Japan's Prime Minister Shinzo Abe speaks at the G20 summit. (Photo: AFP/VNA)

Speaking on the first day of the summit, Japan’s Prime Minister Shinzo Abe, whose country currently holds the presidency of the G20, said he is deeply concerned about the current trade environment. "A free and open economy is the foundation of peace and prosperity, but anxiety and discontent  regarding  abrupt changes due to globalisation at times  brings about the temptation of protectionism, causing  sharp confrontation between states," said Mr. Abe. He added that a strong message is needed on free, fair and nondiscriminatory trade. Abe called on the G20 to use all policy tools in place to drive the global economy. He also hoped to discuss with leaders the measures on furthering  the  reform of the World Trade Organization.

Also on Friday, G20 leaders agreed on the importance of the digital economy. Mr. Abe said digitally driven economies can spark innovation and encourage economic growth. But in order to do so, there needs to be a reliable set of international rules for the free flow of data, he added. He called on concerned parties to make progress on the digital economy at the WTO’s ministerial meeting scheduled for June of next year.