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Russia suggests G20 set up working group to elaborate new global trade rules

November 30, 22:07 UTC+3

Minister of Economic Development Maxim Oreshkin noted that trade rules are laid down by the WTO but the Group of Twenty can discuss ways to make changes

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BUENOS AIRES, November 30. /TASS/. Russia suggests the Group of Twenty set up a working group to elaborate new global trade rules, Russian Minister of Economic Development Maxim Oreshkin said on Friday.

"Our position is that it is the Group of Twenty that should set up a working group where all the 20 nations would work jointly on new global trade rules," he said at the G20 forum.

He noted that trade rules are laid down by the World Trade Organization (WTO) but the Group of Twenty can discuss ways to make changes in that organizations.

According to the Russian minister, the WTO’s dispute settlement mechanism is now working inefficiently.

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