Business

Govt. creates high-level group to advise on boosting trade

Move comes in the wake of challenges in global scenario

Commerce Minister Suresh Prabhu has approved the constitution of a high-level advisory group (HLAG) to look into the opportunities and ways to address the ongoing challenges in the global trade scenario, the government said on Friday.

“The terms of reference (ToR) of the HLAG are to examine the prevailing international trade dynamics, including, but not confined to, the rising protectionist tendencies, especially on the part of major economies, non-engagement by some countries on outstanding trade negotiation issues and commitments, including the Doha Development Agenda, and their insistence on pursuing negotiating mandates, in many cases prematurely and without efforts, to build consensus and common understanding,” the government said in a statement.

The government added that the HLAG would meet regularly over the next two months and make specific implementable recommendations in light of the terms of reference, including on each of the areas, to facilitate the formulation of future trade policies.

The HLAG will be chaired by, among others, Prime Minister’s Economic Advisory Council Member Surjit Bhalla, and other members will include S. Jaishankar, Former Foreign Secretary and Sanjeev Sanyal, Principal Economic Advisor, Government of India.

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Printable version | Jul 9, 2020 4:14:57 AM | https://www.thehindu.com/business/govt-creates-high-level-group-to-advise-on-boosting-trade/article25074316.ece

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