इंडियन आवाज़     13 Apr 2024 12:10:17      انڈین آواز

G-20 summit: India calls for non-discriminatory global trading system

(Last Updated On: 17/11/2015)


Prime Minister Narendra Modi Monday said, all elements of the WTO’s Bali pact should be fully implemented for realizing a transparent and non-discriminatory global trading system. In his intervention at the G-20 working lunch on ‘Trade and Energy’, Modi said the global trade slowdown was a major concern and prospects for rise in trade momentum remain bleak. Stating that efforts to accelerate global economic growth will help trade, he said a transparent, equitable,non-discriminatory and rule-based global trading system is essential for the world economy.

In the last meeting at Bali in Indonesia, the WTO members agreed on the trade facilitation pact and food grain stockpile for food security purposes. As regards regional trade agreements, PM Modi noted that, such pacts “should not fragment the global trading system.

On energy sector, Modi said, the grouping of world’s biggest economies (G-20) should increase research and development in clean and renewable energy and reduce cost to make it affordable and accessible for all. The World Trade Organisation’s (WTO) 10th ministerial meeting is scheduled from December 15 to 18 at Nairobi in Kenya.

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