G20 Trade and Investment Working Group second meeting in Bengaluru 23-25 May
1 min read 19 May 2023, 04:46 PM ISTThe three-day event will witness the participation of more than 100 delegates from G20 member countries, invitee countries, regional groupings, and international organizations, who will engage in extensive discussions on various topics pertaining to global trade
PremiumNew Delhi: The second meeting of the Trade and Investment Working Group (TIWG) under India’s G20 presidency is set to take place in Bengaluru from 23-25 May.
Union Minister of State for Commerce and Industry Anupriya Patel will be present at the inaugural ceremony, to be held on 24 May. The three-day event will witness the participation of more than 100 delegates from G20 member countries, invitee countries, regional groupings, and international organizations, who will engage in extensive discussions on various topics pertaining to global trade.
“During this three-day meeting, over 100 delegates from G20 member countries, invitee countries, regional groupings and international organizations will deliberate on reforming the multilateral trading system, integrating MSMEs in global trade, resilient global value chains (GVCs), making trade work for growth and prosperity, and efficient logistics for trade," the Ministry of Commerce & Industry said.
The first day of the TIWG meeting will have a seminar focusing on the intersection of trade and technology. Experts, academicians, and practitioners will participate in two panel discussions, shedding light on themes such as the transformative impact of technology on trade and the role of technology in driving inclusive growth
WTO reform, which remains a key priority for India’s G20 presidency, will be a focal point during a technical session scheduled for 24 May. The discussions will centre on reaffirming the fundamental principles of the World Trade Organization (WTO) as outlined in the Marrakesh Agreement and its multilateral trade agreements. The importance of fostering an open, inclusive, and transparent functioning of the WTO will be highlighted. Additionally, a presentation by the Knowledge Partner will provide insights on this subject.
The second and third days of the TIWG meeting will witness presentations on deliverables related to the digitalization of crucial paper documents in cross-border trade, such as Bills of Lading and Certificates of Origin.
Furthermore, an action plan will be formulated to establish a Meta Information Portal for micro, small, and medium enterprises (MSMEs), develop a framework for mapping global value chains (GVCs), compile a compendium of best practices on Mutual Recognition Agreements (MRAs), and facilitate the G20 Regulatory Dialogue. These deliverables have emerged from constructive deliberations that took place during the first TIWG meeting held in Mumbai from 28-30 March, 2023.
India assumed the one-year presidency of G20 from 1 December 2022. The G20 Summit will be held in New Delhi on 9-10 September. G20 meetings are being held across different cities, covering all 28 states and eight union territories.
