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breaking news Piyush Goyal at G20 Ministerial Meeting — Intensive Efforts Needed to Save and Promote the Ideals of Multilateralism


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At the G20 ministerial meeting in Bali, Piyush Goyal expressed concern that if multilateralism were to be undermined, the world would end up with fewer forums for conversation and diplomacy, and free trade would suffer.

Trade and Industry Minister Piyush Goyal, in his opening speech at the G20 ministerial meeting in Bali on Thursday, said intensive efforts are needed to safeguard and promote the ideals of multilateralism.

He expressed his concern that if multilateralism were to be undermined, the world would end up with fewer forums for conversation and diplomacy, and thus free trade would suffer.

The Minister reaffirmed India’s unequivocal support for the efforts of the Indonesian Presidency to produce a consensual outcome that reflects the combined commitment of all nations to a fair, transparent and rules-based multilateral trading system.

The Minister welcomed the outcomes of the WTO MC12, stressing India’s belief that multilateralism is the foundation for managing and promoting global trade.

He called on the G20 to engage in positive and timely negotiations on key issues stipulated by MC12, such as WTO reforms and the extension of the TRIPS Agreement waiver to cover production. and the provision of COVID 19 diagnostics and therapies within the agreed 6 months. Time range.

“He also asked members to be aware that our fisheries negotiations and a permanent solution to public stockholding, a permanent solution to the e-commerce moratorium, among other agendas, required their urgent attention and decisions.” , according to a press release from the Ministry of Commerce.

Goyal said governments must work together to develop resilient international supply chains in the face of geopolitical and pandemic disruptions while talking about the world’s response to COVID-19, digital trade and sustainable investments for global economic recovery.

He said he was very concerned about climate change and advocated for the promotion of a healthy and sustainable way of life, based on traditions and conservation values. In this regard, he believes that Prime Minister Narendra Modi’s “LIFE” or “Lifestyle for the Environment” strategy could be an effective tool to encourage sustainable lifestyles and enhance environmental sustainability.

The conference takes place at a time when the world is still reeling from the effects of the Covid-19 epidemic and is on the verge of a recession, in part due to geopolitical tensions triggered by the invasion of Ukraine by Russia.

He urged all members to be flexible and learn from the WTO’s CM12 meeting in June, where substantial progress towards fair and equitable trade was made.

India’s position enjoyed substantial support; many members said they wanted to see results and supported India’s proposal.

The three-day Ministerial Meeting on Trade, Investment and Industry of the Group of G20 countries kicked off on Wednesday in Bali, Indonesia. Member States discussed key trade concerns such as market access, creating sustainable supply chains and reforming the World Trade Organization (WTO), among others.


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