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G-20 Summit begins in Rome

US President Joe Biden and other leaders are expected to make remarks on the first day as participants will discuss rising energy prices amid a global spike in demand for natural gas, as well as new international rules on taxation to prevent tax avoidance by multinational corporations. (AFP)
US President Joe Biden and other leaders are expected to make remarks on the first day as participants will discuss rising energy prices amid a global spike in demand for natural gas, as well as new international rules on taxation to prevent tax avoidance by multinational corporations. (AFP)
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30 Oct 2021 08:10:57 GMT9
30 Oct 2021 08:10:57 GMT9

ROME: A two-day meeting of leaders from the Group of 20 advanced and developing countries began in Rome on Saturday.

US President Joe Biden and other leaders are expected to make remarks on the first day as participants will discuss rising energy prices amid a global spike in demand for natural gas, as well as new international rules on taxation to prevent tax avoidance by multinational corporations.

On the second day, the G-20 leaders will discuss mainly climate change, after which they will aim to adopt a joint statement.

It is the first in-person G-20 summit since the 2019 meeting in Osaka, western Japan. Japanese Prime Minister KISHIDA Fumio  will be participating online.

Rising gas prices are believed to be fueled mainly by the global economic recovery from the novel coronavirus crisis.

The G-20 leaders are expected to talk about the importance of maintaining a good balance between energy supply and demand.

On international corporate taxation rules, they are seen supporting the agreement already formed by G-20 ministers. The agreement involves setting a common minimum corporate tax rate of 15 percent and introducing a digital tax on information technology giants that operate across borders.

The leaders will also debate about the fair distribution of coronavirus vaccines and related aid for developing countries.

In a communique issued after their joint meeting in Rome on Friday, the G-20 finance and health ministers said, “The COVID-19 pandemic continues to have profound impacts worldwide.” They reaffirmed their support to “all collaborative efforts” to ensure that 70 percent of the global population can be vaccinated by the middle of 2022.

JIJI Press

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