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Abe to put trade, climate at top of G20 to-do list
DAVOS, Switzerland (Reuters) — 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 and foster consensus on ways to address climate change.
His speech to the World Economic Forum in the Swiss Alps was significant at a time when a bitter Sino-U.S. 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 toward 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.”
Abe said Japan hoped to work with the United States and Europe to reform World Trade Organization (WTO) rules so they adopt to a rapidly changing environment for global trade.
“We have to make the WTO a more credible presence. We have to make reforms to make it more credible. Japan would like to play a leading role in WTO reforms,” he said.
The WTO has been paralyzed as the United States, unhappy with what it says is the WTO’s failure to hold Beijing to account for not opening up its economy, has blocked new appointments to the world’s top trade court. Rapidly running out of judges, some analysts say the WTO will be unable to issue binding rulings in trade disputes.
U.S. pressure
With the French, British and U.S. leaders canceling 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.
http://the-japan-news.com/news/article/0005498815