The G20 trade and investment ministers and the host countries affirmed that immediate measures will be taken to facilitate the movement of trade in essential products, support the availability of medical supplies and pharmaceuticals, and enable access to them at reasonable prices and in a fair manner so that they reach those who need them most as quickly as possible, by encouraging additional production through targeted incentives and investments in line with national circumstances. This came in a statement following the virtual meeting held by the G20 trade and investment ministers yesterday, with the aim of assessing the impact of the COVID-19 pandemic on trade and investment.
The ministers noted that the crisis is a global challenge that requires a coordinated response, in which ranks are united and efforts are combined to confront this common threat, stressing that the time has come for the international community to work more than ever to redouble coordination and cooperation to protect human life and lay the necessary foundations for a strong economic recovery and sustainable, balanced and inclusive growth after this crisis.
In their statement, the ministers said the pandemic is a global challenge requiring a coordinated global response. Accordingly, following the conclusion of the extraordinary virtual summit, the G20 leaders pledged to unite and join forces to confront this common threat, noting that they would "begin monitoring and assessing the impact of this pandemic on trade, in fulfillment of the mandate given to us by our leaders."
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