Last reviewed 6 April 2021
Chairing the first-ever G7 Trade Track Ministerial meeting. International Trade Secretary Liz Truss set out an ambitious agenda to work with G7 countries and the new Director General of the World Trade Organization (WTO) to reform global trade.
As President of the G7, she explained, the UK will push for reform of the WTO so that the organisation is fit to challenge unfair trading practices as well as ensuring trade helps to tackle climate change.
Trade Ministers from Canada, France, Germany, Italy, Japan, the United States, the UK and the EU were joined at the virtual meeting by the newly-appointed Director-General of the WTO, Dr Ngozi Okonjo-Iweala.
Ms Truss said: “Our G7 alliance of like-minded democracies is united not just in its fundamental values, ranging from freedom and fairness to the environment and innovation. It is also united in its fierce belief that the best way forward for us all lies in trade.”
As well as WTO reform, the Trade Secretary said that she would also be working with G7 partners, including new US Trade Representative Katherine Tai and the WTO Director-General, to fight for more women to be represented in trade.
The next G7 Trade Ministerial meeting is due to take place in-person in May.
In the meantime, the UK will encourage G7 partners to develop a set of principles for digital trade, underlining the common goals of Trade Ministers around open digital markets and the fight against protectionism.
It will also seek to champion the cause of values-driven free trade and work with G7 partners to challenge practices that distort markets. The group will also discuss how to make global trade greener.