G20 commerce ministers to discuss trade

G20 Pledges More than $21bn in Virus Fight
G20 Pledges More than $21bn in Virus Fight

The G20 commerce and investment ministers will hold a meeting on Tuesday.

The meeting aims to strengthen cooperation in commerce and investment policies. The minister will discuss way; to help boost growth and promote an inclusive and sustainable economy. They will also discuss steps to prop up the economy that has been badly affected by the coronavirus disease (COVID-19) pandemic.

The meeting will discuss G20 measures to support international commerce and investment in response to the pandemic and means to support reforms for a multilateral trading system.

Following the meeting, Saudi Commerce Minister Dr. Majid bin Abdullah Al-Qasabi and Minister of Investment Khalid Al-Falih will hold a press conference; to brief the media about the meeting.

Saudi Arabia, the chair of the G20 presidency this year; has pledged its commitment to tackling the devastating impact of the pandemic on developing countries and some of society's most vulnerable groups.

To achieve a quick economic response, specifically targeting developing countries, the G20 countries have coordinated with international financial institutions; in order to provide the necessary liquidity to needy countries around the world.  

The group's finance ministers and central bank governors had adopted an action plan in April aimed at supporting the global economy at this critical stage in the health crisis in order to achieve economic recovery as soon as possible.

The Kingdom is set to host the 15th G20 Summit in Riyadh on Nov. 21 and 22.

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