They also recognized the need to expedite reform of the World Trade Organization (WTO) to establish a "faster, more agile, and effective" conflict resolution system, according to Brazil's Vice President and Trade Minister Geraldo Alckmin.
The proposals agreed upon by G20 trade ministers during their meeting in Brasilia will be presented to the group's leaders at the annual summit hosted by Brazil in November in Rio de Janeiro and will be included in their joint statement.
This marks the first time the G20 has addressed the issue of increasing women's inclusion in international trade, Alckmin noted, adding that Brazilian President Luiz Inacio Lula da Silva insisted that it become a G20 principle.
Brazil, which will host the COP30 climate talks next year, prioritized the need to combat climate change and suggested that the G20 should advocate for trade and investments that support environmentally sustainable economic development.
Lula has also made reforming global governance institutions a key priority, and the ministers agreed to endorse WTO reform and the strengthening of a multilateral trading system, according to a Brazilian government statement.
"We emphasized the importance of a rules-based, non-discriminatory, fair, open, inclusive, equitable, sustainable, and transparent multilateral trading system, with the WTO at its core. We will work to ensure a level playing field and fair competition to create a favorable trade and investment environment for all," the statement read.
The one-day meeting avoided contentious issues; however, members shared their perspectives on Russia and Ukraine and the situation in Gaza, with some advocating for these matters to be discussed in the G20 while others argued it was not the appropriate forum, according to the Brazilian statement.
"There were disagreements in drafting the texts and some issues were dropped, but in the end, there was consensus on everything, including the proposal regarding women in international trade," said an Asian diplomat who attended the meeting.