G-20 Summit Calls For Promotion Of Free Trade

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This year’s G-20 Summit is likely to call for the promotion of free trade, which can be seen as a mechanism to achieve global growth as they meet for the summit this week, as mentioned by Japan’s Asahi newspaper.

The G-20 leaders are looking forward to an approach wherein they can create a positive cycle where the benefits of solid growth are distributed broadly across the economies.

The US-China trade conflicts have dropped a lot of businesses this year, the two leaders have agreed to meet at the summit and there are chances for the Trade issues to be negotiated within the two days of the summit starting Friday at Osaka, Japan.

At the last year’s summit in Buenos Aires, G-20 removed a phrase calling for the need to resist protectionism from its communique, under the pressure of US President Donald Trump.

Although a few European countries are demanding that the upcoming summit must include communique include language warning against the spread of protectionist policies, Asahi mentioned.

Japan which will chair this year’s G-20 summit is looking forward to putting forth the idea of compromising the communique and also has a phrase to endorse the promotion of free trade across the countries.

Markets are focusing on whether President Trump and President Xi Jinping will negotiate the terms of Trade War this summit as the ongoing tensions between both the countries has affected business all over.

The summit is to be held on the 28th and 29th of June at International Exhibition Center in Osaka, Japan. G-20 summit was started back in 2011 annually, the summit was designed as a premier forum for international economic cooperation.

Along with its 19 leaders and EU (European Union), the 19 countries part of the summit are Japan, China, India, Argentina, United States, Austalia, Brazil, France, Canada, Germany, Italy, Mexico, Indonesia, Russia, Republic of South America, Republic of South Korea, Saudi Arabia, United Kingdom, Turkey and European Union.

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