Davos: Japan\'s Abe to put trade\, climate at centre of G20 agenda

Davos: Japan's Abe to put trade, climate at centre of G20 agenda

Reuters  |  DAVOS, Switzerland 

By Kihara

His speech to the in the Swiss was significant at a time when a bitter Sino-U.S. trade dispute is one of several factors threatening to bring about a sharp slowdown in global growth.

"is determined to preserve and committed to enhancing the free, open, and rules-based international order," he told delegates.

"I call on all of you ... to rebuild trust toward the system for international trade. That should be a system that is fair, transparent, and effective in protecting intellectual property rights and also in such areas as and government procurement."

With the French, British and U.S. leaders cancelling their visits because of more pressing concerns at home, Abe is one of only three leaders attending the annual event in Davos, where business executives are worried about the damage that populism and trade protectionism are inflicting on the global economy.

Abe said Japan, as of this year's gathering of the Group of 20 (G20), will also seek to spearhead discussions on climate change and ways to facilitate use of digital data while protecting intellectual property.

The comments underscore Japan's hope to rally support from some of its counterparts in pushing for a multilateral approach in solving trade frictions.

That could help fend off pressure from to open up its politically sensitive agriculture market and take other steps to fix bilateral trade imbalances, analysts say.

has to be consistent on the need to promote free trade "and shouldn't change this stance even if the is always talking about doing a bilateral deal," said Takeshi Niinami, of brewer and an

Australia, and other (TPP) countries could help make free trade a key topic of debate at the G20, he told

At his previous visit in 2014, Abe pledged to pull the economy out of stagnation with his "Abenomics" mix of fiscal spending, ultra-easy monetary policy and steps to boost Japan's potential growth via labour market reform and deregulation.

Five years later, the boost to growth from Abenomics is fading, inflation remains far below the Bank of Japan's target and critics point to a lack of progress on deregulation.

Abe sought to counter such criticism, saying that through job-creating policies he had demolished "a wall of despair and pessimism on Japan" that had existed five years ago.

He said Japan hoped to build a consensus on the need to reduce plastic waste flowing into the oceans, and coordinate on global usage of digital data without infringing on personal privacy and intellectual property.

"I must say that spending money for a green earth and a blue ocean, once deemed costly, is now a growth generator," he said.

"Decarbonisation and profit making can happen in tandem. We policy makers must be held responsible to make it happen, as I will be stressing in this year."

People close to the have said Abe is keen to use the summit in Osaka, western Japan, in June to boost his poll ratings ahead of an looming mid-year.

(Reporting by Kihara; Editing by Mark Trevelyan)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 23 2019. 17:13 IST