Monday, 30th October 2017

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Coronavirus outbreak: G20 builds consensus

The ministers also called for working together for a free and fair international trade

  • Published 1.04.20, 12:58 AM
  • Updated 1.04.20, 12:58 AM
  • a min read
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The trade and investment ministers of the group in a video-conference said they would take immediate measures to facilitate the trade in essential goods and ensure the smooth operation of the logistic networks that beef up the global supply chain. (Shutterstock)

The G20 economic club — comprising 19 leading economies of the world and the EU, including India — on Tuesday pledged to facilitate the seamless movement of essential goods across borders and crank up the global supply chain, groaning under the Covid-19 pandemic. The trade and investment ministers of the group in a video-conference said they would take immediate measures to facilitate the trade in essential goods and ensure the smooth operation of the logistic networks that beef up the global supply chain. The meeting also stressed on monitoring the pandemic and its impact.

The ministers have agreed to ensure fair trade and continued flow of vital medicines as well as other essential goods to tackle Covid-19 pandemic.

According to a joint statement issued after a video conference, the ministers agreed to support the availability and accessibility of essential medical supplies at affordable prices, on an equitable basis, where they are most needed and will guard against profiteering and unjustified price increases.

The ministers also called for working together for a free and fair international trade.

“As we fight the pandemic both individually and collectively and seek to mitigate its impacts on international trade and investment, we will continue to work together to deliver a free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open.

“We are actively working to ensure the continued flow of vital medical supplies and equipment, critical agricultural products, and other essential goods and services across borders, for supporting the health of our citizens,” the statement said.

The ministers stated that they will take immediate necessary measures to facilitate trade in those essential goods.