Team News Riveting
New Delhi, July 8
After the successful completion of two Trade and Investment Working Group (TIWG) meetings, the 3rd meeting will take place from 10th–12th July 2023 in Kevadia, Gujarat.
The three-day meeting will be attended by more than 75 delegates from G20 member countries, invitee countries, regional groupings and international organisations. The focus of the meeting would be to build consensus on accomplishing action-oriented proposals put forward by the Indian Presidency on global trade and investment-related issues.
On the first day, a seminar on Trade Infrastructure will discuss the Role of Logistics in Expanding Global Value Chains (GVCs) and MSMEs Going Global: Integration with GVCs. The seminar will be followed by a guided tour of the Statue of Unity and a dinner hosted by the State Government for the G20 delegates.
The five priority issues namely (i) Trade for Growth & Prosperity, (ii) Resilient Trade and GVCs, (iii) Integrating MSMEs in World Trade, (iv) Logistics for Trade and (v) WTO Reforms were extensively discussed among the G20 member/invitee countries during the first and second TIWG meetings. Moreover, presentations outlining each of the subjects and outcomes emanating from them were made by the Knowledge Partners during these meetings. Based on the opinions/suggestions expressed by the G20 member/invitee countries in these discussions, Indian Presidency has formulated action-oriented concrete proposals on each of the priority issues.
These proposals relate to developing High-Level Principles for Digitalization of Trade Documents, Action Plan to Create Meta Information Interface for MSMEs, Generic mapping framework for GVCs, G20 Regulatory Dialogue and preparing a Compendium on best practices for Mutual Recognition Agreements (MRAs). In this backdrop, during the third meeting, the Presidency is now striving for consensus-building among the G20 member countries for eventual adoption of these proposals.
Accordingly, on 11th & 12th July, technical sessions will be conducted during which specific inputs/comments of the G20 member/invitee countries will be solicited on the Presidency’s proposals. These inputs will be suitably incorporated while drafting the Ministerial Communique which will be adopted during the G20 Trade and Investment Ministerial Meeting scheduled at Jaipur from 24th to 25th August, 2023.
The working agenda has been prepared keeping in mind the clarion call given by the Prime Minister, Shri Narendra Modi that the G20 outcomes should be action-oriented and address the challenges faced by the Global South. In this backdrop, the outcomes from the 3rd TIWG Meeting would pave the way for building a shared understanding of the challenges being faced in accelerating global trade and investment, and develop tools that could leverage existing opportunities to make growth inclusive and transparent.
