THE GLOBAL SOUTH SUMMIT INTENDS TO PAY ATTENTION TO DEVELOPING NATIONS’ ISSUES: MINISTER OF COMMERCE IN THE UNION

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According to a press release issued by The Ministry of Commerce and Industry, Union Minister of Commerce and Industry Piyush Goyal on Friday urged countries of the Global South to forge new partnerships and mechanisms to ensure that the voice of the Global South is heard at the decision-making table.

The Minister stated that the goal of the Voice of the Global South Summit is to bring concerns of the Global South to the attention of key global forums such as the G20, the UN, and other multilateral settings.

In reference to the Session’s subject, Goyal stated that these are the key pillars for the development of the South’s countries.

The Minister made the statements while hosting the Commerce and Trade Ministers’ Session on the theme ‘Developing Synergies in the South: Trade, Technology, Tourism, and Resources’ on Friday.

The Session was attended by ministers from 13 countries: Benin, Bosnia and Herzegovina, Burundi, Central African Republic, Cote d’Ivoire, Democratic Republic of Congo, Gabon, Haiti, Malaysia, Myanmar, South Sudan, Timor Leste, and Zimbabwe.

Goyal emphasised the importance of collaboration to construct resilient supply chains, citing the impact of COVID on global trade, particularly in developing countries. He also emphasised the importance of depoliticizing the worldwide supply of important pharmaceuticals, according to a Ministry press statement.

“At the World Trade Organization Ministerial Conference in Geneva in June 2022, India, South Africa, and other poor nations collaborated to obtain the TRIPS waiver decision providing equal and affordable access to vaccines,” he stated. We will increase our efforts at the WTO to obtain the

Goyal highlighted that the countries of the Global South are now contributing more than half of the world’s economic growth with South-South trade touching USD 5.3 trillion in 2021. In this regard, he urged for enhanced trade linkages for the mutual benefit of all our countries.

Mentioning that India is providing unilateral duty-free market access to the least-developed countries (LDCs) since 2008 through the duty-free tariff preference (DFTP) scheme of India, he said that India is also open to entering into Preferential Trade Agreements (PTAs) with interested countries in the South, according to the commerce ministry press release.

Calling Connectivity a defining factor for success in the developing world, Shri Goyal spoke of India’s National Logistic policy (NLP) and the PM-Gati Shakti as the steps in this direction. He said countries of the Global South can work together to exchange best practices in models of connectivity that we employ in our countries.

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