G20 trade ministerial meet: Goyal calls for inclusive trade initiatives
international trade and investment, helping boost productivity and output and fostering economic growth and prosperity for all. Addressing the opening session of the meeting in Jaipur, Rajasthan, the minister urged the ministers from G20 and other invitee countries to work collectively to achieve concrete, decisive and action-oriented outcomes.
Goyal said that the meeting focusses on formulating shared outcomes on issues related to the multilateral trading system, inclusive trade and ease of trade and business. He said that these issues have been deliberated upon in the four Trade and Investment Working Group (TIWG) meetings held under India’s G20 Presidency.
The minister said that the meetings have aimed at formulating fair, inclusive and sustainable trade and trade-related investment policies. Goyal said the meeting will have sessions on Multilateral Trade for Global Growth & Prosperity; Inclusive & Resilient Trade and Leveraging Technology for Paperless Trade.
The Minister highlighted that the five priority issues namely --trade for growth & prosperity, resilient trade and GVCs, integrating MSMEs in world trade, logistics for trade, and WTO reforms have been extensively discussed among the G20 member/invitee countries during the TIWG meetings. The minister said that the India under its G20 Presidency has recognized the crucial role played by the Micro, Small and Medium Enterprises (MSMEs) in the global economy and makes efforts under the leadership of Prime Minister Narendra Modi to provide them continuous support.
He said that it is imperative to have a more dynamic and inclusive trade environment, with reforms in the World Trade Organization (WTO). Goyal said that these reforms must reflect the evolving global
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