The 14th summit of the Group of 20 (G20) concluded in Osaka, Japan on Saturday. Addressing the keynote speech at close session, Japanese Prime Minister Shinzo Abe said the leaders have agreed in principle to govern the global economy.
Amid the reform of the World Trade Organization, Abe said the reform is necessary to bring the organization to a new era by involving digital technologies to enhance its effectiveness.
He also attached the importance of free data flow across borders among major G20 economies, of which new rulemaking is in progress.
Besides, Chinese President Xi Jinping said Saturday that China supports the concept that high-quality infrastructure should be the foundation of inclusive development. He called for an open, green economy and transparent government.
Xi also invited other countries to join the effort of building a sustainable and inclusive economy.
World leaders discussed issues such as trade, the environment and innovation at the two-day event from June 28 to 29, marking the first-ever G20 summit hosted by Japan.
G20 leaders and delegates attended the closing session of the summit amid the ongoing trade wars and tides of protectionism riding high in the global economic scenario, Abe to drew attention towards finding common grounds rather than differences in opinions.
“In an age where various concerns are being raised regarding the outlook for the world economy and sustainability, our responsibilities become even greater. Basing ourselves on the Osaka Leaders Declaration and tenaciously identifying points of consensus and common ground rather than differences in views let us continue to cooperate towards the realization of an inclusive and sustainable future society,” said Abe while addressing the closing session of the summit.
Also, addressing a news conference later on Saturday, Abe said he had told US President Donald Trump and Chinese President Xi Jinping that it was extremely important to engage in constructive discussion to solve their trade tensions.