Positive outcome: G20 ministers reach consensus on 5 points
After the conclusion of the two-day Trade and Investment Ministerial Meeting held in Jaipur, commerce and industry minister Piyush Goyal said that there is only one paragraph of the 17-page statement where «we could not get consensus for obvious reasons» but there were «new outcomes which were not part of the agenda before». Digitalisation of trade documents, enhancing information access to MSMEs, framework to map global value chains, best practices on mutual recognition agreements for professional services, and a standards dialogue were the five outcomes of the G20 Trade and Investment Ministers Meeting (TIMM), which culminated into an Outcome Document and Chair's Summary.
The outcome document also has three annexes-G20 Generic Framework for Mapping GVCs, Jaipur Call for Action for enhancing MSMEs' access to information, and High Level Principles on Digitalisation of Trade Documents.
Russia and China had «their distinct position» on the paragraph on «geopolitical issues». As per the document, there were «different assessments» of the situation and sanctions.
«Recognising that G20 is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy,» it said.
While Russia rejected the inclusion of the paragraph on the basis that it does not conform to the G20 mandate and recognises its status as Chair's Summary, China said that the G20 TIMM is not the right forum to discuss geopolitical issues and did not support the inclusion of the geopolitical-related content.
«All the five outcomes received widespread support from the G20 ministers,» the commerce and industry ministry said.
