ITALY:
Leaders of the Group of Seven pledged on Friday to tackle unfair business practices from China that undermined their workers and industries, according to a draft statement on the final day of the annual summit.
The G7 also warned of action against Chinese financial institutions that helped Russia acquire weapons for its war against Ukraine.
The leaders of Italy, the United States, Britain, Canada, France, Germany and Japan on Friday discussed concerns about China’s excess industrial capacity, which Western governments say is distorting local markets.
Pope Francis was then due to make a historic appearance at the summit in southern Italy to discuss artificial intelligence.
The draft statement, seen by Reuters, stressed that the G7 was not trying to harm China or hinder its economic growth, but “will continue to take measures to protect our businesses from unfair practices, level the playing field and repair ongoing damage.”
The US this week imposed new sanctions on China-based companies that supply semiconductors to Russia amid concerns over Beijing’s increasingly aggressive stance against Taiwan and clashes with the Philippines over competing maritime claims.
“China is not supplying weapons (to Russia) but the ability to produce those weapons and the technology available to do so, so it is actually helping Russia,” US President Joe Biden told reporters at the summit on Thursday after the signing of a bilateral security agreement. agreement with Ukrainian President Volodymyr Zelensky.
During the first day of their meeting in southern Italy, G7 nations agreed on a deal to provide $50 billion in loans for Ukraine backed by interest on frozen Russian assets – hailing the deal as a strong signal of resolve of the West.
In the draft, G7 leaders also promised sanctions against entities that helped Russia circumvent sanctions on its oil by fraudulently transporting it.
Abortion formulation series
The draft reiterated commitments made at the G7 meeting in Japan last year on sexual and reproductive rights, but did not directly mention the word abortion.
The issue has sparked a row between France and Italy after Rome – which holds the rotating presidency of the G7 – demanded that the reference to “safe and legal abortion” be removed from the final statement.
The Pope will be joined by 10 other heads of state and government, including the Prime Minister of India and the King of Jordan, as the G7 opens its doors to outsiders to show it is not a remote, exclusive club.
In addition to his speech on artificial intelligence, the Pope will have multiple bilateral meetings, including with Biden, Zelensky and Turkish President Tayyip Erdogan.
“It is a historic day. We will welcome the Holy Father. It is the first time for a pontiff in a G7 group. I am proud that it will happen under the Italian presidency,” Italian Prime Minister Giorgia Meloni told reporters on Thursday.
The leaders will also discuss migration, a critical issue for Meloni who is pressing Europe to help curb illegal flows from Africa and who has launched a flagship plan to boost development on the continent to tackle the root cause of departures.
Many of the leaders will leave Italy late Friday, including Biden, and Meloni said they had already agreed on the conclusions of the summit, which will be adopted at the end of the day.
On Saturday, there will be room for bilateral meetings for those who remain, ahead of the final press conference from Meloni.
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