1st G20 Trade and Investment Working Group (TIWG) Meeting

March 29, 2023

India’s G20 Presidency is conducting the first Trade and Investment Working Group (TIWG) Meeting in Mumbai from March 28th − 30th, 2023. The TIWG Meeting is an important forum for over 100 delegates from G20 member countries, invitee countries, regional groupings, and international organizations to engage in discussions about accelerating global trade and investments.

Trade Finance and Digitalisation

On the first day of the TIWG Meeting, an International Conference on ‘Trade Finance’ was be held, where the role of banks, financial institutions, development finance institutions, and export credit agencies in closing the trade finance gap was discussed. The conference also focused on how digitalisation and fintech solutions can improve access to trade finance. Eminent speakers from India and abroad have been invited to provide concrete solutions for mitigating the growing trade finance gap.

Experience Zones and Exhibitions

At the conference venue, a wide range of experience zones on spices, millet, tea, and coffee was set up. Additionally, an exhibition on textiles was also on display during the TIWG Meeting. The G20 delegates visited the Bharat Diamond Bourse on the first day of the meeting.

Making Trade Work for Growth and Prosperity

The focus of the TIWG Meeting on March 29th will be on making trade work for growth and prosperity, and building resilient Global Value Chains (GVCs). The highlight will be on realizing shared outcomes for making growth inclusive and resilient, increasing the participation of developing countries and the Global South in GVCs, and building resilient GVCs to withstand future shocks.

Inauguration and Closed-Door Sessions

Across four technical closed-door sessions on March 29th and 30th, the priorities related to global trade and investment, which the Indian Presidency is pursuing, will be discussed.

Integrating MSMEs in Global Trade and Building Efficient Logistics

On March 30th, the two working sessions will focus on integrating MSMEs in Global Trade and building efficient logistics for trade. The Indian Presidency seeks to carry forward the efforts of past G20 Presidencies to ensure the integration of MSMEs into global trade, given their important role in sustaining livelihoods in both developed and developing countries. The discussions will also be held on developing robust logistics infrastructure that could bring down transaction costs both across borders and in the hinterlands.

Building a Shared Understanding

The aim under India’s G20 Presidency is to build a shared understanding of the challenges being faced in accelerating global trade and investment. The TIWG Meeting provides an opportunity for delegates to deliberate on existing opportunities that can be harnessed to formulate human-centric concrete outcomes and deliverables.

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