The mutual agreement on these areas assumes greater import amidst a multi-dimensional global crisis that raises challenges of macroeconomic instability, food insecurity and disruptions across GVCs, as acknowledged in the ‘Outcome Document of Trade Ministerial Meeting’ which concluded in Jaipur on Friday. The joint communique flags the uncertainty over near-term prospects of global trade and investment and the prediction that growth in cross-border trade will remain subdued at 1.7 per cent in 2023. These underline the significance of the G20 acting together to ensure that trade, along with domestic production, plays a vital role in improving global food security in all its dimensions, that trade-related investment initiatives foster resilient, diversified and sustainable economic growth and that use of technology for facilitation of cross-border trade promotes integration of MSMEs in global trade. Prime Minister Narendra Modi has emphasized the G20’s responsibility to rebuild confidence in international trade and investment order, setting the future template. Commerce Minister Piyush Goyal had clearly stated that the focus of G20 Trade and Investment Ministerial Meeting (TIMM) will be on easing barriers to international trade and investment, helping boost productivity and output and fostering economic growth and prosperity for all.
この記事は The Business Guardian の August 27, 2023 版に掲載されています。
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この記事は The Business Guardian の August 27, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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