Commerce Minister Bolat to attend G20 Trade and Investment Ministers Meeting in India

Trade Minister Omer Bolat will attend the G20 Trade and Investment Ministers Meeting, which will start tomorrow in Jaipur, India.

According to the statement made by the Ministry of Commerce, the G20 is known as an inclusive and effective dialogue platform where studies and meetings are held every year on many issues among the top officials of the world’s 20 leading economies.

Continuing its work this year under India’s term presidency, the G20 represents 85% of the world’s economy, 75% of its trade and two-thirds of its population.

Under the G20 umbrella, many important issues on the agenda of the global economy have been discussed in the field of trade and investment policies since 2016. This year, “trade, economic growth and prosperity”, “strengthening the resilience of global value chains”, “further integration of micro-SMEs in global trade”, “digitalization of documents used in global trade” and “World Trade Organization (WTO) reform” will be discussed.

In the two-day Trade and Investment Ministers Meeting, taking into account the current difficulties in world trade, what needs to be done on a global scale in the future will be discussed by the ministers of countries that have a say in world trade, and basic principles and approaches will be evaluated.

Adopted with this understanding, the Ministerial Statement provides guidance for global initiatives in the field of trade and investment policies and the development of the multilateral trade system.

On the occasion of the meeting, bilateral meetings will also be held by the Minister of Commerce Bolat with the US Trade Representative Katherine Tai, Olivier Becht, Minister for Foreign Trade of France, Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates, the Vice President of the European Commission Valdis Dombrovskis and the Director-General of the World Trade Organization Ngozi Okonjo-Iweala. In these meetings, in addition to multilateral issues, bilateral trade and economic relations will also be discussed in detail.

While the G20 economies are also among Turkiye’s main trade partners, trade with the G20 economies reached $416 billion by the end of 2022.

The Ministry of Commerce will continue to use trade diplomacy intensively to increase the trade volume in the “Turkish Century”. G20 countries are also an important component of this strategy.

Source: AA / Prepared by Irem Yildiz

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