G20: Mumbai to host first trade, investment working group meet next week

39 countries are expected to participate in the G20 event in Gurugram. (Representational)

Over 100 delegates from G20 member countries will engage in deliberations to accelerate global trade and investments at the first trade and investment working group meeting under India's G20 Presidency in Mumbai from March 28-30.

New Delhi has identified five priority issues -- growth and prosperity, resilient global value chains, MSMEs, logistics, and WTO reform -- under its G20 presidency. Of these, it will focus on four in the first meeting.

''Under India's Presidency, the aim is to build a shared understanding of the challenges being faced in accelerating global trade and investment, and how existing opportunities can be harnessed for the benefit of humanity following the motto of Vasudhaiva Kutumbakam and find common solutions,'' the Commerce Ministry said in a statement.

Commerce Secretary Sunil Barthwal said, India has taken up five priority issues, which are maintaining and diversification of the global value chains; better integration of MSMEs in the global trading system, better integration with the international world in terms of our facilitation of trade between the Customs Authorities and the government of India.

The fourth focus area will be the WTO appellate dispute settlement mechanism which should be well informed and WTO multilateral arrangement should be working for the benefit of all the countries, he said.

The last issue will be trade and growth where we will be looking at the sustainable development goals that how trade can reduce poverty and inequality.

''Overall we will have four such meetings of the Trade and Investment Working Groups. The second one is going to come up in Kevadia (Gujarat) in June. The third one will be coming up in Bangalore in July, and then the last one which is the ministerial Meeting chaired by the Commerce and Industry Minister in August in Jaipur,'' Barthwal said.