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He urges the G20 to commit itself to positive and timely discussions on important areas mandated by the MC12 including WTO reforms
Photo Credit : PIB
Union Commerce and Industry Minister Piyush Goyal on Thursday urged G20 to commit to positive and timely discussions on TRIPS waiver extension to Covid-19 diagnostics and therapeutics.
He was delivering his opening statement at the G20 trade, investment and industry ministerial meeting that is underway in Bali, Indonesia.
Goyal expressed concern that if multilateralism was imperilled, the world would not be left with many forums to promote dialogue and diplomacy and thus free trade would suffer.
The minister reiterated that India stood firmly with the Indonesian Presidency in its efforts to achieve an outcome based on consensus reflecting the collective commitment of all nations to a fair, transparent and rules-based multilateral trading system
Emphasising that India believes that multilateralism is the cornerstone for managing and facilitating global trade, the minister welcomed the outcomes of WTO MC12.
He urged the G20 to commit itself to positive and timely discussions on important areas mandated by the MC12 including WTO reforms.
The minister observed that in the wake of the pandemic and other recent geopolitical developments, the world had witnessed disruptions in supply chains.
There was an urgent need to address these challenges, he said.
He called upon all members to show utmost flexibility and draw from the experience at the WTO MC12 in June where significant progress to promote equitable and fair trade was achieved.