Commerce and Industry Minister Piyush Goyal engaged in discussions regarding strengthening India’s trade and investment ties with African nations during a meeting with African ministers and ambassadors at the WTO ministerial conference in Cameroon. Goyal emphasized the importance of expanding India’s investments in Africa and highlighted the historical trade relations between the two regions.
In addition to the discussions with African representatives, Goyal met with European Commissioner for Trade and Economic Security, Maros Sefcovic, to review progress on the India-EU Free Trade Agreement. The leaders also explored avenues to enhance their bilateral economic and trade partnership.
Furthermore, Goyal held talks with Nigeria’s Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, to strengthen trade and economic cooperation between India and Nigeria. He also exchanged views on the MC14 agenda with Brazil’s Minister of Foreign Affairs, Mauro Vieira, focusing on enhancing bilateral trade ties and expanding the India-MERCOSUR Preferential Trade Agreement.
During the WTO meeting, India stood firm on the issue of the Investment Facilitation for Development (IFD) Agreement, expressing concerns about its potential impact on the WTO’s foundational principles. Goyal emphasized the need for guardrails and legal safeguards for plurilaterals in WTO reform discussions before incorporating specific outcomes.
