G20 Trade and Investment working group meet begins in Bengaluru, prioritises integration of MSMEs in global trade
Bengaluru, May 23 (KNN) The three-day G20 Trade and Investment Working Group meeting is all set to begin in Bengaluru on May 23, 2023.
The three-day meeting will deliberate on reforming the multilateral trading system, integrating the Ministry of Micro, Small and Medium Enterprises (MSME) in global trade, making trade work for growth and prosperity and efficient logistics for trade.
As per reports, over 100 delegates from G20 member countries, invitee countries, regional groupings and international organizations are participating in the meet.
On the first day of the event, a seminar on trade and technology will be organized to discuss themes such as technology reshaping trade and the role of technology in driving inclusive growth etc.
The subject of World Trade Organization (WTO) Reform, which is one of the priorities pursued by the Indian Presidency will be taken up for discussion in a technical session on May 24, 2023.
On the second and third days, presentations will be made on the deliverables related to the digitalization 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, a 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 meeting held in Mumbai in March.
India under its G20 Presidency aims 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. (KNN Bureau)