Business
Bengaluru To Host Second G20 Trade And Investment Working Group Meeting From 23 To 25 May
The second TIWG meeting under India's presidency will be held in Bengaluru from 23-25 May
The second Trade and Investment Working Group (TIWG) meeting, under India’s G20 Presidency, will be organised in Karnataka's Bengaluru from 23 to 25 May.
Union Minister of State for Commerce and Industry Anupriya Patel will inaugurate the meeting on 24 May, according to an official release.
During the three-day TIWG meeting, over 100 delegates from G20 member countries, invitee countries, regional groupings and international organisations will deliberate on reforming the multilateral trading system, integrating MSMEs in global trade, resilient GVCs, making trade work for growth and prosperity, and efficient logistics for trade.
On 23 May, the first day of TIWG, a seminar on Trade and Technology will be organised.
Themes, such as technology reshaping trade and the role of technology in driving inclusive growth will be deliberated in two panel discussions, featuring domain experts, academicians and practitioners.
The seminar will be followed by a guided city tour, a cultural programme and Gala Dinner for the G20 delegates, the Commerce Ministry said in a release on Friday (19 May).
The subject of WTO Reform, which is one of the priorities pursued by the Indian Presidency will be taken up for discussion in a technical session on 24 May, the ministry said.
According to the ministry, the emphasis of these discussions will be on reaffirming WTO’s foundational principles, as embodied in the Marrakesh Agreement and its multilateral trade agreements, thus recognising the need for open, inclusive and transparent functioning of the global trade body.
On the second and third day, presentations will be made on the deliverables related to digitalisation of paper documents, such as Bills of Lading and Certificate of Origin that are critical for cross-border trade, and on developing an action plan to create Meta Information Portal for MSMEs, framework for mapping GVCs, a compendium of best practices on Mutual Recognition Agreements (MRAs) and on G20 Regulatory Dialogue.
These deliverables have emerged from deliberations that took place during the first TIWG meeting held in Mumbai from 28 to 30 March.
The ministry said that the aim, under India’s G20 Presidency, is to build a shared understanding of the challenges faced in accelerating global trade and investment, and leveraging existing opportunities to make growth inclusive and transparent.
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