Trade Minister Bolat to attend G7 ministers’ meeting in Italy

ISTANBUL

Turkish Trade Minister Ömer Bolat is scheduled to attend a G7 Trade Minister’s meeting in Italy this week.

The event will take place in Reggio Calabria and Villa San Giovanni on July 16-17 in Italy.

Bolat is expected to hold meetings with his counterparts from participating countries, especially Italy, the United Kingdom, Japan and Canada, and executives of international organizations, on bilateral commercial and economic relations.

The Group of Seven (G7) includes Italy, Canada, France, Germany, Japan, the United Kingdom, and the United States.

Trade Ministers and government officials from India, New Zealand, Argentina, Brazil, South Korea and Vietnam as well as representatives of the World Trade Organization (WTO) and OECD will also be present at the meeting in Italy.

The main objective of the G7 Trade Ministerial is to respond to the tensions and frictions that jeopardize global trade and sustainable and inclusive growth, said a statement by the Italian G7 Presidency.

In January, Italy assumed, for the seventh time, the Presidency of the G7.

“To this end, the Italian Presidency has identified four main issues for international trade that need to be addressed: consolidation of the multilateral trading system through the reform of the WTO, equal conditions of access to third markets, trade and environmental sustainability and economic resilience and security,” the statement said.

Special attention will be paid to the crisis in the Red Sea — which affects international trade routes and has serious economic impacts on Mediterranean ports and supply chains — and the stability and prosperity of the Indo-Pacific region, key to safeguarding political and international trade order.