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Jordan participates in G-20 working group meeting

By JT - Jun 30,2020 - Last updated at Jun 30,2020

AMMAN — The Jordan Investment Commission (JIC), represented by its Chairman Khaled Wazani, on Tuesday participated in the second meeting of the Trade and Investment Working Group (TIWG) of the G-20 Summit, which was held via videoconference at the invitation of Saudi Arabia.

The meeting, headed by Saudi Arabia, witnessed the participation of 67 representatives of G-20 countries, international institutions, the Gulf Cooperation Council and the Hashemite Kingdom of Jordan, according to a JIC statement.

During the meeting, issues related to investment and trade were addressed, including the Riyadh initiative for the future of the World Trade Organisation, global developments in trade and investments in light of the COVID-19 pandemic, support for the competitiveness of micro, small- and medium-sized enterprises and means of diversifying global economies and strengthening global investments.

Wazani praised the “quality role” played by Saudi Arabia in organising the session and the topics raised, as well as the information and knowledge gained from exchanging ideas on the issues presented.

He stressed Jordan’s support for the Riyadh initiative in establishing a set of ideas on the development of a dispute settlement mechanism within the World Trade Organisation, especially regarding the system of appeal followed in the organisation within the dispute settlement mechanism.

The meeting highlighted the role of G-20 countries and international institutions in supporting capacity building in developing countries in the field of investment promotion and attracting foreign investments within three axes.

These axes centre on improving the framework of investment promotion bodies in developing countries, boosting legislative and institutional frameworks, enhancing transparency and the streamlining of procedures in investment bodies and bolstering partnership and complementarity in the work of investment agencies in neighbouring regions.

The meeting stressed the need for following up and evaluating efforts to promote and attract foreign investments.

Jordan is the only country outside the G-20 participating in the group’s meetings for the current session, at the invitation of Saudi Arabia.

The G-20 consists of Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, Korea, Turkey, the UK, the US and the EU. Its meetings are attended by representatives of various international institutions, and in the current session, the Gulf Cooperation Council and Jordan are also participating.

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