The G-20, under the leadership of the Director-General of the WTO, the Secretary-General of the OECD, and the Secretary-General of UNCTAD, issued reports on trade and investment measures aimed at promoting global economic growth. These reports covered the period from mid-November 2013 to mid-May 2014.
GDP and Unemployment: GDP growth showed some recovery following the downturn, but unemployment remained persistently high.
Merchandise Trade: Global merchandise trade experienced inconsistent growth, with expansions followed by setbacks.
Trade in Commercial Services: The service trade sector also faced similar volatility, reflecting the broader economic dynamics.
Detailed measures were outlined to support economic recovery and growth.
Discussions focused on enhancing trade finance mechanisms to facilitate international trade.
The G-20 reaffirmed its commitment to free trade and investment, extending its standstill pledge to 2016. Despite efforts, the number of trade-restrictive measures remained high, indicating ongoing challenges in global trade liberalization. The reports emphasized the importance of the multilateral trading system in combating protectionism and driving economic growth. Key recommendations included implementing decisions from the WTO's Ministerial Conference in Bali and progressing the Doha Development Round for further trade liberalization. The successful implementation of these strategies would contribute to a more stable global economy and address the persistent threats posed by protectionist pressures.