HAMBURG, GERMANY – Japan will host its first Group of 20 summit in 2019, a G-20 source said Saturday as the leaders of the advanced and emerging economies wrapped up a conference focused on trade and climate change.
Argentina plans to assume the presidency of the G-20 next year. The latest round of the forum for global issues was hosted by the German port city of Hamburg through Saturday.
Germany had the daunting task of finding common ground over divisive aspects of trade and climate change policy to compile the summit’s joint statement.
Prime Minister Shinzo Abe has taken the opportunity provided by the meeting to highlight Tokyo’s push for open trade, highlighting a broad free trade agreement Japan reached with the European Union earlier this week.
U.S. President Donald Trump’s move to prioritize American interests and pull the U.S. out of the Paris climate accord apparently had a strong bearing on the meeting.
Leaders of various countries touched on the U.S. pullout Friday, acknowledging that it was important to reduce greenhouse gas emissions while pursuing economic growth at the same time, a delegation source said.
The G-20 leaders have also agreed that there is a need to address overcapacity and use all policy tools — monetary, fiscal and structural — to ensure global economic growth is strong, balanced and inclusive.
They also agreed to stand “united and firm against terrorism and its financing,” and to promote information exchanges.
The G-20 members were unanimous in condemning North Korea’s decision to test an intercontinental ballistic missile in defiance of the U.N. and international pressure.
The annual G-20 summit got its start in 2008, when the global financial crisis began to unfold.
The G-20 groups Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United States and the European Union.
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