Abe to put trade, climate at centre of G20 agenda!

DAVOS: Japanese Prime Minister Shinzo Abe said on Wednesday he will seek to use his chairmanship of the Group of 20 leading economies to rebuild trust in the global trade system. His speech to the World Economic Forum in the Swiss Alps was significant at a time when a bitter Sino-US trade dispute is one of several factors threatening to bring about a sharp slowdown in global growth.“Japan is determined to preserve and committed to enhancing the free, open, and rules-based international order,” he told delegates.
“I call on all of you… to rebuild trust towards the system for international trade. That should be a system that is fair, transparent, and effective in protecting intellectual property rights and also in such areas as e-commerce and government procurement.”With the French, British and US leaders cancelling their visits because of more pressing concerns at home, Abe is one of only three Group of Seven leaders attending the annual event in Davos, where business executives are worried about the damage that populism and trade protectionism are inflicting on the global economy.
Abe said Japan, as chair of this year’s gathering of the Group of 20 (G20), will also seek to spearhead discussions on climate change and ways to facilitate use of digital data while protecting intellectual property.
The comments underscore Japan’s hope to rally support from some of its G20 counterparts in pushing for a multilateral approach in solving trade frictions. That could help Tokyo fend off pressure from Washington to open up its agriculture market and take other steps to fix bilateral trade imbalances, analysts say.
At his previous Davos visit in 2014, Abe pledged to pull the economy out of stagnation with his “Abenomics” mix of fiscal spending, ultra-easy monetary policy and steps to boost Japan’s potential growth via labour market reform and deregulation. — Reuters