G20 PERFORMANCE ON TRADE 2008–2024
100
75
50
25
0
Compliance (%)
Conclusions (% words)
Commitments (%)
Co-operation and Development shows that trade-restrictive measures, catalysed by large external debts, inflation, and the wars in Ukraine and Middle East have significantly affected the global economy.
direct investment to unify fragmented African markets and integrate Africa with global markets. Such efforts require a responsive trade agenda, so the challenges of the global commons can be addressed, alongside the asymmetry of power between the energy supply side and the energy buy side, and in emerging technologies. Green industrialisation and investment frameworks remain important drivers of international trade. Several factors would support achieving these goals: 1) WTO reform of the international investment agreement regime; 2) the termination of existing bilateral investment treaties; and 3) ongoing multilateral discussions on reforming investor-state dispute settlement mechanisms. G20 leaders at Johannesburg should thus build on the technical work of their Trade Working Group to advance these priorities, and add specificity and references to core trade law and organisations in their trade commitments.
“Rising economic nationalism has clouded the global outlook, notably as a result of tariff instability”
CAUSES Higher compliance came on commitments that referenced
specific international laws, such as the Agreement on Trade-Related Aspects of Intellectual Property or the World Trade Organization, trade openness, market access including for agriculture, and established G20 and global trade and investment principles. CONCLUSION In preparation for Johannesburg, the G20’s Trade Working Group said the South African presidency would focus on inclusive growth, which includes industrial policy interventions to support their own industries in becoming competitive. This could include the African Continental Free Trade Area or the facilitation of foreign
2023 averaged 67%, lower than the 71% average overall compliance, as assessed by the G20 Research Group. The highest compliance came at the start, with 90% for the Washington Summit in 2008. There followed a general decline in trade compliance until it bottomed out at 37% from St Petersburg in 2013. From 2015 to 2019, compliance peaked again, with 80% from Antalya in 2015, rising to 87% from Osaka in 2019. In 2020 it dropped to 67% and further to 56% in 2021. No commitments were assessed from the 2023 or 2024 summits. However, data for this period from the Organisation for Economic
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