All must support WTO for global trade: Prabhu
PTI, Jan 22, 2020, 3:32 PM IST
Davos: Former trade minister Suresh Prabhu on Wednesday said the WTO must be allowed to function freely and more efficiently for global trade to flourish, though some changes are evident in the multilateral institution going forward.
Speaking here at a session on ‘The Great Indo Pacific Race’, Prabhu also said oceans will play a very important role going forward, including for trade and security.
“We must allow free flow of trade and commerce in the Indo Pacific region. This region has huge growth potential provided there is cooperation and collaboration and improved connectivity,” he said.
Prabhu, who is also the Prime Minister Narendra Modi’s G20 Sherpa, said trade can create jobs and more business opportunities.
On World Trade Organization (WTO), he said, “Over a long period of time we have learned and realized that multilateral bodies must be allowed to function freely and efficiently as they can promote economic integration.”
“WTO in the past few decades has allowed global trade to grow and we all must support it. Yes, we will need more changes in WTO going forward as the nature of global trade is very dynamic,” he added.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Indian markets rebound sharply on buying in bank stocks, firm global trends
Markets rebound in early trade amid global rally, buying in ICICI Bank and Reliance
Elon Musk in Beijing amid efforts to promote Tesla’s autonomous driving tech
Corporate earnings, US Fed interest rate decision to drive markets in holiday-shortened week: Analysts
Pune court asks police to probe bribery allegations against IT major Cognizant
MUST WATCH
Latest Additions
Ramanagara: 5 students feared drowned
Prajwal Revanna suspended from JD(S), says Kumaraswamy
JD(S) MLA demands expulsion of Revanna, son; says charges against them embarrassing
Politics behind sexual abuse charges against me and my son, claims MLA H D Revanna
UGC-NET postponed to June 18 to avoid clash with UPSC prelims