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The global fashion business journal

Sep 27, 20205:40am

G7 asks for a change in the World Trade Organization to benefit fair trade

International trade was one of the discussion points of the leaders of the world’s biggest economies, that met last weekend in Biarritz.

Aug 27, 2019 — 4:11pm
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G7 asks for a change in the World Trade Organization to benefit fair trade

 

 

More fair trade. The G7 leaders compromised to work to change the World Trade Organization (WTO) to improve the protection of intellectual property, to be faster in the solution of disagreement and to be more efficient eliminating bad commercial practices.

 

In its final document, the participants of the G7 Summit, presented this weekend in the French village of Biarritz, agreed to continue working for a more open and fair trade, that guarantees a more stable global economy.

 

The main mandataries of the seven most industrialized economies in the world also committed to negotiate in 2020 a simplification of the reglementary barriers in commercial trades and to modernize the international taxation in the context of the Organization for Economic Co-operation and Development (Oecd).

 

To the G7 Summit heads of states and government of United States, Canada, Germany, France, United Kingdom, Italy and Japan met, as well as the presidents of the European Commission and the European Council.

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