May 25, 2023 6:55 PM

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G20: 2nd TIWG meeting concludes in Bengaluru; discusses reforming multilateral trading system & integrating MSMEs in global trade

<span style="color: #222222;">The Second Trade and Investment Working Group meeting under G20, which concluded in Bengaluru today held an in-depth discussion on the way forward to integrate MSMEs with global trade, set up a Meta Information portal for MSMEs, establish resilient and diversified Global Value Chain, prepare a compendium on Mutual Recognition Agreements, digitize cross border trade and press for WTO reforms. Briefing the media persons after the conclusion of the Working Group meeting in Bengaluru today, Commerce Secretary Sunil Barthwal explained the nuances of the deliberations. He explained that Mutual Recognition Agreements if realized will remove barriers to seeking employment abroad. </span><br />'' <br />'' <span style="color: #222222;">The Agreements will make Indian degrees and diplomas relevant in G20 countries and remove the mandatory and expensive bridge courses and licensing examinations needed to seek jobs abroad. He further informed that the Meta Information portal for MSMEs will help provide linkages with markets abroad. On digitization, the Secretary pointed out that 36 documents have to be submitted by hand for cross-border trade, which needs to be digitized for online transactions. </span><br />'' <br />'' <span style="color: #222222;">Informing about WTO reforms, he said that there are 30 reforms being discussed to make the organization more objective and transparent. He said India has sought restoration of appellate mechanisms and two-tier appeals. The third meeting of the TIWG will be held in Kevadia in Gujarat from the 10th to 12th of July.</span><br />

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