G20 Summit declaration spotlights free, fair, non-discriminatory trade

China Supports Multilateralism, Inclusive Economy at G20 Summit

EU leaders warn of damage to global growth from trade war

Prime Minister of Japan, speaks during the second day of the G20 summit in Osaka, Japan, 29 June 2019.

Throughout its G20 presidency, Japan has been keen to put the world's 20 major economies on the same page over pressing global issues, in particular free trade and multilateral system.

"The G20 agreed on fundamental principles backing a free trade system", Abe said, adding that the group had also pledged stronger action to improve the dispute settlement system of the World Trade Organization (WTO).

Xi said 10 years after the global financial crisis, the world economy reached a crossroads again, and G20 members are obliged to set the direction for the world economy and global governance, boost market confidence and bring people hope during this critical period.

Merkel also lauded the deal between the European Union and the Latin American bloc MERCOSUR - also struck on the G-20 sidelines - to create the world's largest free trade zone after 20 years of negotiations.

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The commitment pointed to "how they (G20 members) can scale back protectionism and continue to promote trade liberalization, which is incredibly important", she told Xinhua on Saturday.

Additionally, 19 member economies of G20, excluding the U.S., agreed that the Paris Agreement on Climate Change is "irreversible"', and committed to fully enforcing the agreement.

- What will the leaders be discussing?

The "sherpas" - officials who do the groundwork for national leaders at major summits - had a "long night" trying to agree the wording, with climate change and trade key stumbling blocks.

"Multilateralism is in the Europe's DNA".

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When meeting at the G20 summit with UN Secretary-General Antonio Guterres, the Chinese president stressed his country's position in favor of peace and dialogue to find a solution to any kind of conflict.

The leaders agreed to address inequality and use smart policies to protect against threats to global growth from tensions over trade and geopolitical issues. "We are trying to do the best for our country", and we need to do more. -China Business Council, said returning to talks was good news for the business community and added much needed certainty to "a slowly deteriorating relationship".

"The global community should go towards multilateralism that advocates cooperation, instead of unilateralism", he said.

"The world economy can not afford a continued trade war on tariffs and politically motivated economic sanctions on other sovereign countries".

Even before the summit started, the differences over climate change became apparent when President Emmanuel Macron said France would not accept a final text that omitted the Paris pact.

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The G20 leaders will release the communique after they wrap up their two-day meeting on Saturday.

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