Statement by Kengo Sakurada, Chairman of Keizai Doyukai
on Outcome of G20 Osaka Summit
June 29, 2019
Chairman, Keizai Doyukai
- We appreciate G20 Osaka leaders' declaration. It confirms basic rules for free trade, such as freedom, fairness and non-discrimination, amid complicated conflict of interests among participating countries. It also presents a stance of addressing various global challenges with their concerted efforts. We respect Prime Minister Abe's leadership that has brought success to the Summit hosted by Japan. Our appreciation also goes to the officials of the national and Osaka City government as well as others involved with the event.
- In the field of rule-setting initiative in the digital economy, it is significant that all leaders have agreed to have common perception on DFFT, or "Data Free Flow with Trust," in the three axes of differences; the advanced and developing nations, the United States and China, and the U.S. and the European Union. With the launch of the "Osaka Track," an overarching framework promoting cross-border data flow with enhanced protections, we expect the negotiation on electronic commerce at the WTO to create a basis to prevent data protectionism.
Meanwhile, we welcome the "Osaka Blue Ocean Vision" incorporating a numeric target of reducing new plastic marine waste to zero by 2050, as it is a step forward to start a virtuous cycle of environment and growth.
- Going forward, the initiatives in the declaration must be put into practice with a focus on the direction provided, utilizing a variety of international frameworks including those of international organizations and multilateral agreements. We hope Japanese government leads the international community in this regard.