Thursday, November 30, 2023

G20: Trade and Investment Working Group meeting in Bengaluru from today

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The second Trade and Investment Working Group meeting will take place in Bengaluru on Tuesday, as part of India’s G20 presidency.

Over 100 delegates from G20 member countries, invitee countries, regional groups, and international organisations will meet for three days to discuss reforming the multilateral trading system, integrating the Ministry of Micro, Small, and Medium Enterprises (MSME) in global trade, making trade work for growth and prosperity, and efficient trade logistics.

On the first day, a trade and technology seminar will be held, according to the Ministry of Commerce and Industry. Themes like technology reshaping trade and the role of technology in driving inclusive growth will be debated in two panel discussions with domain experts, academics, and practitioners.

Following the seminar, there will be a guided city tour, a cultural programme, and a Gala Dinner for G20 delegates.

The subject of World Trade Organisation (WTO) Reform, which is one of the Indian Presidency’s priorities, will be discussed in a technical session on May 24, 2023.

In the second and third days, presentations will be given on the deliverables related to the digitalization of paper documents, such as Bills of Lading and Certificates of Origin, which are critical for cross-border trade, as well as the development of an action plan to create a Meta Information Portal for MSMEs, a framework for mapping GVCs, a compendium of best practises on Mutual Recognition Agreements (MRAs), and the G20 Regulatory Dialogue. These deliverables resulted from discussions held during the first meeting in March in Mumbai.

The goal of India’s G20 presidency is to develop a shared understanding of the challenges that must be overcome in order to accelerate global trade and investment while also leveraging existing opportunities to make growth inclusive and transparent.

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