G20 nations urge fair trade amid supply disruptions

Some G20 members may push for creating a free, fair, inclusive and equitable trade and investment regime amid growing concerns over rising food, fuel and fertiliser prices due to supply disruptions and export curbs, three people aware of the development said adding that it could be one of the key issues at the Leadership Summit held in New Delhi next month.

- Rajeev Jayaswal

High global inflation has hit hard, particularly in vulnerable and least developed countries. (LDCs), and it is therefore a major global concern that needs attention of the G20, which represents around 85% of global GDP, over 75% of global trade and about two-thirds of the world's population, they said, requesting anonymity.

Deliberations on this matter may also take place at the G20 Trade and Investment Ministerial Meeting (TIMM) in Jaipur on Thursday and Friday, and the issue is expected to find a place in the final 'Leaders' Declaration' in New Delhi next month, two of them said.

The G20 Leaders' Summit is scheduled on September 9-10 in New Delhi, where a G20 Leaders' Declaration will be adopted. The declaration states the leaders' commitment towards the priorities discussed and agreed upon during the respective ministerial and working group meetings.