G20 meeting of trade ministers: Goyal calls for inclusive trade and economic initiatives

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New Delhi: Commerce and industry minister PiyushGoyal Thursday announced that the main goal of the G20 Trade and Investment Ministerial Meeting (TIMM) will be removing obstacles for global trade and investing, which will help increase production and output and stimulating prosperity and prosperity for everyone.

In his address to the opening session the gathering at Jaipur, Rajasthan, the minister appealed to the heads of state from G20 and the other invited countries for collaboration to create tangible, decisive and immediate results.

Goyal stated that the gathering concentrates on formulating outcomes that are shared regarding issues related to multilateral trade systems as well as inclusive trade, and the ease for business and trade. These issues were discussed during the 4 Trade and Investment Working Group (TIWG) sessions that were held under the Indian G20 Presidency. The minister stated that these meetings are aimed at creating an inclusive, fair and sustainable trade as well as trade-related investment policy.

Goyal stated that the summit will feature sessions focused on Multilateral Trade to ensure global Growth & Prosperity; Inclusive and resilient trade, and Utilizing Technology to enable paperless trade.

The Minister pointed out the priority five areas that include trade for growth and economic prosperity, trade that is resilient and GVCs, including MSMEs within global trade and logistics for trade, as well as WTO reforms are being widely discussed with the G20 participants during TIWG meeting.

The minister stated that India as part of its G20 Presidency is aware of the important contribution of Micro, Small and Medium Enterprises (MSMEs) in the world economy and is working under the direction of the Prime Narendra Modi. Narendra Modi to give them constant assistance.

The minister said it’s vital to establish a open and diverse trade system and reforms to the World Trade Organization (WTO). Goyal stated that the changes must be a reflection of the changing global economy.

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