NAPLES – “It is an important year for Italy, with the presidency of the G20 our country is at the center of the discussion on the main issues of the international agenda”. Foreign Minister Luigi Di Maio writes on Facebook before opening the meeting of the ministers responsible for international trade of the G20 underway in Sorrento (Naples).
“After having chaired the G20 Foreign and Development of Matera last June, today I will chair the G20 of Commerce in Sorrento: Sustainable development, innovation, response to the pandemic and relaunching the economy. Italy – adds the owner of the Farnesina – can really be the engine of the restart, we must be aware of it and give our best ”.
The meeting is structured in three sessions and will cover six topics. THEThe G20 will discuss improving the commercial system’s ability to respond to public health emergencies by leveraging existing initiatives in the WTO. At a second meeting, ministers will discuss how to foster transparency and dialogue: the G20 could provide political impetus for concluding negotiations on fisheries subsidies.
The discussion on services and investments will focus on promoting digital commerce, reducing the costs of trading in services and the opportunity to adopt transparent, predictable and efficient regulatory and administrative frameworks for investments. Support for the participation of SMEs in world trade is also under discussion.
The G20 will therefore address the question of the transparency of government support interventions in the economy, to understand the complex effects on global markets, at a time when the cost / opportunity of scarce public resources needed to address short- and long-term challenges are high.
Di Maio, opening the works, remarked there‘commitment to “build better for a sustainable recovery” that is “inclusive and resilient, which goes hand in hand with the need to strengthen the multilateral trading system with the World Trade Organization at its core ”. At the end of the meeting, the minister will hold a press conference, scheduled to start at 5 pm.