Commerce and Industry Minister Piyush Goyal stated that rebuilding trust is essential for revitalizing consensus-driven decision-making, which is a non-negotiable and fundamental principle of the World Trade Organization. He made this statement while addressing a Ministerial Breakout Session at the 14th Ministerial Conference of the World Trade Organization in Cameroon.
In a social media post, the Minister said that a truly integrated multilateral trading system can only thrive when its institutional framework remains cohesive, resilient, and aligned with the shared aspirations of its members. He also emphasized the importance of conducting a comprehensive and constructive assessment of the current impasse, with a focus on understanding the underlying causes, while ensuring that discussions remain transparent, inclusive, and member-driven.
The Minister also held productive discussions with US Trade Representative Jamieson Greer on the sidelines of the Conference. Both leaders exchanged views on the agenda of the conference and the next steps in the India-US BTA negotiations, as well as exploring ways to further deepen economic cooperation and bilateral trade ties. Furthermore, Mr. Goyal also met South Korean Trade Minister Yeo Han-Koo and exchanged views on ongoing WTO reform discussions and explored avenues to further strengthen bilateral trade ties, with a focus on upgrading the India-Korea Comprehensive Economic Partnership Agreement.
Mr. Goyal reviewed ongoing work towards the signing of the recently concluded India-New Zealand FTA with New Zealand Trade and Investment Minister Todd McClay. They discussed avenues to further enhance bilateral trade and investment while strengthening cooperation across key sectors of mutual interest. The leaders also exchanged information on the progress of the conference agenda.
The Commerce Minister discussed key elements of the Conference agenda and reviewed the implementation of the landmark India-EFTA Trade and Economic Partnership Agreement with Switzerland State Secretary Helene Budliger Artieda. They exchanged views on further strengthening bilateral investments and deepening economic partnership to drive shared growth and prosperity.