The DG thanked the Government of India for taking the initiative of starting a conversation to explore ways to reinvigorate the multilateral trading system.
Multilateral trade agreements take place between three or more nations. These agreements tend to reduce tariffs in order to make it easier for businesses to import and export goods and services.
According to a government statement, PM Modi reiterated that India is a strong supporter of the multilateral trading system.
He stated that it is imperative to prioritize the WTO’s activities so that it addresses the concerns of developing countries.
Urging DG, WTO to make special efforts so that the benefits of free trade and globalization become more visible in developing countries, Modi conveyed his best wishes for the success of the informal meeting of Ministers of WTO.
Photo courtesy: Press Information Bureau