New Delhi: India is likely to hold bilateral free-trade talks with the United Kingdom, the European Union and Canada and discuss bilateral trade issues with the Russian delegation on the sidelines of a G20 meeting next week. Besides, India is also using all multilateral and bilateral platforms including G20 to flag concerns with regard to non-tariff barriers (NTBs) which are impacting the free flow of trade, a top government official said on Friday.
India has already raised its concerns on issues like the European Union’s (EU) carbon tax on different platforms, including the World Trade Organisation (WTO). However, G20 member countries are likely to raise such issues in the upcoming two-day trade ministers’ meeting to be held on August 24 and 25 in Jaipur. “Definitely, we are discussing those NTBs and we are also discussing how to find a good solution, how to find a platform where we can coordinate on these issues and we can understand these issues,” commerce secretary Sunil Barthwal told reporters here.
More than 300 delegates from G20 members are expected to congregate in Jaipur, about 300 km from the national capital. Among others, France, Indonesia, South Korea, Turkey, UK, USA and EU have confirmed their participation in the meeting. “WTO reforms is one of the priority issues at the G20 meeting,” the official said, adding that the agenda for the G20, which accounts for nearly 85 per cent of global GDP, will include the role of logistics in expanding global value chains and small businesses.
In the upcoming investment ministerial meeting, the secretary also said, five priority areas to be discussed in the meeting are trade for growth and prosperity; trade and resilient global supply chain; integrating MSMEs in global trade; logistics for trade; and WTO reforms. “Strengthening mutual cooperation in the G20 to increase transparency in the use of non-tariff measures will be discussed in the meeting where all platforms will be used to discuss these barriers,” Barthwal said.
Besides, the secretary also gave an example of the EU Carbon Border Adjustment Mechanism, which is going to impact exports of certain sections of Indian industries. There will be compliance with this mechanism and there are certain regulatory requirements. We will be discussing those issues multilaterally as well as bilaterally, wherever the opportunity arises,” he said.
