Union Commerce and Industry Minister Mr. Piyush Goyal participates in the 13th BRICS Trade Ministers' Meeting
- Press Information Bureau
- August 9, 2023
Mr. Piyush Goyal, Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution, and Textiles, virtually participated in the 13th BRICS Trade Ministers' Meeting under South Africa’s BRICS Presidency on August 7, 2023. "BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism" is the theme of BRICS this year. In the meeting, Shri Mr. Goyal discussed issues related to the World Trade Organisation (WTO), supply chains, digitalisation, MSMEs, and the problem of under-invoicing and mispricing.
The Minister praised the South African Presidency for completing outcome-oriented activities under the Contact Group on Economic and Trade Issues (CGETI) and for having an ambitious agenda.
He emphasised the importance of developing mutual trust and affirmed his firm belief in the WTO Reform's small and achievable steps. He also spoke on how India wants to see an energised, better, and inclusive WTO as it approaches its third decade. He mentioned the initiative known as "30 for 30," which aims to improve at least 30 aspects of the WTO's operations by the time the Organisation reaches its third decade, i.e. by January 1, 2025.
The Minister informed the BRICS Member countries about India's achievement and its recent rating at 5th position in the Climate Change Performance Index, released by German Watch, reflecting the country's efforts to fulfil its commitments to global efforts to combat climate-related concerns. He further highlighted that the only other G20 nation in the top 10 was India in this regard. He further requested collaboration for substantial accomplishments through the G20's "Trade and Investment Working Group" under India's Presidency as BRICS countries are also G20 members.
Mr. Piyush Goyal also expressed his concern about supply chains, the digital economy, MSMEs, and under-invoicing and mispricing. Furthermore, the Minister stressed the importance of collaborative efforts and commitment along with resilience, unity, and transparency to face challenges under the principles of compassion, empathy and understanding, for a common brighter future.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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