BEIJING– The Group of 20 (G20) economies should work together to ensure stability in global industrial and supply chains, said Minister of Commerce Zhong Shan Monday.
All parties should actively take measures such as reducing or removing tariffs, eliminating trade barriers and facilitating unfettered trade, Zhong said at a video conference on COVID-19 control attended by G20 trade and investment ministers.
Zhong suggested the G20 economies should step up international cooperation on disease prevention and control supplies and protect the life and safety of people and medical workers in all countries.
All parties should uphold an open environment for global collaboration, Zhong said, suggesting the parties keep their markets open and safeguard the multilateral trading system and oppose protectionism.
At the meeting, ministers discussed the global impact of the COVID-19 pandemic and G20’s response. The parties agreed that the pandemic is a tremendous shock to international trade and investment, and that the joint statement of the Extraordinary G20 Leaders’ Summit on COVID-19 should be implemented collectively.
It was agreed that the parties should enhance coordination and cooperation and adopt open trade policies to reduce the impact on global supply chains, facilitate cross-border flow of goods and services and revive the confidence in growth of international trade.
The meeting was chaired by Saudi Arabia, which holds the G20 presidency. After the meeting, the Statement of the Extraordinary G20 Trade and Investment Ministers Virtual Meeting on COVID-19 was issued.