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B20 Summit 2023: Earlier, Finance Minister Sitharaman, while speaking at the forum, said India is expected to soon announce the much-awaited free trade agreement with the United Kingdom. She also noted that an FTA could be finalised with another G7 nation, Canada.
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"We believe that Switzerland can collab with India to become a premiere manufacturing and service place in the world. Swiss companies are here to empower people and give them quality jobs,and this is the value proposition from Switzerland," saidHelene Budliger Artieda, State Secretary for Economic Affairs, the Swiss Confederation at the Trade Ministerial Session.
"Sustainability is the future of the present and coming generations and the energy we use would be a key component of sustainability. The next G20 presidency will focus on it with emphasis on transition to clean energy, preservation of natural resources and foster sustainable economic growth," saidBrazil's Vice Minister for Commerce Marcio Elias Rosa. Notably, Brazil will take over the presidency of G20 from India next year.
"The EU has a political will to work together as one market, we wish to strengthen our ties with reliable and resilient supplychains to ensure successful growth. The Russian aggression against Ukraine increased consensus with EU states the need to strengthen its ties with partners around the world to ensure resilient supply chains," said Valdis Dombrovskis, Executive Vice President andEuropean Commissioner for Trade, European Union.
"Indonesia is very happy and excited for India’s #G20 presidency, we have a strong will to forge a strong relationship with India to bridge the trade barriers. ASEAN is the epicentre of growth and as Indonesia has assumed the presidency of ASEAN this year, we are eagerly looking at India’s support,"Zulkifli Hasan, Trade Minister, Indonesia, said.
"India and China's trade relationship has been growing very fast. Last year, our bilateral trade reached 130 billion US dollars. The potential for trade is much more and can benefit both the people of both the countries. The doors of RCEP is always open to India," saidWang Shouwen, China's Vice Minister of Commerce.
"I feel truly very redeemed when I see the enthusiasm that the B20 has been able to generate across continents, the high quality of dialogue and discussion, and the serious interest in the India story that we see around the world. It's a moment of pride for all of us,"said Piyush Goyal, Union Minister of Commerce and Industry, while speakingat the 'Trade Ministerial Session'.
"Countries need to be financially resilient when faced with natural disasters and other kinds of crises. World Bank has put up a crisis tool kit with three powerful instruments: catastrophe insurance product, debt-pause clauses, and rapid response options," said Anshula Kant,Managing Director and Chief Financial Officer, World Bank, while speaking at the session on 'Actions for Global Economic Recovery'.
“The G20 presidency of India couldn't have come at more pivotal time. India's importance is growing. At the World Economic Forum (WEF), we do expect India to overtake the role as the third largest economy in two to three years being larger than Germany and Japan," WEF President Borge Brende said.
"Private capital is important to accelerate global economic recovery solutions. Innovative approaches are required for #investments, and governments across the globe should actively work on derisking the capital,"said Charles Rick Johnston,Managing Director, Global Government Affairs, Citibank, USA, whie speakingat the session on 'Actions for Global Economic Recovery'.
"No proposal before me to lower import duty on electric vehicles," Finance Minister Nirmala Sitharaman said, while speaking to media at sidelines of B20 Summit.
"A substantial portion of the world's cybersecurity challenges could be mitigated if each organization adheres to five key practices for achieving robust cyber defense. These encompass enabling multifactor authentication, applying zero trust principles, implementing extended anti-malware solutions, keeping up-to-date software, and protecting data," Microsoft Vice Chair Brad Smith said.
"It's a changing world for cybersecurity which can be characterized by four fundamental trends; aggressive cyber criminals, the involvement of sophisticated nations, cyber threats to cloud infrastructure, and the emerging role of AI in the cyber space," Microsoft Vice Chair Brad Smith said.
