BANGALORE: The second meeting of the Trade and Investment Working Group (TIWG) under India’s G20 presidency is all set to host in Bangalore from 23-25 May.
Anupriya Patel, Union Minister of State for Commerce and Industry, will be present at the opening ceremony on May 24. More than 100 delegates from G20 member nations, invitee nations, regional groups, and international organisations will attend the three-day event and participate in intensive talks on a range of issues relating to global trade.
Over 100 delegates from G20 member nations, invitee nations, regional groups, and international organisations will discuss reforming the multilateral trading system, incorporating MSMEs into international trade, building resilient global value chains (GVCs), utilising trade to promote growth and prosperity, and improving logistics for international trade during the three-day meeting, said the Ministry of Commerce & Industry.
A lecture on the confluence of commerce and technology will be held on the opening day of the TIWG meeting. Two panel discussions featuring specialists, academics, and practitioners will offer light on topics like the transformative impact of technology on trade and the role of technology in promoting equitable growth.
The focus of the technical session on May 24 will be WTO reform, which is still a top goal for India's G20 leadership. Reaffirming the core values of the World Trade Organisation (WTO), as set forth in the Marrakesh Agreement and its multilateral trade agreements, will be the focus of the discussions. It will be emphasised how crucial it is to promote the open, inclusive, and transparent operation of the WTO. A talk by the Knowledge Partner will also offer information on this topic.
Presentations on deliverables linked to the digitization of important paper documents used in cross-border trade, like Bills of Lading and Certificates of Origin, will take place on the second and third days of the TIWG meeting.
Additionally, a plan of action will be developed to create a Meta Information Portal for Micro, Small, and Medium-Sized Enterprises (MSMEs), create a framework for mapping global value chains (GVCs), compile a list of best practises for Mutual Recognition Agreements (MRAs), and facilitate the G20 Regulatory Dialogue. These deliverables are the result of fruitful discussions made during the first TIWG meeting, which took place in Mumbai from March 28 to 30, 2023.
India took over the G20's one-year leadership on December 1st, 2022. On September 9 and 10, New Delhi will host the G20 Summit. All 28 states and eight union territories are represented at G20 meetings that are taking place in various locales.
G20 Summit: Will China and Turkey not attend the meeting in Srinagar? Pakistan is the reason
