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G-20 ministers seek to boost trade at Mexico meeting

Update: April, 20/2012 - 11:22

PUERTO VALLARTA, Mexico – Trade ministers from the Group of 20 leading and emerging economies met with business leaders on Mexico's Pacific coast on Thursday to discuss measures to increase international commerce.

"Global Trade and investment were, over the past decade, critical to contributing to prosperity and peace," said Martin Senn, president of the Zurich Financial Services Group, at the start of the two-day meeting.

Business leaders from the so-called B20 group called on the G-20 ministers to make investment in trade a permanent part of their agenda, to avoid measures harming trade and to strengthen the role of the World Trade Organisation (WTO), as economies worldwide deal with the impact of Europe's debt crisis.

Nineteen trade and economy ministers, including from China, Turkey, Australia and South Korea, were taking part in the gathering of G-20 nations and five invited countries in the resort city of Puerto Vallarta.

They were joined by the heads of the WTO and the Organisation for Economic Co-operation and Development (OECD), Pascal Lamy and Jose Angel Gurria respectively.

The Mexico meeting comes ahead of a G-20 summit in the Pacific resort of Loss Cabos, northwest Mexico, in June. -- AFP

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