Trade ministers from the Group of 20 major economies convened an extraordinary video conference on Monday to address the hit from the coronavirus pandemic on global trade and assess how to overcome disruptions to supply chains.
G20 leaders last week pledged to inject more than $5 trillion into the global economy to limit job and income losses caused by the coronavirus.
They said they will ensure the flow of vital medical supplies and other goods and resolve supply chain disruptions caused by border closures by national governments eager to limit transmission of the virus.
But they stopped short of calling for an end to export bans that many countries, including France, Germany and India, have put in place on medicines and medical supplies. The lack of protective equipment is putting doctors and nurses at risk.
Many countries rely on China, the original source of the outbreak, for drug ingredients, and are now struggling to avoid shortages after lockdown measures caused by the epidemic delayed supplies and shipments.
Supply chains are moving backwards as air freight capacity dwindles and companies struggle to find enough truck drivers and transport crews. Europe and the United States are short tens of thousands of containers. Shippers are struggling with crew shortages and quarantine at ports. Agriculture also faces disruption.
A statement was expected after the ministerial meeting, to which representatives from the World Health Organization, World Trade Organization and Organization for Economic Cooperation and Development were also invited.
Japan's trade minister told counterparts from other countries that the public and private sectors should try to avoid closing supply chains to allow for an early resumption of economic activities.
“It is extremely important to meet medical and daily needs internationally to overcome the crisis and restore economic activities when the coronavirus outbreak comes to an end,” Hiroshi Kajiyama said in a statement.
Yousef Al-Benyan, chairman of Saudi Business 20, which engages the global business community, told Reuters that the coronavirus crisis has proven the importance of cross-border trade, which he says will be vital to economic recovery.
Each G20 state must “meet local requirements, but this must not compromise the good status of global free trade, which will benefit everyone”, he added.
Source: Notícias Agrícolas
