Union Min Piyush Goyal meets Italy FM ahead of G20 Trade Ministers' Meet

Union Minister of Commerce and Industry Piyush Goyal met Italian Foreign Minister Luigi Di Maio on October 12 ahead of the G20 Trade Ministers' conference in Italy. "Met Italian Foreign Minister @LuigiDiMaio ahead of the G20 Trade Ministers' Meet in Italy. Italy is India's 5th largest trading partner in the European Union. Its recognition of Covishield vaccine for travel is reflective of our strengthening bilateral relationship," Goyal wrote on Twitter.

The G20 ministers in charge of international trade will meet today in Sorrento, Italy. The G20 Trade and Investment Ministerial Meeting aims to serve as a springboard for a successful outcome of the 12th World Trade Organization Ministerial Conference, which will take place in Geneva from November 30 to December 3, and will be a key moment in revitalising the multilateral trading system," according to the website.

Union Min Goyal to attend G20 Trade Ministers meet

On October 12, Commerce and Industry Minister Piyush Goyal will attend a gathering of top economic trade ministers at the G-20 Ministerial Summit in Italy. The summit comes ahead of the actual G20 Leaders' Summit, which will take place in Rome later this month. India's international efforts, including the G20 summit, are directed by the government's goal of $400 billion in exports this year, with a goal of $450-500 billion next year. On global concerns, Goyal will strive for the rapid repair and restoration of crucial supply chains that facilitate commerce, as well as collaboration with other major economies to find a solution to multilateral issues.

Strengthening Bilateral ties

Goyal also met trade ministers from a variety of countries for one-on-one interaction. For the first time, he met Ngozi Okonjo-Iweala, Director-General of the World Trade Organization. Goyal tweeted, "India is committed to supporting the WTO in its efforts to improve the multilateral trading system and promote free and fair trade for the benefit of all member countries."

Goyal said during a meeting with Mary Ng, Canada's Minister of International Trade, that talks for a Comprehensive Economic Partnership Agreement are underway, with energy, new technology, manufactured goods, and services being major areas for future cooperation. Goyal praised the significant increase in bilateral trade and investment in recent years, particularly in the automobile, IT, and health sectors, when he met with Mexico's Secretary of Economy, Tatiana Clouthier.

India, on the other hand, chose a more cautious stance toward South Korea. Goyal said during a meeting with South Korean Trade Minister Yeo Han-koo that balancing trade between our two countries is crucial for further developing the India-Korea Comprehensive Economic Partnership Agreement.

Image: PiyushGoyal@Twitter