G20 (Summit on Financial Markets and the World Economy)

In this session, which was held from 9:30 a.m., local time (4:30 p.m.,JST), for approximately 4 hours and 10 minutes, participants discussed global challenges facing the international community, as well as the outcomes of the G20 under South Africa’s Presidency.

1. At the outset, Foreign Minister Iwaya made the following remarks.
   The international community faces various global challenges, such as climate change, disasters, and food security. In such a situation, the G20 needs to identify common ground and points of agreement, rather than division and confrontation, and lead in solving these issues in a way that all members share responsibility.


2. Foreign Minister Iwaya made the following remarks on priority issues set forth by South Africa and matters to which Japan attaches importance.
• (i) Japan supports the priority issues set forth by South Africa. In particular, Japan attaches importance to strengthening disaster risk reduction and response, utilization of critical minerals, and debt issues, and intends to promote related efforts in cooperation with G20 members.
• (ii) As one of the world’s most disaster-affected countries, Japan aims to become the leading nation for disaster risk reduction in the world. While contributing to advancing the implementation of the Sendai Framework for DRR, Japan will share its knowledge and technologies with the international community, including the G20, and contribute to strengthening preparations for and responses to the frequent large-scale natural disasters worldwide, such as earthquakes and typhoons.
• (iii) Stable supply of critical minerals through diversification of supply chains is extremely important for a smooth transition to clean energy. Japan promotes efforts to ensure a level playing field in the trade of critical minerals. Furthermore, Japan supports mining development including the launch of resource projects that contribute to building responsible critical mineral supply chains as well as human resource development and technical cooperation in resource-rich countries to aim at local value addition, including through Partnership for Resilient and Inclusive Supply chain Enhancement (RISE)
• (iv) There is an urgent need to address the debt issues faced by developing countries. To this end, it is important to speed up the debt restructuring process under the G20 Common Framework and further improve debt transparency.
• (v) Regarding AI, Japan intends to facilitate innovation, maximize opportunities, promote human-centric AI and achieve safe, secure, and trustworthy AI. It is essential to close the digital divide so that the benefits of AI can be widely enjoyed in developing countries. Japan will continue to support efforts toward the establishment and enhancement of AI governance in developing countries, including Africa.
• (vi) A free and fair economic order is the foundation for global economic growth and prosperity. Japan would like to discuss the WTO reform, which is an urgent issue, at the G20 as well, using this year's 30th anniversary of the WTO's establishment as momentum.


3. Foreign Minister Iwaya made the following remarks on strengthening cooperation with Africa.
• (i) Cooperation with Africa is becoming increasingly important in the G20, in light of the African Union’s (AU’s) accession to the G20 in 2023, and the G20 being held in Africa for the first time this year.
• (ii) Africa is a young continent that is full of potential and hope. Japan has long promoted cooperation based on the spirit of African ownership and international partnership.
• (iii) In August this year, the summit-level Ninth Tokyo International Conference on African Development (TICAD 9) will be held, and Japan will work to co-create solutions to various challenges with African countries. Japan intends to link the outcomes of TICAD 9 to G20 efforts.


4. Foreign Minister Iwaya made the following remarks on evaluating the G20 and other matters. As the importance of the G20 has increased, the scope of the areas that it deals with has also been expanding. Japan agrees with conducting a review of the G20’s original role, outcomes, and challenges to date. Above all, the G20 must make itself a forum that leads the resolution of issues in the international community through even more effective, efficient, and concrete actions. Japan intends to engage in thorough discussions among members.


5. Lastly, Foreign Minister Iwaya expressed his gratitude for the hospitality of the Presidency, South Africa, and stated that Japan will actively contribute to the success of the G20 Johannesburg Summit..