The G7 Biarritz statement underlines the unity and positive spirit of the ongoing debates. According to the final statement, the G7 is committed to open and fair world trade and to the stability of the global economy.
– The G7 wishes to overhaul the WTO to improve effectiveness with regard to intellectual property protection, to settle disputes more swiftly and to eliminate unfair trade practices, the statement said.
The event was also about gender and environmental issues. They launched the Biarritz Partnership Gender Equality initiative for governments to join.
The leaders urged also Multilateral Development Banks (MDBs) and other Development Finance Institutions (DFIs)
- to build on existing efforts to promote transparency and accountability mechanisms
- to support projects that respect international law and prevailing standards, including the rule of law, human and labour rights, gender equality, and environmental standards
- and to avoid unjustified disparities in the treatment of companies in calls for tenders.
Regarding the climate change issues, the US President Donald Trump kept his earlier message same and underlined the importance of LNG energy as one of the major energy sources in the world.
-I’m not going to lose that wealth (LNG). I’m not going to lose it on dreams, on windmills, which frankly aren’t working too well, he said in the media meeting.
The tone of voice related to trade deals and US -China trade was somewhat positive and according to Mr Trump he said that he has great respect on the Chinese President Xi.
According to Bloomberg, some analysts thought that the UK PM Boris Johnson had a good meeting with the other G7 leaders and this was a positive sign for the Brexit due to October 31st.
The financial markets turned to green and the New York closed clearly up. Dow Jones index closed up 1,07 %, S&P 500- index 1,11 % and technology Nasdaq- index 1,32 %.