New Delhi, March 29 Commerce and Industry Minister Piyush Goyal discussed strengthening India's trade and investment relations with Africa with the ministers and ambassadors of African countries on the sidelines of the WTO ministerial conference in Cameroon on Sunday.
"I had a productive discussion with the ministers and ambassadors of the Africa Group members on the sidelines of the 14th World Trade Organisation (WTO MC14) ministerial conference. We discussed investments, including expanding India's investments in Africa," Goyal said in a post on X after the meeting.
"Our discussions reaffirmed the deep-rooted civilizational and historical ties and trade relations, while exchanging views on enhancing trade between India and Africa and the MC14 agenda," the minister added.
Goyal also met European Commissioner for Trade and Economic Security, Maros Sefcovic, on the sidelines of the WTO ministerial conference.
Both leaders discussed key priorities under the MC14 agenda and "reviewed progress on the ongoing work towards the signing of the India-EU FTA, as announced by Prime Minister Narendra Modi and European Commission President Ursula von der Leyen in New Delhi in January 2026."
"We also discussed avenues to further deepen our bilateral economic and trade partnership," Goyal said in a post on X.
Goyal also met Nigeria's Minister of Industry, Trade and Investment, Dr Jumoke Oduwole.
"We had discussions on the MC14 agenda and explored opportunities to further strengthen trade and economic cooperation between the two nations," he noted.
A constructive conversation with Brazil's Minister of Foreign Affairs, Mauro Vieira, resulted in exchanging views on the MC14 agenda, along with enhancing bilateral trade ties and the expansion of the India-MERCOSUR PTA.
At the WTO meeting, drawing inspiration from Mahatma Gandhi’s philosophy of truth prevailing over conformity, India showed the courage to stand alone on the contentious issue of the Investment Facilitation for Development (IFD) Agreement and did not agree to its incorporation into the WTO framework as an Annex 4 Agreement.
"Incorporating the IFD Agreement risks eroding the functional limits of the WTO and undermining its foundational principles," said Goyal.
As part of WTO reform discussions, members are discussing guardrails and legal safeguards for plurilaterals before the integration of any specific plurilateral outcome.