Key takeaways from the G7 Summit joint statement

In a joint statement, the G7 countries left the door open to cooperation with China, calling for the development and adoption of international technical standards for trustworthy AI...

Những nội dung quan trọng trong tuyên bố chung Hội nghị thượng đỉnh G7. (Nguồn: Reuters)

On May 20, leaders of the Group of Seven (G7) industrialized nations issued a joint statement at a summit in Hiroshima, Japan. (Source: Reuters)

On May 20, leaders of the Group of Seven (G7) industrialized nations issued a joint statement at a summit in Hiroshima, Japan, leaving the door open for cooperation with China and avoiding escalating tensions between the world's second largest economy and the group of Western powers and Japan.

Do no harm, nor hinder China

In a joint statement, the G7 leaders stressed their desire for “stable and constructive relations” with Beijing and their opposition to “militarization” in the Asia- Pacific region. “Our policy approach does not seek to harm China, nor does it seek to impede China’s economic progress and development,” the G7 leaders’ statement said.

The statement also affirmed the G7 countries' determination to reduce dependence on China for sensitive supply chains, emphasizing that "Economic resilience requires de-risking and diversification", and committed to "reducing excessive dependence on critical supply chains".

The G7 also called on China to make efforts to participate in resolving the conflict in Ukraine.

Apply technical standards with reliable Al

Regarding artificial intelligence (AI), G7 leaders called for the development and adoption of international technical standards for trustworthy AI, as G7 lawmakers focus on this new technology.

G7 leaders said that approaches to achieving the shared vision and goals of trustworthy AI may differ, but governance of the digital economy needs to continue to be updated in line with the group's shared values.

The statement specifically mentioned artificial AI, with G7 leaders affirming the “immediate need to assess the opportunities and challenges posed by artificial AI”.

Accelerating the reduction of dependence on Russian gas

On gas, the joint statement said G7 leaders believe state-supported investment in the gas sector may be appropriate temporarily while countries accelerate the phasing out of dependence on Russia.

"We underline the important role of increasing the supply of liquefied natural gas (LNG) and acknowledge that investment in this sector may be appropriate to cope with the current crisis and address the gas market shortages caused by the crisis," the joint statement said.

Committed to a decarbonization roadmap

G7 leaders reaffirmed their commitment to decarbonisation by 2030 and their commitment to achieving net zero emissions by 2050. The statement highlighted various actions countries are taking, including policies to achieve 100% or more zero-emission vehicle sales by 2035 and beyond. Policies include actions to achieve 100% electric sales of new passenger cars by 2035 and to promote sustainable carbon neutral fuels and infrastructure, including biofuels and synthetics.

“We recognise the opportunities these policies provide to contribute to the decarbonisation of roads, with a target of 50% of vehicles sold globally being zero-emission by 2030,” the joint statement said.

Food and energy security

Regarding food security, the G7 Summit's joint statement said the leaders called on all parties to the Black Sea Grains Initiative to "continue and fully implement the smooth operation of the agreement to the maximum extent possible and for as long as necessary."

G7 leaders stressed the importance of creating conditions to continue delivering grain to those who need it most.

G7 leaders also confirmed they would increase energy and development support for emerging and developing countries; agreed to take steps to protect food security threatened by the conflict in Ukraine.

Coordination Platform on Economic Coercion

In addition, the joint statement also stressed the importance of strengthening the supply chains of important industrial materials, such as semiconductors, and taking necessary measures to counter unilateral trade restrictions.

G7 leaders called on all countries to adhere to the principles of "transparency, diversification, security, sustainability, credibility and trust" in building supply chain networks.

G7 leaders also agreed to establish a new initiative to counter economic coercion and committed to taking steps to ensure that any actor seeking to weaponize economic dependence fails and faces consequences.

The initiative, called the "Coordination Platform on Economic Coercion," will use early warning and rapid information sharing on economic coercion, with member states holding regular consultations, the statement said.

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