The G20 business summit in Seoul has ended with a vow by global business leaders to urge governments across the world to abandon protectionist policies.

The some 120 CEOs who attended the two-day summit released the statement Thursday afternoon at the gathering’s closing ceremony.

The business leaders urged governments to reduce protectionist measures to levels seen before the global financial crisis and to remove policies that block direct foreign investment.

The business leaders also called on governments to improve laws and systems to foster small business and to cooperate with the private sector to boost youth employment and renewable energy.

During the meeting, business leaders and 12 heads of state, including Russian President Dmitry Medvedev, held discussions on issues such as trade and investment, finance, green growth and corporate responsibility.