Trade and investment ministers from the world’s 20 largest economies will meet this week to discuss trade policies to boost inclusive and sustainable economic growth amid the Covid-19 pandemic.
G20 ministers will also deliberate on ways to support the necessary reforms of the World Trade Organisation, the G20 said in a statement late on Saturday evening.
These discussions will focus on improving the international competitiveness of micro, small and medium-sized enterprises (MSMEs), increasing economic diversification and strengthening international investment, the G20 said.
Saudi Arabia’s Minister of Commerce Majid Al Qasabi and Minister of Investment Khaled Al Faleh will lead the September 22 meeting. The kingdom holds the rotating presidency of the G20 this year.
Progress made on the organisation’s action plan on supporting world trade and investment in response to Covid-19 will also be discussed during the online session.
In May, the G20 laid out short and long-term responses to alleviate the impact of the coronavirus that included a plan to support "the necessary reform of the WTO and the multilateral trading system, build resilience in global supply chains and strengthen international investment”, the ministers said at the time.
Short-term collective actions recommended by the G20 Trade and Investment Working Group include removing trade barriers, facilitating trade, improving transparency, enhancing the operation of logistics networks and supporting MSMEs.
The pandemic has brought the global trade, travel and tourism sectors to a halt in the first half of the year, tipping the world’s economy into a recession, the deepest since the Great Depression, according to the International Monetary Fund.
Global trade is expected to decline 27 per cent in the second quarter of this year, compared with the previous three months, according to data by the UN Conference on Trade and Development. Global production and manufacturing output are set to decline by 9 per cent compared with a year ago, UNCTAD said in May.
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In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.
Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.
A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.
The Emirates is the world’s third largest per capita water consumer after the US and Canada.
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Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
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But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
UPI facts
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Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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Sector: HealthTech / MedTech
Size: 300 employees
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