Vice-Minister for International Affairs Matsuo Visits the Federative Republic of Brazil

1. Overview

On Thursday, October 24, the G20 Trade and Investment Ministerial Meeting was held in Brasília, the Federative Republic of Brazil, attended by Mr. Matsuo, METI’s Vice-Minister for International Affairs, and Mr. Katahira, MOFA’s Assistant Minister of the Economic Affairs Bureau. At the meeting, active discussions were held among G20 member countries on the following themes: (1) WTO Reform and Strengthening of Multilateral Trade System, (2) Women in International Trade, (3) Trade and Sustainable Development, and (4) Sustainable Development in Investment Agreements.

2．Summary of Remarks

During the meeting, Vice-Minister for International Affairs Matsuo made the following remarks mainly focused on (1) and (2):

• Regarding the reform of the WTO’s dispute settlement system, it is necessary to accelerate efforts toward achieving a fully and well-functioning dispute settlement system by the end of 2024, as reiterated at the 13th WTO Ministerial Conference (MC13).
• To ensure a global level playing field among the many countries implementing industrial policies such as industrial subsidies, it is extremely important for developing countries’ industrial development to enhance the transparency of such measures and to minimize their trade distorting effects. The dialogue on nexus between trade and industrial policy at the WTO should be utilized to verify whether the current WTO rules are functioning appropriately and to deepen discussions on how to improve areas that are not functioning effectively.
• With respect to the rule-making function, it is important to demonstrate through tangible outcomes that the WTO remains a relevant institution by ensuring that its rule-making capabilities are intact.
• The Joint Statement Initiative (JSI), which is an effort by interested WTO members to establish new rules, is most certainly an important initiative. The relevant G20 ministers will hopefully provide political momentum for incorporating the JSI's efforts into the WTO Agreements through their understanding and cooperation.
• In relation to Women in International Trade, Japan is engaged in initiatives such as selecting companies that are outstanding in encouraging women’s empowerment in the workplace and introducing them to investors, as well as providing support for dispatch abroad and funding of female entrepreneurs. Additionally, through the International Trade Center (ITC), Japan is supporting women's employment and entrepreneurship in regions like Africa by utilizing digital technologies. We aim to continue to promote these initiatives in the future.

Division in Charge

International Economic Affairs Department, Trade Policy Bureau