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Minister Tajani chairs the first G7 Trade Ministers’ Meeting via videoconference

Italy’s Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani, today chaired the first G7 Trade Ministers’ Meeting via videoconference, assisted by the Undersecretary of State for Foreign Affairs Maria Tripodi.

The G7 partners discussed the impact of international geopolitical tensions – from the crises in Ukraine and Gaza to the most recent one in the Red Sea caused by the Houthi attacks – on international trade and how they affect access to energy supplies, components and mineral resources, as well as food security, particularly in Africa. The Ministers confirmed their commitment to protecting companies and to ensuring an international trade that is as resilient as possible to such geopolitical tensions.

“Italy, with its more than 4 million small and medium-sized enterprises and exports contributing almost 40% of national GDP, is in the front line on these issues. We must enable our companies to compete on an equal footing, no matter the situation, with those of other countries,” Minister Tajani commented. “Many issues were discussed today with my G7 counterparts, from industrial subsidies to e-commerce” he added.

The G7 Meeting allowed for coordination ahead of the 13th World Trade Organisation Ministerial Conference in Abu Dhabi. The aim is to counter distortions in international trade caused by governments’ intervention in the economy and to promote more sustainable and fairer trade.

These topics will be discussed in depth during the second G7 Trade Ministers’ Meeting, to be chaired by Deputy Prime Minister Tajani in Reggio Calabria in July.