2nd Trade and Investment Working Group meeting in Bengaluru from 23rd – 25th May, 2023

Smt. Anupriya Patel to inaugurate the 2nd TIWG Meeting

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Trade and Investment Working Group
Photo - g20.org

The 2nd Trade and Investment Working Group (TIWG) meeting, under India’s G20 Presidency, is being organized in Bengaluru from May 23rd – 25th, 2023. The meeting will be inaugurated by the Union Minister of State for Commerce and Industry, Smt. Anupriya Patel on May 24th, 2023. 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 GVCs, making trade work for growth and prosperity, and efficient logistics for trade.

On May 23rd, the first day of TIWG, a seminar on Trade and Technology will be organized. 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. Seminar will be followed by a guided city tour, a cultural program, and Gala Dinner for the G20 delegates.

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 May 24th, 2023. 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 recognizing the need for open, inclusive, and transparent functioning of WTO. A presentation will also be made on the subject by the Knowledge Partner.

On the second and third day, 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, 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 1st TIWG meeting held in Mumbai from March 28th – 30th, 2023.

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. Thus, building global synergies that lead the world towards finding common solutions for a resilient and sustainable One Earth, One Family, One Future.

Source – PIB India

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