G20 Trade and Investment Ministerial Meeting

by Hans Diederichs

Ministerial Statement – We, the Trade and Investment Ministers of the G20 and guest countries, reaffirm our  determination  to  cooperate and  coordinate to  mitigate  the  impact  of  the COVID-19 pandemic on trade and investment and to contribute to laying a solid  foundation   for   global   economic   recovery   based   on   a   strong,   sustainable, balanced, and inclusive growth. We  endorse the  “G20 Actions  to Support World  Trade  and Investment  in Response to COVID-19”prepared by the Trade and Investment Working Group (Annex). While the short-term responses are designed to alleviate the impact of COVID-19,the long-term actions support the necessary reform of the WTO and the  multilateral  trading  system,  build  resilience  in  global  supply  chains,  and strengthen international investment. We welcome the collective work carried out by the international organizations to provide a consolidated in-depth analysis of the impact of COVID-19 on world trade, investment and global supply chains. We will continue working with these organizations,  within  their  mandates,  to  facilitate  investment  and  flows  of essential goods and services. We  will  continue  monitoring the  situation  closely, assessing the  impact  of  the pandemic on trade, and convene again as necessary. We task the G20 Trade and Investment  Work  Group  to  continue  paying  the  highest  attention  to  these actions  and  to  provide  status  updates  on  the  implementation  of  the  agreed action.

Source and graphic: BMWI

Go back