G20 leaders support WTO reform

Participants in the Group of Twenty (G20) summit in India in the final declaration called for reform of the World Trade Organization (WTO). About this with reference to the document writes TASS.

It said G20 leaders reaffirm the need to reform the WTO “to improve all its functions” and to create a “fully functioning dispute settlement system accessible to all members” by 2024.

G20 countries also stressed that they see the need to ensure a “level playing field and fair competition by countering protectionism and anti-market practices to create a favorable trade and investment climate for all” market participants.

On the adoption of the final declaration at the summit in New Delhi earlier reported Indian Prime Minister Narendra Modi. Consensus like notes Reuters, came as a surprise because there are “deep disagreements” among G20 participants over the situation in Ukraine. Previously, the agency writes, Western countries insisted on a strong condemnation of Russia, while other states called for “focusing on broader economic issues.”

In addition to calling on the G20 leaders for all countries to comply with the “principles of international law, including territorial integrity and sovereignty,” the summit participants declared the inadmissibility of “the use or threat of use of nuclear weapons.”

In addition, G20 leaders agreed to address debt vulnerability in low- and middle-income countries in an “effective, comprehensive and systematic manner.” The document also talks about increasing efforts to phase out coal energy. According to Reuters, the declaration also calls for the restoration of the grain deal.

The G20 meeting is taking place in New Delhi on September 9-10, with Russia represented at the summit by Foreign Minister Sergei Lavrov. On September 8, the Russian Foreign Ministry reported that the G7 countries are putting pressure on India, wanting to reflect unilateral approaches on the situation around Ukraine in the final documents of the G20 summit.