G-20 Officials Affirm Importance of Multilateral Cooperation

   Tokyo, July 18 (Jiji Press)--Group of 20 finance chiefs ended their two-day meeting in a suburb of Durban, South Africa, Friday by adopting a joint statement affirming the importance of multilateral cooperation to address global economic challenges such as trade frictions.
   G-20 finance ministers and central bank chiefs produced a joint statement for the first time since the inauguration in January of the second administration of U.S. President Donald Trump, which has launched high tariffs on other nations.
   In principle, top G-20 finance officials compile a joint statement unanimously. After the launch of the second Trump administration, they failed to produce a statement twice, in February and April. This time, efforts by South Africa, this year's chair of the G-20 forum, for the adoption of a joint statement paid off.
   At a press conference after the two-day meeting, Japanese Finance Minister Katsunobu Kato lauded the latest statement, saying, "It is of significance as it shows the G-20 economies' unity in tackling risks facing the global economy."
   The statement said that the global economy is facing "heightened uncertainty and complex challenges," citing, among other things, ongoing wars and conflicts, geopolitical and trade tensions, and disruptions to global supply chains.

(2025/07/19-02:15)

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