Prime Minister Manmohan Singh leaves New Delhi on Wednesday for Seoul to attend the G-20 Summit that will review the global economic situation and the status of the world recovery.

The two-day meet, beginning Thursday, will also take stock of the progress of implementation regarding the past decisions of the international economic forum, that has met four times since the global financial crisis in 2008.

“This is indicative of the importance, dynamism and credibility of the G-20 as a grouping, which since the Pittsburgh Summit has been designated as the premier forum for international economic cooperation.

“We also value the G-20 as the principal platform for North-South dialogue with our developed country interlocutors,” said Foreign Secretary Nirupama Rao while briefing the reporters on the visit in New Delhi on Tuesday.

The earlier Summits have been held in Washington (Nov 2008), London (April 2009), Pittsburgh (Sept 2009) and Toronto (June 2010).

With Shared Growth Beyond Crisis as its theme, the Seoul Summit is expected to review the global economic situation, the status of the world recovery as well as the progress of implementation regarding the past G-20 Summit decisions.

In the light of the above, the leaders will decide on the future mandate and direction of G-20.

Without trying to speculate about the deliberations at the Summit, broadly speaking some of the areas the Leaders can be expected to address are International Financial Institution (IFI) Reforms, Financial Regulatory Reforms, Trade and Protectionism, Climate Change, development, Rao said.

On the margins of the Summit, the Prime Minister will also hold bilateral meetings with his counterparts from the UK and Canada and a pull-aside meeting with the head of the Brazilian delegation.

The Prime Minister will interact with the Leaders of participating countries on a range of bilateral, regional and global issues of mutual interest, Rao said.

Replying to questions about Prime Minister’s suggestion that G-20 should put on its agenda infrastructure building for global recovery, she said the agenda for Seoul Summit is for strong, sustainable and balance growth that should take care of the issue.

Asked about India’s stand on currency war over China’s attempt to keep its yuan low rate, Rao said the recent meeting of G-20 Finance Ministers in Seoul reached at broad agreement that the rate should be “market determined” and should not be subject to volatility.

As the host, South Korea has also invited leaders from Spain, Malawi (Chair of African Union), Ethiopia (Chair of NEPAD), Vietnam (Chair of ASEAN) and Singapore.

In addition, top officials from the United Nations, the World Bank, IMF, WTO, Financial Stability Board are likely to be present.

Indian delegation will include Deputy Chairman Planning Commission, who is Indias Sherpa for the G-20, the National Security Adviser and senior officials, Rao said.

The G-20 Summit starts on 11th November with a Welcome Reception followed by a Working Dinner by the President of the Republic of Korea.

On 12th November, the programme includes the Summit Opening Plenary Session, followed by Plenary Working Sessions in the morning and afternoon, a G-20 Family Photograph, a Leaders Working lunch and concludes in the afternoon with the Final Plenary Session.

As per past practice, a Declaration or Communique of the Seoul Summit is envisaged, Rao said adding, the Seoul Summit has a rich and diverse agenda for discussion.

A major Business Summit as a side-event in conjunction with the G-20 Summit.

The Seoul G-20 Business Summit (SGBS) will be held on 10th to 11th November 2010 at which around a 100 CEOs from G-20 member countries and beyond are expected to attend.

The SGBS theme is Role of Business in Sustainable and Balanced Growth and will have round tables on revitalising trade and foreign direct investment, enhancing financial stability and supporting economic activity, harmonising green growth, and delivering on the corporate social responsibility promise.

The outcome of the Business Summit will also be presented to the G-20 Leaders.