“The commitment to mitigate the impact of pandemic of Covid-19 on trade and investments aimed at ‘build back better’ (ndr) for a sustainable, inclusive and resilient recovery coincides with the need to strengthen a rules-based, non-discriminatory and transparent multilateral trading system, with the WTO at the center“explained a statement.
The meeting of foreign ministers is proposed as a “springboard” for a positive outcome of the 12th WTO Ministerial Conference, which will take place in Geneva from November 30 to December 3.
Among the main topics on the meeting’s agenda is the relationship between trade and health, in light of the pandemic “which evidenced the importance of ensuring the resilience of global supply chains for medical and pharmaceutical products,” the statement explained.
In addition, the G20 in Italy “could give a political impetus to the conclusion of the negotiations on fisheries subsidies, a fundamental step in terms of trade and environmental sustainability.”
Finally, “support for the participation of SMEs in world trade, taking into account current and future challenges, including the ongoing ecological and digital transition. “
In this sense, Di Maio stressed that it is essential to strengthen trade multilateralism.
In the aftermath of the pandemic, “the commitment to build better for a sustainable, inclusive and resilient recovery goes hand in hand with the need to strengthen the multilateral trading system,” he said.
He argued that this practice mitigated the effects of the pandemic.
“Despite the impact of Covid-19 on the world economy, the multilateral trading system was a source of stability and contributed to mitigating the repercussions of the pandemic,” he concluded.
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