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G-20 Trade ministers agree to enhance supply chain resilience

The agreements include continuing discussions to reform the dysfunctional World Trade Organization. (AFP)
The agreements include continuing discussions to reform the dysfunctional World Trade Organization. (AFP)
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25 Aug 2023 09:08:20 GMT9
25 Aug 2023 09:08:20 GMT9

Jaipur: Trade and investment ministers of the Group of 20 advanced and emerging economies broadly agreed Friday to work on enhancing the resilience of cross-border supply chains.

The ministers finished their two-day meeting in Jaipur in the northwestern Indian state of Rajasthan by agreeing on almost all topics on the table. An outcome document was released by India, this year’s G-20 president.

The agreements include continuing discussions to reform the dysfunctional World Trade Organization. The ministers also confirmed the importance of eliminating obstacles hampering the expansion of trade opportunities for small companies.

The ministers, however, failed to agree to denounce Russia’s invasion of Ukraine, as was the case at other G-20 ministerial meetings.

With China in mind, Japanese State Minister for Foreign Affairs Kenji Yamada told the meeting that countries should not implement coercive or nonmarket measures, according to Yamada.

Yamada also had a bilateral meeting with China. He protested the country’s blanket import ban on fishery products from Japan and demanded that the ban be lifted immediately.

Beijing took the action in response to Japan’s release of treated water from Tokyo Electric Power Company Holdings Inc.’s disaster-stricken Fukushima No. 1 nuclear power plant into the Pacific Ocean. The discharge of the water, which still contains tritium, a radioactive substance, began on Thursday.

JIJI Press

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