Korea Proposes 'Exceptional Entry Permission for Businesspeople' at G20 Trade Ministers Meeting

G20 "Cooperation to Minimize Supply and Trade Restrictions on COVID-19 Medical Supplies"
Yoo Myung-hee "Minimize Restrictions on Business Travel and Maintain Global Supply Chains"

Yoo Myung-hee, Minister for Trade of the Ministry of Trade, Industry and Energy, attending the G20 virtual trade ministers' meeting. (Photo by Ministry of Trade, Industry and Energy)

[Asia Economy Reporter Moon Chaeseok] Trade ministers from the Group of Twenty (G20) agreed on the 30th (local time) to strengthen cooperation to ensure the continuous supply flow of essential medical supplies related to COVID-19. South Korea explained specific plans to minimize restrictions on businesspeople's movement and maintain global supply chains.

On the 31st, the Ministry of Trade, Industry and Energy announced this in a document titled "Accelerating Follow-up Measures after the G20 Special Summit." Previously, the G20 Special Summit was held on the 26th, before the G20 Special Trade Ministers' Meeting held the day before.

Yoo Myung-hee, the Chief Trade Negotiator, raised related issues proposed by South Korea at the G20 Special Summit, including ▲allowing the movement of essential personnel such as businesspeople ▲maintaining the flow of economic exchanges between countries. These were reflected in specific wording in the G20 Trade Ministers' Joint Declaration.

Specifically, the cooperation plan included ▲establishing a "Guideline for Exceptional Entry Permission for Businesspeople" to be commonly applied between countries ▲facilitating transportation logistics by land, sea, and air and simplifying customs procedures to maintain supply chains ▲minimizing trade and investment impacts of public health measures in accordance with World Trade Organization (WTO) principles.

Meanwhile, the G20 trade ministers included in the joint declaration agreements such as ▲ensuring smooth trade of goods and services essential to public health (medical supplies, equipment, important agricultural products, etc.) ▲implementing trade restrictive measures as temporary and necessary minimum actions, operated in a manner consistent with WTO rules.

An official from the Ministry of Trade, Industry and Energy stated, "The government plans to concretize through follow-up G20 working-level meetings the establishment of guidelines for exceptional entry permission for businesspeople proposed by us, the prompt resolution of logistics and transportation difficulties, and the simplification of customs procedures." He added, "In particular, we plan to continue follow-up discussions through additional bilateral consultations with our major trade and investment partner countries."

This content was produced with the assistance of AI translation services.