Seoul: President Lee Jae Myung on Saturday urged the Group of 20 (G20) nations to work to revitalize the World Trade Organization (WTO) to enhance global growth potential, saying the world must establish a predictable trading and investment environment. Lee made the call during the first session of the G20 summit, as the multilateral trading system is facing turmoil.
According to Yonhap News Agency, Lee emphasized the importance of establishing a stable and predictable environment for trade and investment to stimulate global economic growth. He highlighted that reviving the WTO is crucial for the benefit of all nations involved in international trade.
Lee's remarks come at a time when the WTO is experiencing challenges that threaten its effectiveness as a mediator of global trade disputes. The G20 summit serves as a platform for leaders to discuss strategies for addressing these issues and fostering sustainable economic growth worldwide.