Media ININ Economy We Trust
Riyadh, March 31, 2020 SPA
The Trade and Investment Ministers of the G20 held a virtual meeting yesterday, after the hypothetical meeting of the Extraordinary Leaders Summit to confront the Corona Virus (Covid 19), under the presidency of the Kingdom of Saudi Arabia for the Group of Twenty, with the aim of discussing the impact of the Corona pandemic on international trade and investment and assessing its effects pursuant to the guidance issued by the leaders ’statement G20.
His Excellency the Minister of Commerce, Dr. Majid Al-Qasabi, opened the virtual meeting, highlighting this human crisis that the world is facing in the current period, and the resulting economic decline that was not unprecedented since 2008, and that the members of the G20 together possess “tools that will change the course of This crisis “and emphasized the urgent need for more” coordination and cooperation at the highest levels, along with appropriate preventive measures to mitigate the impact of this pandemic on health, the global economy, trade and investment. ”
During the meeting, the group’s trade and investment ministers discussed possible ways to restore confidence in trade and investment, and unanimously agreed to continue dialogue and exchange of experiences, to facilitate the movement of the flow of supply chains for medical devices and basic food and agricultural products and other basic services and services across borders, and that contingency precautions to combat the Corona pandemic (Covid-19) is balanced, transparent and temporary; working together to provide a free, fair, non-discriminatory and predictable trade and investment environment.
The G20 ministers of trade and investment also pledged to comply with the statement made by the leaders of the G20, which is to double coordination and cooperation between members of the G20 and relevant international organizations to reduce the widespread effects of the Corona pandemic (Covid 19).
His Excellency the Minister of Commerce concluded the meeting by stressing the need to strengthen cooperation between the twenty countries in tackling the COVID-19 epidemic, and highlighted the importance of careful monitoring of how the situation developed, and meeting again as necessary to agree on other measures. At the end of the meeting, member states agreed and supported the issuance of the ministerial statement of this meeting, which confirms to the world the resolve of the G20 countries to mitigate the effects of COVID 19.
The meeting commended the Kingdom’s tangible efforts in chairing and managing the Group of Twenty (G20) emerging crisis.
