Commerce and industry minister Piyush Goyal has said that the Global South countries need to discuss ways to make supply chains open, secure, trusted and equitable.
“With respect to the Global South, the first need is to identify global value chains, where each of the countries could focus on not only increasing their participation but also improving the quality of their participation by moving up the value chain,” Goyal said at the second Voice of Global South Summit. He said this will help them to partake in the largest share of high value-added parts of the GVCs.
This is key as the Covid-19 crisis, the impact of climate change and raging geopolitical tensions have disrupted and underscored the fragility of global supply chains.
On the importance of increasing the digitalisation of trade documents, Goyal said it is seen that irrespective of digitalisation, documents critical for international trade are still not digitalised.
Goyal also met US President Joe Biden at the Asia-Pacific Economic Cooperation welcome reception on Thursday in San Francisco. “It was an honour meeting @POTUS at the Asia-Pacific Economic Cooperation (APEC) welcome reception yesterday,” the minister said in a post on social networking platform X. He also met Japanese Prime Minister Fumio Kishida on the sidelines of the APEC Leaders’ Meeting 2023.
