Commerce and Industry Minister Piyush Goyal has called for waiver of Intellectual Property Rights and dismantling new trade barriers in the global fight against the COVID19 pandemic. He was addressing the G20 Trade and Investment Ministerial Meeting in Italy today. Mr. Goyal also called for actively resolving new trade barriers like vaccine differentiations or COVID passports, which impose mobility restrictions and impede the movement of personnel needed for delivering critical services.
Underlining the need for an equitable and balanced outcome to the trade negotiations in the Fisheries sector, Mr. Goyal advocated that countries engaged in distant water fishing should stop subsidizing their fishing in high seas and gradually reduce the fishing capacities, particularly for over-fished stocks. The Minister said that India is among the few countries which is on track to exceed its commitments as per the Paris Agreement. He urged developed countries to fulfil their commitments regarding Transfer of Technology and Climate Finance.