5 hrs ago
G20 Trade Ministers Oppose Food Weaponisation, Back Rules-Based Trade
G20 trade ministers agreed that food should not be used to pressure countries.
They said countries should keep food trade open and fair.
India said protecting food supplies is especially important for poorer and developing countries.
Piyush Goyal warned that shortages of fertiliser can eventually cause food shortages.
He said India provides free foodgrains to more than 800 million people.
India also said its food-security measures follow World Trade Organization rules.
Goyal asked American companies to invest in Indian factories and technology.
He also discussed trade agreements and cooperation with officials from several countries.
G20 trade ministers agreed on a statement opposing the weaponisation of food through coercive trade actions.
India called for food security policies to be distinguished from coercive trade measures under a rules-based World Trade Organization system.
Commerce Minister Piyush Goyal said food, fuel and fertiliser disruptions threaten developing countries and could trigger food crises.
Goyal urged United States companies to invest in Indian manufacturing, technology and resilient supply chains.
India and the United States discussed concluding an interim agreement under the proposed India-United States Bilateral Trade Agreement.
- Who
- G20 trade ministers, including India’s Commerce and Industry Minister Piyush Goyal, participated in the discussions.
- What
- The ministers agreed on a statement opposing the weaponisation of food and discussed trade, investment and food security.
- Where
- The meeting took place in Milwaukee, Wisconsin, under the United States G20 Presidency.
- When
- The agreement was reached during the G20 Trade Ministers’ Meeting; the article does not provide a specific date.
- Why
- The ministers sought to protect food security, prevent coercive trade actions and support an open, rules-based trading system.
Key facts
- Meeting
- G20 Trade Ministers’ Meeting in Milwaukee, Wisconsin
- Food policy
- Ministers opposed using food as an instrument of pressure against countries.
- India’s position
- India called for a fair, transparent and non-discriminatory trading system centered on the World Trade Organization.
- Food assistance
- Piyush Goyal said more than 800 million Indians receive foodgrains free of cost.
- Trade mechanisms
- The G20 Agricultural Market Information System was established in 2011 to improve transparency in agricultural markets.
- India-United States talks
- Goyal and United States Trade Representative Jamieson Greer discussed an interim agreement under the proposed India-United States Bilateral Trade Agreement.
- Investment appeal
- Goyal invited United States manufacturers and technology companies to invest in India and partner with Indian small and medium-sized enterprises.
Quotes
Piyush Goyal
India’s Commerce and Industry Minister
“Food must never be used as an instrument of pressure against any country”
CNBC TV 18
Sources
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