Be informed. Be challenged. Be inspired.

G20 ministers agree world trade to foster sustainable development, enhance women’s role

Brasilia, Brazil
Reuters

Ministers from the G20 group of largest economies agreed on Thursday that international trade and investments should foster sustainable development and enhance the participation of women in world trade.

They also agreed on the need to speed up reform of the World Trade Organization to achieve a “faster, more agile and effective,” conflict resolution system, Brazil’s Vice President and Trade Minister Geraldo Alckmin told reporters.


Brazil’s Vice President Geraldo Alckmin speaks during the G20 Trade and Investment Ministerial meeting in Brasilia, Brazil on 24th October, 2024. PICTURE: Reuters/Adriano Machado

The proposals agreed by G20 trade ministers meeting in Brasilia will be proposed to the group’s leaders at the annual summit hosted by Brazil in November in Rio de Janeiro and be annexed to their joint statement.

It is the first time the G20 has addressed the issue of increased inclusion of women in international trade, Alckmin said, adding that Brazilian President Luiz Inacio Lula da Silva had insisted on it becoming a G20 principle.

Brazil, which will host the COP30 climate talks next year, also gave priority to the need to fight climate change and proposed that the G20 should call for trade and investments that encourage environmentally sustainable economic development.



Lula has also made reform of global governance institutions a priority and the ministers agreed to support WTO reform and the strengthening of a multilateral trading system, a Brazilian government statement said.

“We stressed the importance of a rulesbased, non-discriminatory, fair, open, inclusive, equitable, sustainable and transparent multilateral trading system, with the WTO at its core. We will work to ensure a level playing field and fair competition to foster a favorable trade and investment environment for all,” the statement said.

The one-day meeting avoided divisive issues, though members expressed their views on Russia and Ukraine and the situation in Gaza, with some wanting them discussed in the G20 and others saying it was not the right forum, the Brazilian statement said.

“There were disagreements in drafting the texts and things were dropped, but at the end there was consensus on everything, including the proposal on women in international trade,” said an Asian diplomat who attended the meeting.

Donate



sight plus logo

Sight+ is a new benefits program we’ve launched to reward people who have supported us with annual donations of $26 or more. To find out more about Sight+ and how you can support the work of Sight, head to our Sight+ page.

Musings

TAKE PART IN THE SIGHT READER SURVEY!

We’re interested to find out more about you, our readers, as we improve and expand our coverage and so we’re asking all of our readers to take this survey (it’ll only take a couple of minutes).

To take part in the survey, simply follow this link…

Leave a Reply

Your email address will not be published. Required fields are marked *

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.