India, starting its G20 presidency on December 1, has recognized five significant issues: growth and prosperity, resilient global value chains, MSMEs, logistics, and WTO reform.
The Ministry of Commerce being the nodal agency for the G20 Trade and Investment Working Group (TIWG), would propose a common digital platform for ease of cross-border trade, according to ET.
It will set up a legal aid system for developing countries for the settlement of disputes in WTO, strategies to withdraw distortionary non-tariff measures for developing countries and LDCs, and a framework to deal with critical issues at the WTO in situations like the Covid-19 pandemic.
The second point that could be considered is setting up an online digital portal for market research for MSMEs that offers integrated trade and business information.
The ministry has proposed that G20 could deliberate upon a possible framework for addressing the issues of global relevance for enabling members to go beyond the general exceptions under the WTO agreements, in very narrow and clearly defined circumstances like the pandemic.
It has also suggested developing common principles to facilitate decentralized trading, an inclusive trade action plan that defines clear objectives for driving inclusion in goods and services trade and developing principles to ensure food security through remunerative rates of farm commodities.
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