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MIL OSI Translation. Region: Russian Federation –

Source: Ministry of Economic Development (Russia) – An important disclaimer is located at the bottom of this article.

Representatives of the Trade Negotiations Department of the Russian Ministry of Economic Development took part in the second meeting of the G20 Working Group on Trade and Investment, which was chaired by Brazil on April 24-25 in Brasilia.

The central topic of the meeting was the discussion of steps to implement the decisions taken at the 13th Ministerial Conference of the World Trade Organization held in Abu Dhabi in February this year. Experts expect to intensify discussions on key negotiating areas – reform of the dispute resolution body, work program on agriculture, fishing subsidies.

A significant part of the discussion was devoted to the relationship between trade and sustainable development, including in the context of assistance to the economic development of countries. Participants discussed the potential effects that trade measures could have on all three pillars of sustainable development – economic, social and environmental. According to the position of Russian representatives, maintaining the multilateral trading system based on the rules of the World Trade Organization is necessary to achieve sustainable and inclusive development. Compliance with these rules is essential to ensure a transparent and predictable trading environment.

“WTO-contrary unilateral trade restrictions, such as the EU’s CPUM, are destroying the multilateral trading system. G20 members should focus on trade practices that are truly aimed at achieving sustainable development: measures aimed at facilitating trade in agricultural products, or measures to ensure technological neutrality in the “green transition,” the Russian delegation noted.

Members of the Working Group also discussed the practice of including provisions on sustainable development in investment agreements. They noted that such provisions are a new trend that is beginning to gain popularity. Most group participants agreed that the introduction of such provisions into investment agreements requires finding a balance between simplifying investment procedures and preserving the right of the state receiving investments to defend its interests in the areas of ecology, life and health of people. According to Russian experts, it is also important to avoid the risk of taking hidden protectionist measures under the pretext of achieving sustainable development.

Experts raised the issue of increasing women’s involvement in global trade. This may be facilitated by current conditions in global markets, such as the growth of the services sector, the spread of new technologies and the growth of e-commerce.

These topics are expected to be on the agenda at the G20 Trade and Investment Ministers’ meeting, which will take place on October 24 in Brasilia. The work of the Group will continue over the next two meetings with a view to drawing up and adopting final documents for the Ministerial Meeting.

Note; This information is raw content directly from the source of the information. This is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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