Saudi Arabia’s King Salman bin Abdulaziz has urged the G20 leaders to boost funding for a coronavirus vaccine, resume the normal flow of goods and services as soon as possible, and help developing countries overcome the global health crisis.
His remarks came at the opening of an extraordinary video conference on Thursday convened by the world’s major economies to coordinate action over the outbreak and its economic impacts, as worldwide infections exceeded 470,000 with more than 21,000 dead.
“We must have an effective and coordinated response to this pandemic and restore confidence in the global economy,” the king said, reports Reuters.
“On the trade front, the G20 must send a strong signal to restore confidence in the global economy by resuming, as soon as possible, the normal flow of goods and services, especially vital medical supplies.”
The G20, currently chaired by Saudi Arabia, has faced criticism of a slow response to the worsening crisis, which is expected to trigger a global recession.
Some member countries have announced economic stimulus packages to offset broad suspensions of air travel and shutdowns of many businesses.
But there are growing concerns about protectionist measures being discussed or adopted as countries scramble to respond. The US Chamber of Commerce urged G20 leaders to match a pledge by countries like Australia and Canada to keep supply chains open and avoid export controls.
HEALTH SHORTAGES
World Health Organization director-general Tedros Adhanom Ghebreyesus was to address the G20 to seek support for ramping up funding and production of personal protection equipment for health workers amid a global shortage.
“We have a global responsibility as humanity and especially those countries like the G20,” Tedros told a news conference in Geneva late on Wednesday. “They should be able to support countries all over the world.”
King Salman urged cooperation in financing research and development for therapeutics and a vaccine, ensuring the availability of vital medical supplies and equipment, and helping less developed countries build capacities.
Despite calls for cooperation, the 90-minute call risked entanglement in an oil price war between Saudi Arabia and Russia and tensions between the United States and China over the origin of the virus.
In preparatory meetings, Beijing and Washington agreed to call a timeout on their coronavirus blame game, the South China Morning Post reported, citing diplomatic sources.
But talks among UN Security Council nations have stalled over US insistence that any joint statement call attention to the coronavirus’ origins in China, NBC News reported. Outbreaks, which began in central China last year, have been reported in 196 countries.
“The US-China dynamic is pivotal to successful G20 coordination, never more so than now as countries grapple 24/7 to confront and contain a pandemic we do not yet fully understand,” former acting US Trade Representative Miriam Sapiro said.
Meanwhile, Washington may use the summit to launch a debate about ending an oil price war between Riyadh and Moscow that has pushed crude prices to near 20-year lows as the pandemic destroyed global demand, The Wall Street Journal reported.