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G20 ministers vow cooperation to mitigate COVID-19 impact

Published : 14 May 2020, 22:14

DF-Xinhua Report

G20 Trade and Investment Ministers Virtual Meeting on COVID-19 in Riyadh, Saudi Arabia, March 30, 2020. File Photo G20 General Secretariat of Saudi Presidency/Handout via Xinhua.

Group of 20 (G20) trade and investment ministers vowed on Thursday to cooperate to mitigate the impact of COVID-19 pandemic on trade and investment.

In a statement released after the second extraordinary virtual Trade and Investment Ministerial Meeting on Thursday, the officials endorsed the "G20 Actions to Support World Trade and Investment in Response to COVID-19" prepared by the Trade and Investment Working Group.

The short-term responses of the Actions aim to alleviate the impact of COVID-19, while the long-term actions support the necessary reform of the WTO and the multilateral trading system, the statement said.

The ministers highlighted dedication to contribute to laying a solid foundation for global economic recovery based on a strong, sustainable, balanced and inclusive growth.

The officials also welcomed the international organizations' efforts to provide an in-depth analysis of the impact of COVID-19 on world trade, investment and global supply chains.