G20 SUMMIT SPECIAL: On to session 3: Robust International trade and Investment PM began intervention by stating that, “Global trade is at a cross roads.”

G20 SUMMIT SPECIAL

On to session 3: Robust International trade and Investment

PM began intervention by stating that, “Global trade is at a cross roads.”

Further he said, “Vision should be of a transparent, equitable, non-discriminatory, open, inclusive & rule-based global trading arch. We should underpin collective efforts. Trade facilitation is important. I urge countries to fully implement the Bali and Nairobi Ministerial decisions. Global trading regime must respond to needs & priorities of developing nations. Global value chains must provide them level playing field. Knowledge & innovation driven economy requires free mobility.
India’s priority is to work towards Trade Facilitation Agreement for Services. G20 needs to act to stimulate investment flows. Transformed & liberalized investment regime has put India among top host nations for FDI.”

While concluding his speech Pm said that,”Global investment principles shouldn’t be prescriptive. Countries need policy space depending on national circumstances & developmental focus.”