New multilateral, open trading system key to global economic recovery: Al-Qasabi

The need for an open, fair and rules-based multilateral trading system is essential to support the global economy that is negatively impacted by COVID-19, Saudi Press Agency reported, citing Minister of Commerce and Investment, Majid Al-Qasabi.

“We hope that the worst days of the pandemic are over. Some industries are gradually recovering, while others are still suffering from the repercussions of the epidemic,” Al-Qasabi added during the meeting of G20 commerce and investment ministers.

He also indicated that the measures taken by the trade and investment ministries at their emergency meeting in May helped maintain the supply of commodities and key services while eliminating deaths during the pandemic.

The coronavirus pandemic badly impacted economies and significantly hit conventional investment and commercial activities, the minister noted.