Paris, June 1 (PTI) Commerce and Industry Minister Piyush Goyal said on Sunday that finalizing and restoring the dispute solution system of the World Trade Organization (WTO) is important to quickly maintain the main philosophy of a geneva-based multi-pursuit body.
He said that a mini-minister meeting of the WTO would be held on June 3, where the trade ministers of all major economies would discuss multilateral business systems, WTO reforms and open and expanders to work towards international trade.
He told reporters here, “It is very important that we finalize a dispute solution mechanism and restore quickly to postpone the WTO principles and give justice,” he asked reporters here.
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Goyal is on a two -day visit here. He will hold meetings with French leaders and business representatives to promote trade and investment between the two countries.
It is also important for WTO member countries to discuss non-business obstacles, to discuss special and differential treatment principles and the principles of consensus.
He said, he is important for the WTO to see a lot of future and further and create an inclusive organization.
Since 2009, the WTO’s dispute settlement system has not been functioning properly as the US has stopped the appointments of members in the appellate body.
The minister further stated that he would meet the CEOs of several French firms and encourage them to invest in India, besides providing an opportunity to take advantage of the big Indian market of 140 crore people.
He said, “During the journey, I will also invite many French big finance companies and wealth funds to invest in India … (these) banks, pension and insurance companies, equity funds, hedge funds … and I hope to see a significant growth in the field,” he said.
Areas where both sides can increase cooperation include sustainable development, clean-technology, dynamics and defense, location, green technologies.
He said, “India is very grateful to France for France, which France expressed when there was a terrorist strike in Pahgam,” he said, “There are about 1,20,000 Indians who serve as a bridge between India and France.”
He also said that the Swaminarayan temple coming to Paris is another beautiful work that will introduce Indian culture, Indian history in Europe.
“In fact, Louvre has entered a memorandum … to help us create the world’s largest museum with India – Uga Eugen Bharat National Museum,” said Goyal.
It is coming in the North Block and South Block Complex, in which transfer of modern, skilled campus with government offices. PTI RR HVA
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