UK calls for progress in reforming global trade rules at G20

Dr Liam Fox, International Trade Secretary, is attending the G20 Ministerial meeting on Trade and Digital Economy in Tsukuba, Japan this weekend (Saturday 8 to Sunday 9 June).

Top of the UK Government’s agenda will be addressing global trade tensions and seeking a resolution to issues around the WTO Appellate Body.

The WTO Appellate Body resolves global trade disputes in a fair and transparent way, however it now faces significant challenges including the pace of decision-making and the stalemate in the appointment of Appellate Body members.

Dr Fox will also be encouraging countries to ensure the global trading system is fit for the 21st century for example by making progress in creating new rules for digital trade.

International Trade Secretary Dr Liam Fox said:

The UK is one of the strongest defenders of the international rules-based system and we will continue to champion a strong, forward-looking approach to reform the World Trade Organization.

Top of my agenda at the G20 meeting this weekend will be addressing global trade tensions, seeking a resolution to issues around the WTO Appellate Body, and making real progress on digital trade rules that are fit for the 21st century.

With the global economy facing significant headwinds, now is the time for governments to come together to ensure a predictable and transparent environment for businesses to trade and invest in each other’s economies. This is crucial the shared prosperity of billions of people around the world.

During their discussions, Trade ministers will be considering recommendations made by the B20 international business group, which is comprised of businesses representatives from G20 countries.

Following a summit in Tokyo in March, the B20 has called on the G20 to renew their commitment to the rules-based trading system and to update the global trade rules so they work better for today’s economy and help all countries to develop.

The CBI represented the UK at the Tokyo Summit and led a delegation of British businesses, including BT and Diageo.

NewsDesk

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