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