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Putting trade and investment at the center of the G20

Published on February 22, 2016

It might not have made the leading global headlines but, three weeks ago, there was a significant new development in global governance of trade and foreign investment. In Beijing, China convened the first meeting of a new working group in the G20 to pursue initiatives in these areas: the G20 Trade and Investment Working Group (TIWG). Over two days, officials from G20 members and invited governments, along with the World Bank Group and other international organizations, discussed the future direction of trade and investment in the G20.
 
This is a promising step. There is no doubt that the G20 can have an impact in this area. The G20 accounts for three-quarters of world trade; half of global inward Foreign Direct Investment (FDI) and two-thirds of global outward FDI; and 80 percent of global output. Actions taken by the G20 also have a clear impact on developing countries outside the G20, with around 70 percent of non-G20 developing-country imports coming from the G20 countries, and around 80 percent of those countries’ exports directed to the G20. Read more. Source | The Trade Post | World Bank blog