The G7 Summit in Apulia, Italy, concluded with US President Joe Biden and the G7 leaders taking decisive action on the following topics:
*Upholding the UN Charter, fostering international peace and security, and maintaining a free and open rules-based international order.
*Providing unified support for President Biden’s proposed comprehensive deal aimed at achieving an immediate ceasefire in Gaza, the release of all hostages, a substantial and sustained increase in humanitarian aid throughout Gaza, and a lasting resolution to the crisis, while ensuring Israel’s security interests and the safety of Palestinian civilians in Gaza.
*Collaborating with African partners to bolster global stability and prosperity, and has endorsed African countries’ demands for greater representation in international organisations.
*Reaffirming their strong support for Ukraine, sending a clear message to Russian President Vladimir Putin. They announced a plan to provide Ukraine with $50 billion in new financing, utilising interest earned on immobilised Russian assets. The US will work with Ukraine and G7 partners to finalise the financing details and issue the loan by the end of the year.
*Collaborating to address non-market policies and practices, as well as efforts to dominate strategic sectors. This includes enhanced monitoring, information-sharing, and updating of toolkits to counter such practices effectively. Additionally, efforts will be coordinated to deter and respond to economic coercion.
*Bolstering resilient supply chains and reduce critical dependencies, the G7 plans to work with partners in developing countries and emerging markets, fostering their participation in global supply chains while upholding high standards.
*President Biden highlighted the United States’ strong engagement in the Indo-Pacific to reinforce alliances and partnerships, and acknowledged the growing connectivity between European and Indo-Pacific partners. G7 leaders emphasised the significance of peace and stability in the Taiwan Strait and raised concerns about the PRC’s provocative actions in the South China Sea.
*The Biden Administration also imposed new sanctions and export control measures to increase pressure on Russia, targeting foreign banks, individuals, and entities in Russia and globally. Certain U.S. software and technology services will also face restrictions.
* President Biden and Ukraine President Zelensky signed the U.S.-Ukraine Bilateral Security Agreement to deepen security and defence cooperation, demonstrating enduring U.S. support for Ukraine.
*President Biden urged the G7 to take additional measures to safeguard workers, industries, and investments from being undermined by what they say is unfair practices by the People’s Republic of China.
Furthermore, measures are being updated to protect critical and sensitive technologies from being exploited to undermine international peace and security. This includes strengthening cooperation on research security, data security, and investment screening, in addition to streamlining the implementation of export controls.
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