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World Bank urges G20 to eliminate or cut import tariffs on COVID-19 products

World Bank urges G20 to eliminate or cut import tariffs on COVID-19 products
(file photo)

Washington, Mar 31 (UNI) Managing director for development policy and partnerships at the World Bank Mari Pangestu said that trade ministers of the Group of 20 countries should eliminate or cut tariffs on import of COVID-19 products to reduce the financial impact on poor nations.

“The G20 should eliminate or reduce tariffs on imports of COVID-19 products, as well as lower or temporarily suspend tariffs and export taxes on food and other basic goods to safeguard household incomes and business activity,” Pangestu said in remarks prepared for delivery at a virtual meeting of trade ministers from the bloc on Monday.

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