The Ministers of trade and investment «East» (G20) on Thursday agreed to contribute to the reform of the world trade organization (WTO), said in a statement on outcomes of their virtual summit, organized by the Ministry of Commerce of Saudi Arabia.
«it Must promote the reform of the WTO to improve its activities and supporting the role of the multilateral trading system in ensuring the stability and predictability of international trade flows», — said in a statement.
The participants also agreed to aim to increase the transparency and notify the WTO of any foreign trade measure adopted in accordance with the obligations of countries in this organization.
They also agreed to work together to provide «free, fair, transparent, predictable and stable trade and investment environment, as well as to keep open the markets».
Saudi Arabia — the President «Big twenty» this year, and due to the spread of the coronavirus various Saudi ministries will organize a Ministerial meeting in the framework of the working group via videoconference.