FUKUOKA, Japan, June 8. /TASS/. Meeting of Ministers of Finance and governors of Central banks of the countries “the twenty” opens Saturday in Fukuoka (Japan). The Russian side will participate the head of the Bank of Russia Elvira Nabiullina, Deputy Finance Minister Sergei Storchak.
As expected, the focus of the meeting will be the situation in the world economy and current trade disputes, the U.S. and China. The sides will discuss a range of issues related to improvement of taxation systems and measures to ensure sustainable growth.
“It is extremely important that we can discuss in this multi-faceted format as the G20, trade disputes United States and China. I look forward to an active discussion on this topic. In this regard, it is necessary to focus not only on the trade balance, but also on capital and services, and from the viewpoint of multilateral trade, not trade between the two countries,” — said at a press conference ahead of the meeting, the Vice Prime Minister, Minister of Finance of Japan Taro ASO.
The Agency Kyodo, citing a draft joint statement of the financial “twenty” also reports that in the document following the meeting is expected to include a proposal to intensify the development of new rules for the taxation of multinational digital giants, such as Amazon, Apple, Facebook and Google.
Resolution of disputes
The situation around trade disputes between Washington and Beijing is the center of attention for a long time, and its impact on global economy worries the leadership of most countries. In Fukuoka in addition to discussions with heads of Finance ministries and Central banks of all the “twenty” is also expected to have several bilateral meetings. In particular, the Secretary of the Treasury Steven Mnuchin have to meet with the President of the people’s Bank of China (the Central Bank) And Gunn.
In addition, Mnuchin scheduled talks with Taro ASO. After his refusal to participate in the TRANS-Pacific partnership (TPP) the US is trying to persuade Japan to sign a bilateral trade agreement. Washington aims to balance bilateral trade, as imports of Japanese goods in the US is much higher than the us exports to Japan.
The US President Donald trump has repeatedly expressed dissatisfaction with the enormous trade deficit with China. May 10, U.S. duties were once again increased from 10% to 25% against Chinese products worth $200 billion trump also instructed to begin the process of raising tariffs on Chinese goods another $300 billion of Their actions, the U.S. side explained that Beijing departs from the agreements reached earlier consultations on trade issues.
In response, the government of China from 1 June imposed duties in respect of more than 5 thousand commodity items from USA for a total of $60 billion
The meeting place
Fukuoka is located on the South-West of Japan in the Northern part of the island of Kyushu. Its population is about 1.6 million. The city is considered one of the most actively developing in Japan. The proportion of young people and the birth rate was above average for Japan.
Fukuoka repeatedly fell in the rankings of the most liveable cities in Asia. Also it is actively developing business in the city is concentrated a large number of different startups.
Because of its proximity to the Korean Peninsula, Fukuoka during its existence, played the role of “gate” in Asia. In the city there are many temples and other monuments.
Japan’s first chair of the “group of twenty”. During the year in various cities across the country held a number of Ministerial meetings. The summit of G20 leaders will take place on 28 and 29 June in Osaka. As expected, in particular, will visit Russian President Vladimir Putin, the leader of China XI Jinping and U.S. President Donald trump.
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