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The situation in the world economy loomed large during the discussions. The participants in the Summit passed a declaration on Fostering Growth and Promoting a Responsible Market Economy, and approved the Co-operative G8 Action on Trade.

The G8 also announced the creation of an Anti-terrorist Action Group called upon to strengthen the political will and co-ordinate various counter-terrorist agencies.

The G8 leaders passed a declaration recognizing the serious threat of international terrorism in the world as witnessed by a series of terrorist acts that recently took place in Saudi Arabia, Indonesia, Kenya, Morocco, Pakistan, the Philippines, Russia, Tunisia and Yemen. Weapons of mass destruction pose a major threat to international security along with the spread of terrorism. In this connection a declaration was adopted on non-proliferation of weapons of mass destruction.

The statement calls on North Korea to curtail in an open and verifiable and final manner all possible programmes aimed at creating nuclear weapons as the fundamental step towards a comprehensive and peaceful settlement.

The G8 heads of state and government have also called on Iran to fully comply with the nuclear non-proliferation treaty in exchange for resolute support for a comprehensive IAEA study of Iran’s nuclear programme.