Matthias Fekl, Minister of State for Foreign Trade, the Promotion of Tourism and French Nationals Abroad, took part, on July 8, 9 and 10, in the G20 Trade Ministers Meeting in Shanghai, under Chinese presidency.
The French government welcomes the adoption by the G20 of an ambitious ministerial statement, accompanied, for the first time, by a trade and investment strategy as well as investment guidelines.
The statement notably underscores the need to address the issue of overcapacity at the global level, which poses a threat to several productive sectors. This is fully consistent with France’s position on defending European industry.
The G20 Trade Ministers Meeting also provided an opportunity to make a commitment to concluding the Environmental Goods Agreement (EGA) in 2016. By reducing the customs duty on goods that help lower CO2 emissions and protect the environment, the EGA is the first step toward ensuring coherence between trade and environmental policies, as recommended by France.
Lastly, the minister of state presented and endorsed the investment court system model for the first time in a multilateral forum. France has played an active role in developing an investment court system model that moves away from private arbitration. The investment court system proposed by Europe in each of its trade agreements, which has been adopted by the Commission and approved by several international partners including Canada, is expected to eventually become a multilateral investment court system.