The World Trade Organization is strongly welcoming the communiqué agreed by G20 leaders at the summit in Buenos Aires, Argentina, and calling on the leaders to act urgently to address the blockage in the WTO dispute settlement system.
Director-General of WTO Roberto Azevêdo said: “The declaration represents a very important moment in tackling the current challenges in global trade. With this statement, the leaders underline the vital importance of trade and of the multilateral trading system in supporting growth, productivity, innovation, job creation, and development.”
He said he has heard firm support for trade and the WTO throughout his meetings with leaders in Buenos Aires and heard a range of ideas about strengthening our work.
“They call for improvements and necessary reforms to the functioning of the WTO to ensure that it can continue playing this essential role. I will work with WTO members to take this forward in the interests of all,” he said.
The declaration agreed by the G20 leaders recognizes the contribution that the multilateral trading system has made to that end. It says the system is currently falling short of its objectives and there is room for improvement. The G20 leaders agree to support the necessary reform of the WTO to improve its functioning. And they will review progress at our next Summit.