Saudi Gazette report

RIYADH — The Trade and Investment Working Group (TIWG) led the Riyadh Initiative Workshop on June 25 followed by a two-day virtual TIWG meeting on Sunday and Monday (June 28-29) to advance key trade and investment priorities.

The Riyadh Initiative Workshop addressed strategic questions that frame the discussion on the future of the World Trade Organization (WTO).

The workshop facilitated ways to identify common ground of objectives and trade policy principles that can provide a foundation for WTO reform discussions and provide political support.

The TIWG meeting focused on recent trade and investment trends and developments, as the COVID-19 pandemic continues to cause disruptions to global supply chains.

G20 Trade and Investment Ministers announced the G20 actions to support world trade and investment in response to COVID-19 in May and the TIWG played a key role in the implementation and tracking of these actions with the aim of supporting the multilateral trading system, building resilience in global supply chains, and strengthening international investment.

The TIWG will meet again ahead of the Trade and Investment Ministers’ Meeting in October as they continue to progress on the Riyadh Initiative and the G20 Actions.