TOKYO (AP) — Trade and economy officials from the Group of Seven wealthy democracies strengthened their pledge Sunday to work together to ensure smooth supply…
Trade and economy officials from the Group of Seven wealthy democracies strengthened their pledge Sunday to work together to ensure smooth supply chains for essentials like energy and food despite global uncertainties.
The nations promised to maintain “a free and fair trading system based on the rule of law and enhancing economic resilience and economic security,” officials said in a joint statement.
Foreign Minister Yoko Kamikawa, who co-hosted the two-day event in the western city of Osaka, pointed to Russia’s invasion of Ukraine and the Israel-Hamas war as the latest threats to stable energy and food supplies.
“We nations that share important values have a position of responsibility amid growing uncertainties,” she said in closing the meeting, stressing democracy, inclusiveness and human rights.
Worries are growing among developed nations about maintaining a stable supply of computer chips as well as essential minerals, like lithium, which are critical these days amid the demand for electric vehicles and other green energy.
The G-7 includes the U.S., Canada, France, Germany, Italy, Japan and Britain. The European Union, Australia, Chile, India, Indonesia and Kenya were invited to take part in the two-day meeting, as were economic organizations such as the World Trade Organization.
