Tokyo, June 26: Leaders of the G20 (Group of 20) major economies are expected to call for “promotion of free trade” as efforts to achieve a strong global growth during the summit going to be held this week, according to Japanese state-run Asahi newspaper reports on Wednesday.
According to Reuters news reports, the G20 countries, in the draft communique, also stressed for the importance of generating a positive cycle where the solid growth’s benefits would be distributed across economies widely, the newspaper said.
The soured trade war between China and the United States has jolted the financial markets and hurt the business sentiments, casting a shadow on the two-day summit slated to take place in Osaka, Japan, from Friday.
Last year, under intense pressure from US President Donald Trump administration, the group had removed a stance from its communique calling for the need to resist the protectionism.
Earlier this month, the finance leaders of the G20 group has called off the language denouncing protectionism in its signed communique.
But however, some of the European nations were demanding the upcoming conference’s communique should include language cautioning against the spread of the protectionist policies, the newspaper Asahi reported.
US secretary of state Mike Pompeo has on Tuesday arrived in New Delhi as part of his official three-day visit to India, marking the first top-level engagement between the US and India after NDA government’s comeback to power for the straight second term for five years.’
Pompeo is slated to meet Prime Minister Narendra Modi and minister of external affairs S Jaishankar on Wednesday. The MEA is likely to host a lunch for the US state secretary.
Also read: Mike Pompeo in India to meet PM Modi, MEA Jaishankar ahead of Trump-Modi meet at G20