Discussions Begin At G20 Summmit In Osaka

Discussions begin at G20 summmit in Osaka

World leaders gathering in Osaka have begun discussions at the G20 summit. The two-day meeting comes at a time of heightened global tensions, including the ongoing US-China trade war and the friction between Washington and Tehran.

G20 leaders started discussing the global economy and trade.

At the start of the first session, Japanese Prime Minister Shinzo Abe said, "Free and open economy is a cornerstone of peace and prosperity. Concern and dissatisfaction about rapid changes caused by globalization sometimes breed temptation of protectionism and severe conflicts among nations. But exchanges of trade restrictive measures benefit no country."

Leaders are believed to be focusing on how to deal with downward risks -- a major one being trade tension between the United States and China.

The G20 leaders are also expected to talk about promoting free and fair trade, as well as reforming the World Trade Organization.

The summit officially kicked off Friday morning with a welcome ceremony hosted by Abe. The goal of the meetings are to overcome conflicting views and build consensus on a wide range of pressing issues.

But trade is expected to dominate discussions.

One of the most anticipated events is when Donald Trump and Xi Jinping meet on Saturday.

Tensions between the US and Iran will also be a contentious subject.

The situation has been escalating since two tankers were attacked near a key Middle East oil shipping route earlier this month.

The US blames Iran, but Iran denies the accusations.