India hosts G20 Trade, Investment Working Group Meeting in Mumbai

The Indian city of Mumbai is hosting the first G20 Trade and Investment Working Group Meeting between 28 to 30 March with the participation of around 100 delegates from around the world.The Indian Ministry of Commerce and Industry said in a statement …

The Indian city of Mumbai is hosting the first G20 Trade and Investment Working Group Meeting between 28 to 30 March with the participation of around 100 delegates from around the world.

The Indian Ministry of Commerce and Industry said in a statement that during this three-day meeting, over 100 delegates from G20 member countries, invitee countries, regional groupings and international organizations will engage in deliberations to accelerate global trade and investments.

Today an international conference on ‘Trade Finance’ was held.

“Role of banks, financial institutions, development finance institutions, and Export Credit Agencies to identify the gaps and address the challenges in the trade finance arena amidst the uncertain global trade landscape, accelerating digitalization and fine-tech solutions for improving access to trade finance” were discussed.

Commerce and Industry Minister of India Piyush Goyal will be part of deliberations tomorrow.

“The priorities related to global trade and investment will be discussed on March 29th and 30th.

The deliberations will focus on making trade work for growth and prosperity, and building resilient Global Value Chains.

The emphasis will be on achieving shared outcomes for making growth inclusive and resilient, increasing the participation of developing countries and the Global South in Global Value Chains, and building resilient GVCs to withstand future shocks, the ministry said.

The Working Group Meeting’s priorities on integrating Micro, Small and Medium Enterprises in global trade, and building efficient logistics for trade will also come up for discussion.

“The Indian Presidency aims to carry forward the work done by past G20 Presidencies to better integrate MSMEs into global trade, considering their primacy in sustaining livelihoods in both the developed and developing countries,” it said.

Developing robust logistics infrastructure to reduce transaction costs both across borders and in the hinterlands will also be discussed by the participants.

As part of the G20 presidency, Vishakapattanam city in Andhra Pradesh is hosting the second Infrastructure Working Group Meeting on March 28-29.

Future-ready urban infrastructure, propelling urban economic growth, financing future infrastructure, increasing private financing and participation are the focus of the deliberations on Tuesday and Wednesday.

Environmentally sustainable and energy-efficient infrastructure and reducing social imbalances in the cities will also be discussed.

Ramnagar in north Indian state of Uttarakhand is hosting G20 Chief Science Advisers Roundtable from 28 March.

Under the theme ‘Opportunities in One Health’ ways to better disease control and preparedness for pandemic are discussed.

It will also discuss global efforts to expand the access to scholarly scientific knowledge, Diversity, equity, inclusion, and accessibility in science and technology.

Source: Kuwait News Agency