WTO reform among Brazil's priorities at G20
During its inaugural technical meeting this week, the G20 Trade and Investment Working Group unveiled the priority issues outlined for the sector under Brazil's rotating presidency of the G20, a forum that encompasses the world's 19 largest economies, alongside the African Union and the European Union.
The meeting with representatives of the G20 member countries was conducted via videoconference and concluded on Tuesday morning (Jan. 30). Brazil highlighted four priorities: developing trade policies related to sustainable development in environmental and social domains; mapping sustainable development clauses in investment agreements; enhancing women's participation in international trade by identifying their main access barriers; and reforming the World Trade Organization (WTO).
WTO reform
In addressing the necessity to reform the WTO, Ambassador Fernando Pimentel, Director of the Trade Policy Department at the Brazilian Ministry of Foreign Affairs, noted a consensus among G20 member countries. However, he highlighted differences in their positions regarding the aspects to be considered during the organization's modernization.
According to the ambassador, a crucial pending matter for Brazil is the complete reinstatement of the WTO's multilateral Dispute Settlement System by year-end. This system is vital for upholding members' rights and obligations and delineating the scope of WTO agreements.
The ambassador highlighted that discussions within the G20 can advocate for WTO reform. "In the G20, we are just a group of countries. The WTO, on the other hand, is a much larger organization where decisions are made by consensus. While we cannot impose anything, we can strive to address specific issues and provide political impetus to ensure the ongoing modernization of the WTO."
Women in international trade
"International trade generates wealth, contributes to poverty reduction, and creates better quality, higher-paying jobs. In other words, expanding the benefits of trade to more groups in society who do not yet benefit from it is something that drives us and the Brazilian presidency, which has made this issue a priority," said Tatiana Prazeres, Foreign Trade Secretary at the Ministry of Development, Industry, Trade and Services (MDIC).
According to her, sharing information and exchanging best practices during the group's technical meetings could improve the participation of women in international trade.
Ambassador Fernando Pimentel stated that, to promote women's participation in international trade, a seminar is planned for 2024 under Brazil's rotating presidency of the G20. The seminar will involve two engagement groups from the so-called Social G20: the Business 20 (B20), which links approximately 900 business leaders with G20 governments, and the Women 20 (W20), dedicated to advancing gender equality and women's economic empowerment.
Trade and Investment
The G20 Trade and Investment Working Group is one of 15 groups comprising the Sherpas Track, led by envoys from G20 leaders. This group is tasked with leading discussions, overseeing negotiations and agreements that will shape the agenda for the final summit with heads of state and government, scheduled for November 18 and 19 in Rio de Janeiro.
The name "Sherpas" refers to an ethnic group from the mountainous region of Nepal. These leaders guide climbers aiming to reach the top of Mount Everest, the highest mountain on Earth.
Under Brazil's rotating presidency, the annual calendar of activities for the G20 encompasses over 120 events across various host cities. The upcoming technical meeting of the G20 Trade and Investment Working Group is scheduled for April 24 and 25 in Brasília.
