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G20 Holds TIWG Meeting

The G20 Trade and Investment Working Group held its second virtual meeting on June 28 and 29. The meeting, chaired by presidency Saudi Arabia, was attended by representatives from G20 members, guest countries like Singapore, Spain, Jordan, Switzerland, and international organizations such as the WTO, the World Bank, UNCTAD, and OECD.

Participants had in-depth discussions on the trend of international trade and investment, paths to sharpen the international competitiveness of MSMEs, diversify the economy, and promote international investment. Recognizing the unprecedented challenges posed by COVID-19 to international trade and investment and global economy, the parties believed they should ensure sound implementation of the G20 Actions to Support World Trade and Investment in Response to COVID-19 that was adopted by the extraordinary trade ministers meeting following leaders’ consensus at the G20 Extraordinary Summit. It is imperative to step up coordination and cooperation, firmly defend the multilateral trading system, endorse necessary reform of the WTO, maintain a sound environment for international trade and investment, and lay a solid foundation for world economic recovery.