Union Commerce Minister Piyush Goyal to visit Italy for G7 Trade Ministers’ Meeting

Union Commerce and Industry Minister Piyush Goyal will participate in the outreach session of the G7 Trade Ministers’ Meeting scheduled for July 16-17 in Italy, according to an official statement.

During this visit, the Minister will also engage in bilateral meetings with the trade ministers of G7 countries and other participating nations in the outreach session, reinforcing India’s commitment to global trade and investment partnerships, the Ministry of Commerce & Industry said in a press release on Saturday.

These meetings aim to explore new avenues for trade and investment, resolve bilateral trade issues, and deepen economic cooperation.The visit is part of the government’s efforts to showcase the immense trade and investment opportunities that the country has to offer to the world, the ministry said.

Prior to his visit to Italy, Goyal will be in Switzerland on the 14th and 15th of July for business and official meetings with Swiss counterparts, the release added.

The Ministry said that the discussions will be centred around the implementation of the European Free Trade Association’s (EFTA) Trade and Economic Partnership Agreement (TEPA). Both sides will discuss a roadmap for the investment commitments made by EFTA, amounting to USD 100 billion.

At the G7 Trade Ministers’ Meeting outreach session in Reggio Calabria, Goyal will articulate India’s vision for global trade and supply chain resilience, highlighting the significant reforms and initiatives undertaken to enhance the ease of doing business and attract foreign investments, the release said.

The Ministry further said that participation in these high-level meetings will further India’s economic diplomacy, promoting the nation’s interests on the global stage.

India’s ascent to the 5th largest economy in the world is a testament to its dynamic economic landscape and robust growth potential. The country offers a conducive environment for global businesses with its market-oriented reforms, skilled workforce, and strategic location, the statement read.