Roundup: G7 summit highlights downside risks, counter-terrorism efforts

Global economic growth is an "urgent priority" that should be enhanced with "all policy tools," and joint efforts would be made to combat terrorism and climate change, said leaders of the Group of Seven (G7) industrialized nations after wrapping up a two-day summit on Friday.

In a joint declaration adopted at the summit, G7 leaders reiterated that while global recovery continues, growth remains moderate and uneven, and downside risks to the global outlook have increased.

"Escalated geo-political conflicts, terrorism and refugee flows complicate the global economic environment," it said, adding that Britain's possible exit from the EU would reverse the trend toward greater global trade and investment, and is a further serious risk to growth.

The leaders pledged to strengthen economic policy responses in a cooperative manner and to employ a more forceful and balanced policy mix in order to swiftly achieve a strong, sustainable and balanced growth pattern.

The declaration highlighted the need to strengthen global demand and address supply constraints while continuing efforts to put debt on a sustainable path. It also called for all countries to refrain from competitive devaluation. A stable and resilient international financial architecture is critical for economic growth, it said.

But the summit failed to come up with detailed action plans on bolstering growth, only noting that the G7 member states should act "individually and collectively."

On countering terrorism, the G7 leaders "strongly condemn terrorism in all forms and manifestations ... terrorist organizations pose serious challenges to peace and international security." France, a G7 member, and Belgium were attacked by militants related to the Islamic State, which also launched attackes in other countries.

The leaders called on the international community to "make further collective and coordinated efforts to fight this urgent global security threat" and "support a strong model of UN leadership" on the issue.

The G7 countries reaffirmed that non-proliferation and disarmament issues are among their top priorities. "We reaffirm our commitment to seeking a safer world for all and to creating the conditions for a world without nuclear weapons in a way that promotes international stability," it said.

However, prior to the summit when explaining its stance over nuclear weapons, the Japanese government said the country's war-renouncing constitution does not ban Japan from possessing nuclear weapons and weapons of mess destruction.

On the climate change, the G7 vowed to "take the necessary steps to secure ratification, acceptance or approval" of the Paris Agreement as soon as possible and called on all parties "to do so striving for a goal of entry into force in 2016."

The leaders also emphasized that the energy sector should be focused and they are determined to accelerate their works toward the transition to an energy system that enables a de-carbonization of the global economy.

The seven countries - Britain, Canada, France, Germany, Italy, Japan and the United States - also discussed issues of food security, nutrition and sustainable development in the next decade and other regional and global issues.

The next G7 summit will be held in 2017 in Italy. Endit