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Last Updated : Sep 14, 2018 07:09 PM IST | Source: PTI

India to work with other nations to reform WTO: Suresh Prabhu

The other countries include G-20 nations like the US, the UK, China, Germany, France, Japan, and others

India will work along with other countries to reform the World Trade Organisation (WTO) to ensure that it continues to be an engine for global trade, Commerce and Industry Minister Suresh Prabhu said on Friday.

The minister, who is in Argentina for G-20 Trade and Investment Ministerial meeting, said India looks forward to working with all member countries for an agreeable, forward-looking, reform agenda.

"Through the G-20 forum, India will take this idea forward in mission mode," the commerce ministry said in a statement quoting Prabhu.

"India will work along with other countries to reform WTO and ensure that it continues to be an engine for global trade," Prabhu said.

The key issues that will be discussed in the G-20 meeting include global value chains, the new industrial revolution and the international trade outlook, among others.

The multilateral trading system is facing unprecedented challenges in the wake of protectionist measures by some countries, which is not compatible with the WTO, the statement said.

G-20 members include India, the European Union, Argentina, Australia, Brazil, Canada, China, France, Germany, Indonesia, Italy, Japan, Korea, Mexico, Russia, South Africa, Turkey, the US, the UK, and Saudi Arabia.

G-20 members represent 75 percent of international trade, half of foreign direct investment flows, half of foreign flows and 80 percent of global production.
First Published on Sep 14, 2018 06:30 pm
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