responsibilities and respective capabilities.

Energy:

The leaders confirmed their commitment to promote energy efficiency, through cost-effective solutions, to advance the effective use of fossil fuels, and to increase the use of cleaner and renewable energy sources as an important step towards secure, stable and competitive energy supplies for achieving sustainable development.

Development, particularly in Africa:

The leaders reiterated their commitment to the Millennium Development Goals, the eradication of poverty and sustainable global development.

Source: Xinhua