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In his opening remarks at the two-day trade ministerial meeting, Goyal also stressed on the importance of resilient global value chains.
The focus of the G20 Trade and Investment Ministerial Meeting is on easing barriers to international trade and investment and it will end with significant outcomes keeping in mind the current multinational challenges, Union Commerce and Industry Minister Piyush Goyal said on Thursday.
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“There has been a significant progress in the deliberations at various levels to come with a strong outcome document and I have the confidence…we will all be able to agree on a broad consensus on all trade related issues where we can all come out with a strong outcome document and Chair’s text reflecting the desire of the whole world to see greater prosperity across continents,” Goyal said.
In his opening remarks at the two-day trade ministerial meeting, Goyal also stressed on the importance of resilient global value chains. “In today’s interconnected world, the concept of global value chains has revolutionised the way nations engage in trade and investment. However, we must acknowledge that the pandemic and other shocks have disrupted the global value chains and have made us realise the importance of resilient GVCs,” Goyal said.
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On the first day of the G20 meeting in Jaipur, the discussions centered on the topic of ‘Multilateral Trade for Global Growth and Prosperity’ which included exchange of views on how trade can work for developing nations and reforms in the World Trade Organisation (WTO). The second session of the day was ‘Inclusive and Resilient Trade’ which focussed on the issues of trade and resilient value global value chains and integrating Micro Small and Medium industries in world trade. On the last day of the meeting on Friday, a session on Leveraging Technology for Paperless Trade is scheduled.
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First published on: 25-08-2023 at 04:49 IST
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