Mon, May 16, 2022 @ 19:33 GMT
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EU to push reform of three WTO functions in upcoming G20 summit

Defending multilateral rules-based international order would be a focus of EU in the upcoming G20 summit in Argentina later this week. European Commission President Jean-Claude Juncker and European Council President Donald Tusk outlined the key issues in a joint letter today, including global confidence, fair globalisation and trade, climate change, Africa-Europe Alliance etc.

On trade, they warned that “the rules-based multilateral trading system is facing a deep crisis” and the “entire system” is at risk. They also criticized that “the longstanding G20 commitments to keep markets open, to fight protectionism and support the multilateral trading system, risk becoming empty words.”

EU will promote “a positive trade agenda, including the reform of the three functions of the World Trade Organisation (negotiating, monitoring and dispute settlement functions”. And it urged that “G20’s support can be instrumental in providing political impetus to the trade discussions in Geneva”.

EU’s “Facts and figures about the European Union and the G20” booklet here.

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