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Virtual Meeting of G20 Trade and Investment Ministers: Piyush Goyal participates

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On March 31, 2020 The G20 Trade and Investment Ministers meeting was held virtually where Union Minister of Commerce & Industry Piyush Goyal participated through video conference.G20 Trade and Investment Ministers virtual MeetingGist about the meeting

i.Piyush Goyal has urged the G20 nations to build a universal framework to boost the affordable access & facilitate easy movement of health professionals across national borders to fight over COVID-19.

ii.He stated that nations should think over a framework under which critical pharma products, medical devices, diagnostic equipment and kits and healthcare professionals can be deployed at short notice across territories under a pre-agreed protocol.

iii.He stressed on the need to uphold multilateral commitments and improve its effectiveness to meet current challenges.

iv.Members of the G-20 have agreed to the emergency measures designed to tackle covid-19 & they will implement those measures which uphold the principle of international solidarity, considering other countries’ growing needs for emergency supplies and humanitarian aid.

Key Points

  • India has urged its FTA (free trade agreement) partners to allow import of goods without an original certificate as local authorities could not publish the document due to the lockdown in the country.
  • He also stated that despite many challenges, India remains a reliable and affordable source of efficient and high quality medical and pharmaceutical products to 190 countries across the world.

About G20:

​​​​​​​​​​​​​​​The G20 is the premier assembly for international economic cooperation & also discusses financial and socio-economic issues. ​​​​​​​​​​The members are- Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico,  ​Republic of Korea​,​ Russia, Saudi Arabia, South Africa, ​​​Turkey, the United Kingdom, the United States and the European Union (EU)​.
Current Presidency (2020)– King Salman bin Abdulaziz Al Saud- Saudi Arabia