Oplus_16908288
Yaounde (Cameroon), March 29: Union Commerce Minister Piyush Goyal on Sunday held wide-ranging discussions with representatives of African countries on the sidelines of the 14th World Trade Organisation (WTO) Ministerial Conference, focusing on strengthening trade and investment partnerships between India and Africa.
Goyal highlighted India’s commitment to supporting Africa’s development and deepening economic cooperation. In a post on X, he wrote, “India stands with Africa! Had a meaningful engagement with Ministers and Ambassadors of the Africa Group members on the sidelines of #WTOMC14. Our discussions reaffirmed the deep-rooted civilisational and historical ties and trade relations, while exchanging views on enhancing trade between India and Africa and the MC14 agenda. Held substantive talks on investments, including expanding India’s investments in Africa.”
During the conference, India maintained a strong and independent stance on the contentious Investment Facilitation for Development (IFD) Agreement. The Commerce Minister made it clear that India would not support the agreement’s inclusion into the WTO framework, asserting that it could dilute the organisation’s foundational principles.
“Incorporation of the IFD Agreement risks eroding the functional limits of the WTO and undermining its foundational principles,” Goyal said in a social media post. Citing Mahatma Gandhi’s philosophy of standing by the truth, he added that India “showed the courage to stand alone” on the issue.
Goyal noted that WTO members are currently engaged in discussions on legal safeguards and guardrails for plurilateral agreements as part of wider WTO reform efforts. “India remains open to good-faith, comprehensive discussions and constructive engagement under the WTO Reform Agenda,” he stated.
The 14th WTO Ministerial Conference is deliberating on several critical issues related to global trade, multilateral cooperation and reforms necessary to strengthen the international trading system.
About the Author
